Jennison Associates LLC Increases Holdings in Waste Management, Inc. $WM

Jennison Associates LLC lifted its holdings in Waste Management, Inc. (NYSE:WM) by 166.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,425 shares of the business services provider’s stock after acquiring an additional 8,383 shares during the period. Jennison Associates LLC’s holdings in Waste Management were worth $2,992,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Broadway Wealth Solutions Inc. boosted its stake in Waste Management by 2.8% in 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 period. Bey Douglas LLC raised its position in shares of Waste Management by 3.7% during 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 lifted its holdings in shares of 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 worth $1,341,000 after buying an additional 45 shares in the last quarter. Cassaday & Co Wealth Management LLC lifted its holdings in shares of 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 worth $527,000 after buying an additional 45 shares in the last quarter. Finally, Physician Wealth Advisors Inc. boosted its position in shares of Waste Management by 10.2% during the first quarter. Physician Wealth Advisors Inc. now owns 485 shares of the business services provider’s stock worth $111,000 after acquiring an additional 45 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Canadian Imperial Bank of Commerce downgraded shares of Waste Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Barclays raised their price objective on Waste Management from $270.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Stifel Nicolaus boosted their target price on Waste Management from $252.00 to $261.00 and gave the stock a “buy” 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 company a “buy” rating in a research note on Friday, July 10th. Finally, Weiss Ratings upgraded Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.89.

Waste Management Price Performance

WM stock opened at $224.73 on Monday. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The firm has a market capitalization of $89.83 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 2.76 and a beta of 0.44. The company has a fifty day simple moving average of $227.62 and a two-hundred day simple moving average of $227.86. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24.

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