Envestnet Portfolio Solutions Inc. Grows Position in Waste Management, Inc. $WM

Envestnet Portfolio Solutions Inc. raised its position in Waste Management, Inc. (NYSE:WM) by 6.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,766 shares of the business services provider’s stock after acquiring an additional 3,232 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Waste Management were worth $11,983,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Broadway Wealth Solutions Inc. lifted its position in shares of Waste Management by 2.8% during the 4th quarter. Broadway Wealth Solutions Inc. now owns 1,588 shares of the business services provider’s stock worth $349,000 after purchasing an additional 44 shares during the last quarter. Bey Douglas LLC increased its holdings in Waste Management by 3.7% in the fourth quarter. Bey Douglas LLC now owns 1,233 shares of the business services provider’s stock valued at $271,000 after buying an additional 44 shares during the last quarter. Birch Hill Investment Advisors LLC raised its stake in Waste Management by 0.7% in the fourth quarter. Birch Hill Investment Advisors LLC now owns 6,104 shares of the business services provider’s stock valued at $1,341,000 after buying an additional 45 shares in the last quarter. Cassaday & Co Wealth Management LLC raised its stake in Waste Management by 1.9% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 2,398 shares of the business services provider’s stock valued at $527,000 after buying an additional 45 shares in the last quarter. Finally, Physician Wealth Advisors Inc. lifted its holdings in Waste Management by 10.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 485 shares of the business services provider’s stock worth $111,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analyst Ratings Changes

WM has been the subject of a number of recent analyst reports. Royal Bank Of Canada raised their price target on shares of Waste Management from $240.00 to $244.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Citigroup increased their price target on Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Scotiabank boosted their price objective on Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a research report on Thursday, July 16th. TD Cowen increased their target price on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Barclays raised their target price on Waste Management from $270.00 to $277.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $258.89.

Waste Management Trading Down 0.8%

NYSE WM opened at $224.44 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The firm’s fifty day simple moving average is $227.53 and its 200-day simple moving average is $227.90. The company has a market capitalization of $89.71 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 2.78 and a beta of 0.44.

Waste Management (NYSE:WM) last released its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.04. The business had revenue of $6.68 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 EPS. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 8.14 earnings per share for the current fiscal year.

Waste Management Company Profile

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.