Waste Management, Inc. (NYSE:WM) Shares Bought by Burling Wealth Partners LLC

Burling Wealth Partners LLC grew its position in Waste Management, Inc. (NYSE:WM - Free Report) by 53.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,962 shares of the business services provider's stock after purchasing an additional 6,632 shares during the quarter. Burling Wealth Partners LLC's holdings in Waste Management were worth $4,390,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Waste Management during the fourth quarter valued at $1,009,726,000. GAMMA Investing LLC grew its stake in Waste Management by 26,095.2% during the 1st quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider's stock valued at $442,038,000 after purchasing an additional 1,902,081 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Waste Management by 250.1% in the fourth quarter. Capital Research Global Investors now owns 1,658,733 shares of the business services provider's stock valued at $334,716,000 after purchasing an additional 1,184,905 shares during the period. Leigh Baldwin & CO. LLC purchased a new position in shares of Waste Management in the fourth quarter worth about $205,506,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Waste Management by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock worth $7,526,823,000 after purchasing an additional 538,567 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

Waste Management stock traded down $0.13 during midday trading on Thursday, reaching $225.73. The company had a trading volume of 1,403,299 shares, compared to its average volume of 1,632,070. The company has a market capitalization of $90.84 billion, a P/E ratio of 34.05, a P/E/G ratio of 2.80 and a beta of 0.64. The firm's fifty day simple moving average is $231.80 and its 200-day simple moving average is $226.04. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $242.58. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.83 and a quick ratio of 0.79.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.08. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.75 EPS. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management's dividend payout ratio is currently 49.77%.

Insider Buying and Selling

In other Waste Management news, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the transaction, the senior vice president directly owned 16,542 shares of the company's stock, valued at $3,917,311.02. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the transaction, the chief financial officer owned 83,934 shares in the company, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on WM shares. Melius started coverage on Waste Management in a research report on Monday, June 9th. They issued a "buy" rating on the stock. National Bank Financial raised shares of Waste Management to a "hold" rating in a report on Monday, May 26th. Hsbc Global Res raised shares of Waste Management from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Oppenheimer upped their price target on shares of Waste Management from $255.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, Scotiabank upped their target price on Waste Management from $260.00 to $265.00 and gave the stock a "sector outperform" rating in a research note on Friday, June 27th. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Management currently has a consensus rating of "Moderate Buy" and an average target price of $251.29.

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.