Waste Management, Inc. $WM Stock Position Reduced by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA lowered its stake in Waste Management, Inc. (NYSE:WM) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 236,003 shares of the business services provider’s stock after selling 9,133 shares during the quarter. Waste Management comprises approximately 2.6% of Berkshire Asset Management LLC PA’s holdings, making the stock its 6th largest holding. Berkshire Asset Management LLC PA owned 0.06% of Waste Management worth $55,234,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Legacy Financial Advisors Inc. increased its holdings in shares of Waste Management by 6.7% in the 1st quarter. Legacy Financial Advisors Inc. now owns 1,682 shares of the business services provider’s stock worth $389,000 after buying an additional 105 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc increased its holdings in shares of Waste Management by 4.6% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,759 shares of the business services provider’s stock worth $407,000 after buying an additional 78 shares during the last quarter. Disciplina Capital Management LLC increased its holdings in shares of Waste Management by 123.2% in the 1st quarter. Disciplina Capital Management LLC now owns 221 shares of the business services provider’s stock worth $51,000 after buying an additional 122 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Waste Management in the 1st quarter worth about $2,863,000. Finally, Korea Investment CORP increased its holdings in shares of Waste Management by 43.0% in the 1st quarter. Korea Investment CORP now owns 453,727 shares of the business services provider’s stock worth $105,042,000 after buying an additional 136,408 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

In other news, SVP Rafael Carrasco sold 674 shares of the 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 trade represents a 3.91% decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the sale, the chief financial officer directly owned 83,934 shares of the company’s stock, valued at $19,922,574.24. The trade was a 40.82% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Waste Management Price Performance

NYSE WM opened at $224.29 on Tuesday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The firm’s 50 day moving average price is $229.81 and its 200-day moving average price is $229.71. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The company has a market cap of $90.35 billion, a PE ratio of 33.28, a P/E/G ratio of 2.78 and a beta of 0.64.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the firm earned $1.82 earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. Sell-side analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WM shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $229.00 target price on shares of Waste Management in a report on Thursday, June 26th. Seaport Res Ptn upgraded shares of Waste Management to a “hold” rating in a report on Tuesday, May 6th. Scotiabank upped their price target on shares of Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a report on Thursday, July 31st. Melius started coverage on shares of Waste Management in a report on Monday, June 9th. They set a “buy” rating on the stock. Finally, UBS Group upped their price target on shares of Waste Management from $260.00 to $265.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and a consensus price target of $254.35.

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.