Fifth Third Wealth Advisors LLC Buys 3,282 Shares of Waste Management, Inc. (NYSE:WM)

Fifth Third Wealth Advisors LLC grew its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 226.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,732 shares of the business services provider's stock after purchasing an additional 3,282 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Waste Management were worth $1,010,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WM. Hexagon Capital Partners LLC increased its position in shares of Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider's stock valued at $25,000 after acquiring an additional 75 shares during the period. Sachetta LLC purchased a new position in shares of Waste Management during the fourth quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Waste Management in the 2nd quarter worth $31,000. Opal Wealth Advisors LLC bought a new stake in shares of Waste Management during the 1st quarter valued at about $35,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in Waste Management during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Stock Up 0.6 %

Shares of NYSE WM traded up $1.28 during mid-day trading on Wednesday, reaching $209.38. 901,367 shares of the company's stock traded hands, compared to its average volume of 1,701,842. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00. The stock has a market cap of $84.03 billion, a P/E ratio of 34.27, a PEG ratio of 2.30 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The business has a 50-day simple moving average of $209.32 and a 200 day simple moving average of $207.49.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting analysts' consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm had revenue of $5.40 billion for the quarter, compared to analysts' expectations of $5.43 billion. During the same quarter in the prior year, the company posted $1.51 earnings per share. The business's revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts expect that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Waste Management from $202.00 to $214.00 and gave the stock an "equal weight" rating in a research note on Friday, April 26th. Erste Group Bank restated a "hold" rating on shares of Waste Management in a report on Friday, June 14th. The Goldman Sachs Group raised shares of Waste Management to a "strong-buy" rating in a research note on Friday, July 26th. StockNews.com cut Waste Management from a "strong-buy" rating to a "buy" rating in a research report on Thursday, July 25th. Finally, Truist Financial reduced their target price on Waste Management from $240.00 to $235.00 and set a "buy" rating on the stock in a research report on Thursday, July 11th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $215.83.

Insider Transactions at Waste Management

In related news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a filing with the SEC, which is available through this link. In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the business's stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the sale, the vice president now owns 45,644 shares in the company, valued at $9,324,156.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Michael J. Watson sold 1,500 shares of the 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 transaction, the vice president now directly owns 44,144 shares of the company's stock, valued at $9,711,680. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

About Waste Management

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.

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