Brookmont Capital Management Acquires New Shares in Waste Management, Inc. $WM

Brookmont Capital Management purchased a new stake in Waste Management, Inc. (NYSE:WM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 12,259 shares of the business services provider’s stock, valued at approximately $2,707,000. Waste Management makes up 1.5% of Brookmont Capital Management’s holdings, making the stock its 20th biggest holding.

Several other large investors also recently made changes to their positions in WM. Cornercap Investment Counsel Inc. bought a new stake in Waste Management during the third quarter worth approximately $1,583,000. Lockheed Martin Investment Management Co. acquired a new position in Waste Management in the 3rd quarter valued at $3,092,000. Guerra Advisors Inc raised its holdings in Waste Management by 59.5% in the 3rd quarter. Guerra Advisors Inc now owns 9,037 shares of the business services provider’s stock worth $1,996,000 after acquiring an additional 3,371 shares during the period. Wealthfront Advisers LLC lifted its position in Waste Management by 3.1% during the 2nd quarter. Wealthfront Advisers LLC now owns 57,093 shares of the business services provider’s stock worth $13,064,000 after acquiring an additional 1,698 shares during the last quarter. Finally, GPM Growth Investors Inc. boosted its holdings in Waste Management by 50.6% during the second quarter. GPM Growth Investors Inc. now owns 16,640 shares of the business services provider’s stock valued at $3,808,000 after acquiring an additional 5,588 shares during the period. Institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on WM. Royal Bank Of Canada boosted their price objective on Waste Management from $223.00 to $235.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. upped their price target on Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, December 1st. Weiss Ratings upgraded shares of Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Barclays cut their target price on shares of Waste Management from $266.00 to $265.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. Finally, The Goldman Sachs Group started coverage on shares of Waste Management in a research report on Monday, November 24th. They issued a “buy” rating and a $256.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $253.55.

Waste Management Stock Performance

Waste Management stock opened at $230.28 on Tuesday. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $242.58. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.85. The stock has a fifty day moving average price of $224.40 and a two-hundred day moving average price of $219.27. The firm has a market capitalization of $92.88 billion, a P/E ratio of 34.37, a P/E/G ratio of 2.44 and a beta of 0.58.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.02). The firm had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.39 billion. Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.70 EPS. As a group, analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO James C. Fish, Jr. sold 30,390 shares of Waste Management stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $230.36, for a total value of $7,000,640.40. Following the completion of the transaction, the chief executive officer directly owned 225,793 shares of the company’s stock, valued at $52,013,675.48. The trade was a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Donald J. Smith sold 12,194 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.48, for a total transaction of $2,847,055.12. Following the sale, the vice president directly owned 6,024 shares in the company, valued at approximately $1,406,483.52. This represents a 66.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 62,746 shares of company stock worth $14,470,494 over the last ninety days. 0.18% of the stock is owned by insiders.

Waste Management Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.