Burney Co. Sells 600 Shares of Waste Management, Inc. (NYSE:WM)

Burney Co. decreased its holdings in Waste Management, Inc. (NYSE:WM) by 31.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,319 shares of the business services provider’s stock after selling 600 shares during the period. Burney Co.’s holdings in Waste Management were worth $281,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Whittier Trust Co. increased its stake in shares of Waste Management by 1.1% during the second quarter. Whittier Trust Co. now owns 13,841 shares of the business services provider’s stock worth $2,953,000 after purchasing an additional 146 shares during the period. Financial Advocates Investment Management raised its holdings in Waste Management by 2.8% in the 2nd quarter. Financial Advocates Investment Management now owns 3,945 shares of the business services provider’s stock valued at $842,000 after acquiring an additional 106 shares in the last quarter. HB Wealth Management LLC lifted its position in shares of Waste Management by 2.9% during the 2nd quarter. HB Wealth Management LLC now owns 41,594 shares of the business services provider’s stock valued at $8,874,000 after acquiring an additional 1,186 shares during the period. Rosenberg Matthew Hamilton increased its position in shares of Waste Management by 17.7% in the second quarter. Rosenberg Matthew Hamilton now owns 1,166 shares of the business services provider’s stock worth $244,000 after purchasing an additional 175 shares during the period. Finally, Northeast Investment Management raised its position in shares of Waste Management by 10.1% in the 2nd quarter. Northeast Investment Management now owns 117,672 shares of the business services provider’s stock valued at $25,104,000 after buying an additional 10,759 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of NYSE:WM traded down $0.16 during trading on Friday, hitting $209.72. 32,780 shares of the company were exchanged, compared to its average volume of 1,661,203. The company has a market cap of $84.16 billion, a PE ratio of 34.35, a P/E/G ratio of 2.34 and a beta of 0.74. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $225.00. 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 stock has a 50 day moving average of $209.73 and a 200 day moving average of $208.21.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the firm earned $1.51 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Insider Buying and Selling at Waste Management

In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the sale, the vice president now owns 45,644 shares in the company, valued at $9,324,156.32. The transaction was disclosed in a document filed 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 the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction dated 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 transaction, the vice president now owns 45,644 shares in the company, valued at approximately $9,324,156.32. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WM shares. Truist Financial cut their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. CIBC reduced their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Oppenheimer reduced their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Erste Group Bank reissued a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Finally, The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.83.

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.