Burney Co. Has $949,000 Stake in Waste Management, Inc. (NYSE:WM)

Burney Co. raised its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 101.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,101 shares of the business services provider's stock after acquiring an additional 2,061 shares during the period. Burney Co.'s holdings in Waste Management were worth $949,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Westend Capital Management LLC grew its holdings in Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after buying an additional 66 shares in the last quarter. West Branch Capital LLC grew its holdings in Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after buying an additional 49 shares in the last quarter. Transce3nd LLC bought a new stake in Waste Management during the fourth quarter worth $28,000. Hurley Capital LLC purchased a new position in Waste Management in the fourth quarter worth $34,000. Finally, Adalta Capital Management LLC purchased a new position in Waste Management in the fourth quarter worth $40,000. Institutional investors own 80.40% of the company's stock.

Insider Activity

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

Analysts Set New Price Targets

A number of research analysts have recently commented on WM shares. Seaport Res Ptn raised Waste Management to a "hold" rating in a research report on Tuesday, May 6th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $229.00 price target on shares of Waste Management in a research report on Thursday, June 26th. Hsbc Global Res raised Waste Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. CIBC increased their price objective on Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Finally, Wall Street Zen raised Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $252.41.

Waste Management Stock Performance

Waste Management stock traded down $1.03 on Friday, reaching $229.58. 1,126,277 shares of the stock were exchanged, compared to its average volume of 1,581,502. The stock has a market cap of $92.39 billion, a PE ratio of 34.63, a PEG ratio of 2.86 and a beta of 0.64. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.65. Waste Management, Inc. has a twelve month low of $196.59 and a twelve month high of $242.58. The firm has a fifty day moving average price of $231.81 and a two-hundred day moving average price of $227.29.

Waste Management (NYSE:WM - Get Free Report) last posted its earnings results 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 business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $6.14 billion. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.75 earnings per share. Sell-side analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.30 annualized dividend and a yield of 1.44%. Waste Management's dividend payout ratio is 49.77%.

Waste Management Profile

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.