Waste Management, Inc. (NYSE:WM) is Palumbo Wealth Management LLC’s 8th Largest Position

Palumbo Wealth Management LLC grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,744 shares of the business services provider’s stock after buying an additional 2,191 shares during the quarter. Waste Management accounts for 2.5% of Palumbo Wealth Management LLC’s portfolio, making the stock its 8th largest position. Palumbo Wealth Management LLC’s holdings in Waste Management were worth $6,809,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WM. Inspire Investing LLC grew its stake in Waste Management by 10.9% during the third quarter. Inspire Investing LLC now owns 1,370 shares of the business services provider’s stock worth $284,000 after buying an additional 135 shares during the period. Swedbank AB grew its stake in Waste Management by 67.2% during the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after buying an additional 709,678 shares during the period. Cornerstone Wealth Management LLC boosted its stake in shares of Waste Management by 9.7% in the third quarter. Cornerstone Wealth Management LLC now owns 3,444 shares of the business services provider’s stock valued at $715,000 after purchasing an additional 305 shares during the period. Good Life Advisors LLC boosted its stake in shares of Waste Management by 5.6% in the third quarter. Good Life Advisors LLC now owns 3,425 shares of the business services provider’s stock valued at $711,000 after purchasing an additional 182 shares during the period. Finally, Secure Asset Management LLC purchased a new position in shares of Waste Management in the third quarter valued at $371,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Waste Management

In other Waste Management news, CAO John A. Carroll sold 209 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $220.55, for a total transaction of $46,094.95. Following the sale, the chief accounting officer now directly owns 9,066 shares in the company, valued at approximately $1,999,506.30. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donald J. Smith sold 191 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.22, for a total transaction of $42,062.02. Following the sale, the vice president now owns 6,129 shares in the company, valued at $1,349,728.38. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,055 shares of company stock worth $3,578,340 in the last ninety days. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on WM shares. William Blair restated an “outperform” rating on shares of Waste Management in a research note on Friday, January 31st. StockNews.com downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Stifel Nicolaus upped their target price on shares of Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. CIBC upped their target price on shares of Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, UBS Group raised their price objective on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and a consensus target price of $235.94.

Waste Management Trading Up 0.1 %

Waste Management stock opened at $227.80 on Friday. The firm’s 50-day moving average is $212.11 and its 200-day moving average is $212.15. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management, Inc. has a 1 year low of $196.59 and a 1 year high of $230.39. The company has a market cap of $91.43 billion, a P/E ratio of 33.50, a PEG ratio of 2.70 and a beta of 0.78.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. On average, equities analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

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.