Burling Wealth Partners LLC Purchases 4,554 Shares of Waste Management, Inc. $WM

Burling Wealth Partners LLC boosted its position in Waste Management, Inc. (NYSE:WM) by 24.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,516 shares of the business services provider’s stock after purchasing an additional 4,554 shares during the quarter. Waste Management comprises 1.0% of Burling Wealth Partners LLC’s investment portfolio, making the stock its 28th biggest position. Burling Wealth Partners LLC’s holdings in Waste Management were worth $5,381,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Intrua Financial LLC boosted its stake in Waste Management by 2.0% during the second quarter. Intrua Financial LLC now owns 2,591 shares of the business services provider’s stock valued at $593,000 after buying an additional 52 shares during the period. Good Life Advisors LLC increased its stake in Waste Management by 3.3% in the 2nd quarter. Good Life Advisors LLC now owns 3,256 shares of the business services provider’s stock worth $745,000 after acquiring an additional 103 shares during the last quarter. WASHINGTON TRUST Co raised its holdings in shares of Waste Management by 1.7% in the 2nd quarter. WASHINGTON TRUST Co now owns 51,931 shares of the business services provider’s stock valued at $11,883,000 after acquiring an additional 891 shares in the last quarter. ABN Amro Investment Solutions bought a new stake in shares of Waste Management during the 2nd quarter valued at about $94,796,000. Finally, Geode Capital Management LLC grew its holdings in shares of Waste Management by 1.5% during the second quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider’s stock worth $1,972,856,000 after purchasing an additional 126,329 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 29th. Robert W. Baird upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $238.00 to $242.00 in a research report on Tuesday, November 4th. BMO Capital Markets increased their target price on Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a research note on Wednesday, July 30th. Scotiabank dropped their price target on Waste Management from $264.00 to $254.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 29th. Finally, William Blair reiterated an “outperform” rating on shares of Waste Management in a research report on Tuesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $248.79.

Waste Management Stock Up 0.4%

Shares of NYSE:WM opened at $204.55 on Friday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $242.58. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.36. The stock’s 50-day moving average price is $213.09 and its 200-day moving average price is $224.56. The stock has a market capitalization of $82.41 billion, a P/E ratio of 32.21, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62.

Waste Management (NYSE:WM) last issued its 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 company had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.96 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors 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 yield of 1.6%. The ex-dividend date is Friday, December 5th. Waste Management’s dividend payout ratio is currently 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.