Covenant Asset Management LLC Has $2.62 Million Stock Position in Waste Management, Inc. (NYSE:WM)

Covenant Asset Management LLC decreased its position in Waste Management, Inc. (NYSE:WM) by 2.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,989 shares of the business services provider’s stock after selling 265 shares during the period. Covenant Asset Management LLC’s holdings in Waste Management were worth $2,621,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Activest Wealth Management boosted its stake in Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after purchasing an additional 120 shares during the period. Global Wealth Strategies & Associates boosted its stake in Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after purchasing an additional 125 shares during the period. General Partner Inc. acquired a new position in Waste Management in the 4th quarter worth $29,000. Sugar Maple Asset Management LLC acquired a new position in Waste Management in the 4th quarter worth $35,000. Finally, Pineridge Advisors LLC acquired a new position in Waste Management in the 4th quarter worth $35,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Activity

In other news, SVP Rafael Carrasco sold 4,000 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $225.89, for a total transaction of $903,560.00. Following the completion of the transaction, the senior vice president now owns 18,531 shares of the company’s stock, valued at approximately $4,185,967.59. This trade represents a 17.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles C. Boettcher sold 693 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 45,542 shares of the company’s stock, 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. Over the last 90 days, insiders sold 16,055 shares of company stock valued at $3,578,340. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

WM has been the subject of a number of research analyst reports. CIBC upped their target price on shares of Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Citigroup boosted their price target on shares of Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Scotiabank boosted their price target on shares of Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. UBS Group boosted their price target on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, William Blair reissued an “outperform” rating on shares of Waste Management in a research report on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $234.50.

Waste Management Stock Performance

Shares of Waste Management stock opened at $227.80 on Friday. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $230.39. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The firm has a market capitalization of $91.43 billion, a P/E ratio of 33.50, a P/E/G ratio of 2.70 and a beta of 0.78. The company’s 50 day moving average price is $212.00 and its two-hundred day moving average price is $211.96.

Waste Management (NYSE:WM) last issued its 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.