Berkshire Asset Management LLC PA Trims Stake in Waste Management, Inc. (NYSE:WM)

Berkshire Asset Management LLC PA lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 360,888 shares of the business services provider’s stock after selling 1,073 shares during the quarter. Waste Management comprises about 3.2% of Berkshire Asset Management LLC PA’s investment portfolio, making the stock its 3rd biggest holding. Berkshire Asset Management LLC PA owned 0.08% of Waste Management worth $37,500,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in Waste Management by 10.7% during the third quarter. Pacer Advisors Inc. now owns 21,399 shares of the business services provider’s stock valued at $1,934,000 after purchasing an additional 2,062 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Waste Management by 29.5% during the third quarter. Advisors Asset Management Inc. now owns 14,141 shares of the business services provider’s stock valued at $1,278,000 after purchasing an additional 3,225 shares in the last quarter. Mutual Advisors LLC acquired a new stake in Waste Management during the third quarter valued at approximately $206,000. Glenmede Trust Co. NA boosted its holdings in Waste Management by 822.5% during the third quarter. Glenmede Trust Co. NA now owns 426,909 shares of the business services provider’s stock valued at $38,575,000 after purchasing an additional 380,632 shares in the last quarter. Finally, Resources Management Corp CT ADV acquired a new stake in Waste Management during the third quarter valued at approximately $224,000. 75.79% of the stock is currently owned by hedge funds and other institutional investors.

WM has been the topic of a number of recent research reports. Argus lifted their price objective on Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating in a report on Monday, April 15th. UBS Group raised Waste Management from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $90.00 to $103.00 in a report on Thursday, January 10th. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Saturday, January 19th. Finally, Oppenheimer boosted their target price on Waste Management from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Waste Management presently has an average rating of “Buy” and a consensus target price of $105.22.

In related news, VP Michael J. Watson sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $104.55, for a total value of $73,185.00. Following the completion of the transaction, the vice president now owns 9,518 shares in the company, valued at approximately $995,106.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Devina A. Rankin sold 692 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $98.80, for a total transaction of $68,369.60. Following the completion of the transaction, the chief financial officer now owns 22,128 shares of the company’s stock, valued at approximately $2,186,246.40. The disclosure for this sale can be found here. Insiders sold a total of 47,222 shares of company stock valued at $4,994,409 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Shares of WM traded up $0.40 on Thursday, hitting $105.22. The company’s stock had a trading volume of 915,362 shares, compared to its average volume of 1,765,838. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.69 and a quick ratio of 0.66. Waste Management, Inc. has a fifty-two week low of $79.96 and a fifty-two week high of $107.45. The company has a market capitalization of $44.98 billion, a P/E ratio of 25.05, a PEG ratio of 2.88 and a beta of 0.67.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.03. Waste Management had a net margin of 12.43% and a return on equity of 29.12%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the previous year, the company posted $0.91 EPS. Waste Management’s revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that Waste Management, Inc. will post 4.32 EPS for the current fiscal year.

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Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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