Morgan Stanley Institutional Investment Advisors LLC Buys New Shares in Waste Management, Inc. $WM

Morgan Stanley Institutional Investment Advisors LLC purchased a new position in Waste Management, Inc. (NYSE:WM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,446,874 shares of the business services provider’s stock, valued at approximately $322,479,000. Waste Management accounts for approximately 30.1% of Morgan Stanley Institutional Investment Advisors LLC’s investment portfolio, making the stock its 2nd biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Waste Management in the fourth quarter valued at approximately $1,022,916,000. Corient Private Wealth LLC raised its position in shares of Waste Management by 279.0% during the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock worth $236,387,000 after purchasing an additional 792,037 shares during the period. Diamant Asset Management Inc. lifted its holdings in shares of Waste Management by 23,051.5% in the 1st quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock worth $17,716,000 after purchasing an additional 767,615 shares in the last quarter. Balyasny Asset Management L.P. grew its position in Waste Management by 3,209.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider’s stock valued at $150,466,000 after purchasing an additional 660,776 shares during the period. Finally, Danske Bank A S bought a new stake in Waste Management during the 2nd quarter valued at $146,053,000. 80.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on WM. Canadian Imperial Bank of Commerce downgraded shares of Waste Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. UBS Group lifted their price objective on shares of Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Oppenheimer cut their price target on Waste Management from $264.00 to $263.00 and set an “outperform” rating for the company in a research note on Wednesday, July 8th. TD Cowen boosted their price target on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings raised shares of Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $258.89.

Waste Management Price Performance

Waste Management stock opened at $223.87 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. The business has a 50-day simple moving average of $228.06 and a 200 day simple moving average of $227.79. The stock has a market cap of $89.48 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 2.83 and a beta of 0.44. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13.

Waste Management (NYSE:WM) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.04. The business had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. Waste Management’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $1.92 earnings per share. On average, research analysts forecast that Waste Management, Inc. will post 8.13 earnings per share for the current fiscal year.

About Waste Management

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.