AdvisorNet Financial Inc Increases Stock Position in Waste Management, Inc. (NYSE:WM)

AdvisorNet Financial Inc increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,564 shares of the business services provider’s stock after purchasing an additional 370 shares during the period. AdvisorNet Financial Inc’s holdings in Waste Management were worth $1,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WM. Norges Bank bought a new position in Waste Management during the fourth quarter valued at $784,486,000. Sustainable Growth Advisers LP bought a new position in shares of Waste Management in the 1st quarter valued at about $300,594,000. Capital World Investors grew its position in Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after acquiring an additional 1,303,466 shares in the last quarter. Mirova US LLC increased its stake in Waste Management by 26,116.4% during the fourth quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock worth $163,680,000 after acquiring an additional 910,418 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Waste Management in the 1st quarter valued at approximately $193,955,000. Institutional investors own 80.40% of the company’s stock.

Insiders Place Their Bets

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the transaction, the vice president now owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the topic of several recent analyst reports. StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft began coverage on Waste Management in a research report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 target price for the company. Robert W. Baird decreased their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. TD Cowen boosted their price objective on Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, Royal Bank of Canada decreased their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Stock Up 0.3 %

WM stock traded up $0.56 during trading on Thursday, reaching $206.91. 432,073 shares of the company traded hands, compared to its average volume of 1,706,057. The company has a market capitalization of $82.99 billion, a price-to-earnings ratio of 33.76, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The business has a 50 day simple moving average of $208.75 and a 200 day simple moving average of $206.78. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the previous year, the company earned $1.51 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.