Waste Management, Inc. (NYSE:WM) Stake Boosted by Summit Global Investments

Summit Global Investments grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 67.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,367 shares of the business services provider’s stock after purchasing an additional 12,607 shares during the period. Summit Global Investments’ holdings in Waste Management were worth $6,512,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. LS Investment Advisors LLC raised its position in shares of Waste Management by 0.5% during the 3rd quarter. LS Investment Advisors LLC now owns 27,504 shares of the business services provider’s stock worth $5,710,000 after purchasing an additional 145 shares during the period. Mine & Arao Wealth Creation & Management LLC. grew its stake in Waste Management by 64.7% during the 3rd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 2,484 shares of the business services provider’s stock worth $516,000 after buying an additional 976 shares during the last quarter. Trinity Legacy Partners LLC increased its position in Waste Management by 3.8% in the third quarter. Trinity Legacy Partners LLC now owns 28,929 shares of the business services provider’s stock worth $6,176,000 after buying an additional 1,061 shares during the period. Portside Wealth Group LLC lifted its stake in Waste Management by 7.5% in the third quarter. Portside Wealth Group LLC now owns 2,390 shares of the business services provider’s stock valued at $496,000 after buying an additional 167 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Waste Management by 6.2% during 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 during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Trading Up 0.9 %

Shares of NYSE:WM opened at $220.44 on Friday. Waste Management, Inc. has a 12-month low of $168.73 and a 12-month high of $225.00. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $88.48 billion, a P/E ratio of 33.71, a price-to-earnings-growth ratio of 2.31 and a beta of 0.74. The firm has a fifty day moving average of $209.76 and a two-hundred day moving average of $209.06.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.63 EPS. On average, equities analysts expect that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio is 45.87%.

Insider Buying and Selling

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Truist Financial raised their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird reduced their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, BMO Capital Markets upped their price target on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and a consensus price target of $226.11.

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.