Burns J W & Co. Inc. NY Sells 815 Shares of Waste Management, Inc. (NYSE:WM)

Burns J W & Co. Inc. NY lessened its position in shares of Waste Management, Inc. (NYSE:WM) by 1.8% in the 1st quarter, HoldingsChannel reports. The fund owned 45,485 shares of the business services provider’s stock after selling 815 shares during the period. Waste Management makes up about 1.3% of Burns J W & Co. Inc. NY’s portfolio, making the stock its 18th largest holding. Burns J W & Co. Inc. NY’s holdings in Waste Management were worth $9,695,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sachetta LLC acquired a new stake in Waste Management during the 4th quarter worth $27,000. Gilfoyle & Co LLC acquired a new stake in Waste Management in the fourth quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in Waste Management during the first quarter worth approximately $35,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Waste Management in the 4th quarter valued at $36,000. Finally, DSM Capital Partners LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at about $38,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction that occurred on 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 directly owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WM. Deutsche Bank Aktiengesellschaft began coverage on shares of Waste Management in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price objective on the stock. Truist Financial upped their price target on shares of Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Oppenheimer upped their price target on Waste Management from $221.00 to $228.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Stifel Nicolaus boosted their target price on shares of Waste Management from $215.00 to $227.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, BMO Capital Markets lifted their price objective on shares of Waste Management from $207.00 to $212.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $217.61.

Waste Management Stock Up 0.3 %

Shares of Waste Management stock traded up $0.67 during midday trading on Friday, reaching $213.34. 2,908,229 shares of the company’s stock traded hands, compared to its average volume of 1,972,412. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. The company has a market cap of $85.57 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74. The company’s 50 day simple moving average is $208.06 and its 200 day simple moving average is $199.69. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $214.54.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the company earned $1.31 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts expect that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a $0.75 dividend. The ex-dividend date was Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.41%. Waste Management’s dividend payout ratio is currently 49.10%.

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.