Brookmont Capital Management Makes New $2.71 Million Investment in Waste Management, Inc. $WM

Brookmont Capital Management purchased a new stake in Waste Management, Inc. (NYSE:WM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,259 shares of the business services provider’s stock, valued at approximately $2,707,000. Waste Management comprises 1.5% of Brookmont Capital Management’s investment portfolio, making the stock its 20th biggest position.

Several other hedge funds also recently bought and sold shares of WM. Cornercap Investment Counsel Inc. purchased a new stake in shares of Waste Management in the third quarter valued at $1,583,000. Lockheed Martin Investment Management Co. purchased a new position in Waste Management in the third quarter valued at approximately $3,092,000. Guerra Advisors Inc boosted its position in Waste Management by 59.5% during the 3rd quarter. Guerra Advisors Inc now owns 9,037 shares of the business services provider’s stock worth $1,996,000 after purchasing an additional 3,371 shares during the period. Wealthfront Advisers LLC boosted its position in shares of Waste Management by 3.1% in the second quarter. Wealthfront Advisers LLC now owns 57,093 shares of the business services provider’s stock worth $13,064,000 after buying an additional 1,698 shares during the period. Finally, GPM Growth Investors Inc. grew its position in Waste Management by 50.6% in 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 in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of WM opened at $230.28 on Tuesday. 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 firm’s 50 day moving average is $224.40 and its 200-day moving average is $219.27. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $242.58. The stock 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 posted its quarterly earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.02). The business had revenue of $6.31 billion during 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 quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.70 EPS. Equities research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. TD Cowen boosted their price target on Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Stifel Nicolaus raised their target price on Waste Management from $236.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Weiss Ratings upgraded shares of Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Robert W. Baird raised Waste Management from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $238.00 to $242.00 in a report on Tuesday, November 4th. Finally, Canadian Imperial Bank of Commerce lowered their target price on Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and a consensus price target of $253.55.

Insider Transactions at Waste Management

In other Waste Management news, SVP Tara J. Hemmer sold 690 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $219.71, for a total transaction of $151,599.90. Following the completion of the sale, the senior vice president directly owned 83,736 shares of the company’s stock, valued at approximately $18,397,636.56. This represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rafael Carrasco sold 7,352 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $234.50, for a total transaction of $1,724,044.00. Following the completion of the transaction, the senior vice president directly owned 15,540 shares of the company’s stock, valued at $3,644,130. This represents a 32.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 62,746 shares of company stock worth $14,470,494 in the last three months. Insiders own 0.18% of the company’s stock.

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.