SteelPeak Wealth LLC Boosts Stock Holdings in Waste Management, Inc. (NYSE:WM)

SteelPeak Wealth LLC boosted its position in Waste Management, Inc. (NYSE:WM) by 149.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,095 shares of the business services provider’s stock after purchasing an additional 5,449 shares during the period. SteelPeak Wealth LLC’s holdings in Waste Management were worth $1,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in WM. Norges Bank bought a new position in shares of Waste Management in the fourth quarter valued at approximately $784,486,000. Sustainable Growth Advisers LP purchased a new stake in shares of Waste Management in the 1st quarter valued at $300,594,000. Capital World Investors grew its stake in shares of Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after buying an additional 1,303,466 shares during the last quarter. Mirova US LLC grew its position in Waste Management by 26,116.4% during the 4th 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 purchased a new position in shares of Waste Management in the first quarter worth $193,955,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Activity

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was 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 directly owns 44,144 shares in the company, valued at approximately $9,711,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Waste Management news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now directly owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael J. Watson sold 4,208 shares of the firm’s 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 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. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on WM shares. CIBC reduced their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Raymond James boosted their price objective on shares of Waste Management from $219.00 to $229.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Stifel Nicolaus upped their price target on shares of Waste Management from $215.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. BMO Capital Markets cut their target price on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. Finally, Oppenheimer reduced their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $215.83.

Waste Management Stock Performance

Waste Management stock traded up $0.56 during midday trading on Thursday, hitting $206.91. The stock had a trading volume of 1,080,201 shares, compared to its average volume of 1,710,411. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $225.00. The company has a market capitalization of $82.99 billion, a PE ratio of 33.76, a P/E/G ratio of 2.30 and a beta of 0.74. The firm’s fifty day moving average is $208.75 and its two-hundred day moving average is $206.78.

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

Waste Management Company 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.