Hartford Investment Management Co. Reduces Stock Position in Waste Management, Inc. (NYSE:WM)

Hartford Investment Management Co. reduced its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,516 shares of the business services provider’s stock after selling 435 shares during the quarter. Hartford Investment Management Co.’s holdings in Waste Management were worth $4,544,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in WM. Aberdeen Wealth Management LLC raised its stake in Waste Management by 1.1% during the 3rd quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after acquiring an additional 45 shares in the last quarter. Signature Estate & Investment Advisors LLC increased its position in shares of Waste Management by 3.9% during the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after purchasing an additional 46 shares in the last quarter. Benchmark Financial Wealth Advisors LLC lifted its holdings in shares of Waste Management by 1.9% in the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock valued at $546,000 after purchasing an additional 49 shares during the last quarter. Balboa Wealth Partners grew its stake in Waste Management by 4.1% during the 3rd quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock worth $256,000 after buying an additional 49 shares during the last quarter. Finally, Mcrae Capital Management Inc. increased its position in Waste Management by 0.7% during the third quarter. Mcrae Capital Management Inc. now owns 7,585 shares of the business services provider’s stock worth $1,575,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Waste Management stock opened at $227.42 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $91.28 billion, a P/E ratio of 33.44, a PEG ratio of 2.70 and a beta of 0.78. The stock has a fifty day moving average price of $211.89 and a 200 day moving average price of $211.74. Waste Management, Inc. has a 52 week low of $194.20 and a 52 week high of $230.39.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. Equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Insider Activity

In other news, VP Donald J. Smith sold 191 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.22, for a total transaction of $42,062.02. Following the completion of the sale, the vice president now owns 6,129 shares in the company, valued at approximately $1,349,728.38. The trade was a 3.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles C. Boettcher sold 693 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.59, for a total transaction of $152,868.87. Following the completion of the transaction, the executive vice president now owns 45,542 shares in the company, valued at $10,046,109.78. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,055 shares of company stock valued at $3,578,340 in the last ninety days. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WM. Oppenheimer raised their target price on shares of Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Truist Financial increased their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group lifted their price objective on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group decreased their target price on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. upped their price target on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Ten equities research 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $234.50.

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.