Berkshire Asset Management LLC PA Sells 9,350 Shares of Waste Management, Inc. (NYSE:WM)

Berkshire Asset Management LLC PA lowered its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 245,136 shares of the business services provider's stock after selling 9,350 shares during the period. Waste Management comprises approximately 2.4% of Berkshire Asset Management LLC PA's holdings, making the stock its 9th largest holding. Berkshire Asset Management LLC PA owned about 0.06% of Waste Management worth $51,339,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC boosted its position in Waste Management by 0.8% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 278,185 shares of the business services provider's stock valued at $56,135,000 after purchasing an additional 2,127 shares in the last quarter. Nordea Investment Management AB boosted its position in Waste Management by 7.1% during the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider's stock valued at $854,446,000 after purchasing an additional 280,455 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Waste Management by 6.2% in the third quarter. Principal Financial Group Inc. now owns 480,534 shares of the business services provider's stock worth $99,759,000 after acquiring an additional 28,266 shares in the last quarter. Blue Trust Inc. boosted its holdings in Waste Management by 32.3% in the fourth quarter. Blue Trust Inc. now owns 7,365 shares of the business services provider's stock worth $1,529,000 after acquiring an additional 1,798 shares in the last quarter. Finally, Czech National Bank boosted its holdings in Waste Management by 6.4% in the fourth quarter. Czech National Bank now owns 79,192 shares of the business services provider's stock worth $15,980,000 after acquiring an additional 4,798 shares in the last quarter. Institutional investors own 80.40% of the company's stock.

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Waste Management Stock Performance

WM stock traded up $3.55 during trading on Friday, hitting $229.51. 1,906,115 shares of the company traded hands, compared to its average volume of 1,524,995. The stock's 50-day simple moving average is $218.22 and its 200 day simple moving average is $214.78. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. The company has a market cap of $92.29 billion, a PE ratio of 33.75, a P/E/G ratio of 2.71 and a beta of 0.75. Waste Management, Inc. has a 1 year low of $196.59 and a 1 year high of $235.81.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 EPS 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 37.93%. On average, equities analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.825 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Waste Management's previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.44%. Waste Management's payout ratio is 48.53%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com downgraded Waste Management from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Jefferies Financial Group lowered their price target on Waste Management from $255.00 to $238.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Morgan Stanley raised their price objective on Waste Management from $227.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Raymond James raised their price objective on Waste Management from $235.00 to $237.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Finally, Oppenheimer raised their price objective on Waste Management from $231.00 to $237.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.65.

Insider Activity

In other news, VP Michael J. Watson sold 1,547 shares of Waste Management stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $228.11, for a total value of $352,886.17. Following the sale, the vice president now directly owns 44,037 shares of the company's stock, valued at $10,045,280.07. The trade was a 3.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James C. Fish, Jr. sold 44,405 shares of Waste Management stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $228.43, for a total value of $10,143,434.15. Following the completion of the sale, the chief executive officer now directly owns 211,061 shares in the company, valued at $48,212,664.23. This represents a 17.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,173 shares of company stock worth $17,075,967 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Waste Management 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.