Burling Wealth Partners LLC Purchases 3,527 Shares of Waste Management, Inc. $WM

Burling Wealth Partners LLC grew its holdings in Waste Management, Inc. (NYSE:WM) by 15.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,043 shares of the business services provider’s stock after purchasing an additional 3,527 shares during the quarter. Waste Management makes up approximately 1.0% of Burling Wealth Partners LLC’s holdings, making the stock its 26th biggest holding. Burling Wealth Partners LLC’s holdings in Waste Management were worth $5,972,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cornerstone Planning Group LLC lifted its stake in shares of Waste Management by 101.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 67 shares during the period. Loomis Sayles & Co. L P bought a new stake in Waste Management in the second quarter valued at about $40,000. Steigerwald Gordon & Koch Inc. bought a new position in Waste Management during the third quarter worth about $41,000. Wealth Watch Advisors INC acquired a new position in shares of Waste Management during the 2nd quarter worth about $43,000. Finally, Costello Asset Management INC bought a new stake in shares of Waste Management in the 3rd quarter valued at about $49,000. 80.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Johnson Varkey sold 428 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $219.63, for a total transaction of $94,001.64. Following the transaction, the senior vice president directly owned 10,224 shares in the company, valued at approximately $2,245,497.12. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rafael Carrasco sold 7,352 shares of the stock in a transaction on Friday, February 13th. The shares were sold at an average price of $234.50, for a total transaction of $1,724,044.00. Following the completion of the sale, the senior vice president owned 15,540 shares of the company’s stock, valued at approximately $3,644,130. This represents a 32.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 62,746 shares of company stock worth $14,470,494 in the last quarter. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Robert W. Baird raised shares of Waste Management from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $238.00 to $242.00 in a research note on Tuesday, November 4th. TD Cowen lifted their price target on shares of Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. The Goldman Sachs Group started coverage on shares of Waste Management in a research report on Monday, November 24th. They issued a “buy” rating and a $256.00 price objective for the company. Sanford C. Bernstein lifted their target price on Waste Management from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Finally, JPMorgan Chase & Co. boosted their target price on Waste Management from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average price target of $253.55.

Waste Management Stock Down 0.5%

Shares of WM stock opened at $234.14 on Thursday. The firm’s fifty day moving average price is $223.44 and its two-hundred day moving average price is $219.36. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $242.58. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.22. The firm has a market capitalization of $94.44 billion, a P/E ratio of 34.95, a PEG ratio of 2.49 and a beta of 0.58.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.02). Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The company had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.39 billion. During the same period in the prior year, the firm posted $1.70 EPS. Waste Management’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management 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.