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

Allworth Financial LP boosted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 13.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,911 shares of the business services provider’s stock after buying an additional 1,734 shares during the quarter. Allworth Financial LP’s holdings in Waste Management were worth $3,153,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WM. Swedbank AB boosted its holdings 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 valued at $366,537,000 after acquiring an additional 709,678 shares during the period. Stratos Wealth Advisors LLC boosted its holdings in Waste Management by 32.2% during the third quarter. Stratos Wealth Advisors LLC now owns 1,781 shares of the business services provider’s stock valued at $370,000 after acquiring an additional 434 shares during the period. Blue Trust Inc. boosted its holdings in Waste Management by 57.4% during the third quarter. Blue Trust Inc. now owns 5,567 shares of the business services provider’s stock valued at $1,188,000 after acquiring an additional 2,031 shares during the period. Cyndeo Wealth Partners LLC boosted its holdings in Waste Management by 7.8% during the third quarter. Cyndeo Wealth Partners LLC now owns 2,567 shares of the business services provider’s stock valued at $533,000 after acquiring an additional 185 shares during the period. Finally, OLD National Bancorp IN boosted its holdings in Waste Management by 14.0% during the third quarter. OLD National Bancorp IN now owns 7,071 shares of the business services provider’s stock valued at $1,468,000 after acquiring an additional 868 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WM shares. Morgan Stanley increased their target price on shares of Waste Management from $227.00 to $235.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Waste Management in a research note on Friday, January 31st. Stifel Nicolaus increased 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. BMO Capital Markets increased their target price on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $235.94.

Insiders Place Their Bets

In other news, SVP Tara J. Hemmer sold 4,576 shares of Waste Management stock in a transaction 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 transaction, the senior vice president now directly owns 58,765 shares of the company’s stock, valued at $13,052,881.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Rafael Carrasco sold 4,000 shares of Waste Management stock in a transaction on Friday, February 7th. The stock was sold at an average price of $225.89, for a total transaction of $903,560.00. Following the transaction, the senior vice president now directly owns 18,531 shares in the company, valued at approximately $4,185,967.59. This represents a 17.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,055 shares of company stock valued at $3,578,340. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

NYSE WM opened at $227.80 on Tuesday. The firm has a market cap of $91.43 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 2.70 and a beta of 0.78. The company has a 50 day moving average of $212.11 and a 200-day moving average of $212.29. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $230.39.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates 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 forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal 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.