Allworth Financial LP Has $3.15 Million Position in Waste Management, Inc. (NYSE:WM)

Allworth Financial LP raised its holdings in Waste Management, Inc. (NYSE:WM) by 13.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 14,911 shares of the business services provider’s stock after acquiring an additional 1,734 shares during the quarter. Allworth Financial LP’s holdings in Waste Management were worth $3,153,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Principal Securities Inc. increased its stake in Waste Management by 31.5% in the 4th quarter. Principal Securities Inc. now owns 5,306 shares of the business services provider’s stock valued at $1,071,000 after buying an additional 1,272 shares during the last quarter. Palumbo Wealth Management LLC increased its stake in shares of Waste Management by 6.9% during the 4th quarter. Palumbo Wealth Management LLC now owns 33,744 shares of the business services provider’s stock worth $6,809,000 after purchasing an additional 2,191 shares during the last quarter. bLong Financial LLC acquired a new position in shares of Waste Management during the 4th quarter worth about $378,000. Beacon Capital Management LLC increased its stake in shares of Waste Management by 57.8% during the 4th quarter. Beacon Capital Management LLC now owns 273 shares of the business services provider’s stock worth $55,000 after purchasing an additional 100 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. increased its stake in shares of Waste Management by 22.1% during the 4th quarter. Guyasuta Investment Advisors Inc. now owns 16,597 shares of the business services provider’s stock worth $3,349,000 after purchasing an additional 3,000 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Tara J. Hemmer sold 4,576 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $222.12, for a total transaction of $1,016,421.12. Following the sale, the senior vice president now owns 58,765 shares in the company, valued at approximately $13,052,881.80. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Charles C. Boettcher sold 693 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.59, for a total transaction of $152,868.87. Following the sale, the executive vice president now owns 45,542 shares in the company, valued at $10,046,109.78. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,055 shares of company stock worth $3,578,340. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

Shares of NYSE:WM opened at $227.80 on Tuesday. The company’s 50 day moving average price is $212.11 and its two-hundred day moving average price is $212.29. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $230.39. The firm has a market cap of $91.43 billion, a PE ratio of 33.50, a PEG ratio of 2.70 and a beta of 0.78. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. Equities research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WM has been the topic of several recent analyst reports. CIBC boosted their price objective on shares of Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Scotiabank boosted their price objective on shares of Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Finally, William Blair reissued an “outperform” rating on shares of Waste Management in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.94.

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.