Burling Wealth Partners LLC Grows Stake in Waste Management, Inc. $WM

Burling Wealth Partners LLC raised its holdings in Waste Management, Inc. (NYSE:WM) by 24.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 23,516 shares of the business services provider’s stock after buying an additional 4,554 shares during the quarter. Waste Management accounts for about 1.0% of Burling Wealth Partners LLC’s investment portfolio, making the stock its 28th largest holding. Burling Wealth Partners LLC’s holdings in Waste Management were worth $5,381,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WM. Saudi Central Bank bought a new position in Waste Management in the 1st quarter worth $37,000. GKV Capital Management Co. Inc. purchased a new position in shares of Waste Management during the first quarter valued at about $38,000. Wealth Watch Advisors INC purchased a new stake in Waste Management in the second quarter worth about $43,000. New Age Alpha Advisors LLC bought a new stake in Waste Management during the 1st quarter valued at approximately $45,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Waste Management by 381.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock worth $47,000 after acquiring an additional 160 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WM. JPMorgan Chase & Co. lowered their target price on Waste Management from $277.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Citigroup raised their price objective on Waste Management from $268.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Truist Financial set a $260.00 target price on shares of Waste Management in a research report on Wednesday, October 29th. BMO Capital Markets increased their price target on shares of Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada dropped their price objective on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $248.79.

Waste Management Stock Up 0.4%

Shares of Waste Management stock opened at $204.55 on Friday. The company has a 50-day simple moving average of $213.09 and a two-hundred day simple moving average of $224.56. The stock has a market capitalization of $82.41 billion, a PE ratio of 32.21, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $242.58. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.82 and a current ratio of 0.84.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.03). The firm had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. Waste Management’s revenue was up 14.9% on a year-over-year basis. During the same period last year, the business earned $1.96 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, December 5th. Waste Management’s dividend payout ratio is presently 51.97%.

Waste Management Company 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.