Waste Management, Inc. (NYSE:WM) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its position in Waste Management, Inc. (NYSE:WM) by 11.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,229 shares of the business services provider’s stock after acquiring an additional 630 shares during the quarter. Summit Trail Advisors LLC’s holdings in Waste Management were worth $1,329,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in shares of Waste Management by 6.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 49,025 shares of the business services provider’s stock worth $10,459,000 after purchasing an additional 2,760 shares during the last quarter. Sei Investments Co. raised its stake in Waste Management by 20.1% during the 2nd quarter. Sei Investments Co. now owns 225,389 shares of the business services provider’s stock valued at $48,085,000 after acquiring an additional 37,754 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in Waste Management by 4.4% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 104,311 shares of the business services provider’s stock valued at $22,254,000 after acquiring an additional 4,399 shares in the last quarter. AE Wealth Management LLC raised its stake in Waste Management by 39.5% during the 2nd quarter. AE Wealth Management LLC now owns 37,151 shares of the business services provider’s stock valued at $7,926,000 after acquiring an additional 10,529 shares in the last quarter. Finally, Bridges Investment Management Inc. raised its stake in Waste Management by 1,163.4% during the 2nd quarter. Bridges Investment Management Inc. now owns 17,043 shares of the business services provider’s stock valued at $3,636,000 after acquiring an additional 15,694 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Buying and Selling at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of research reports. Truist Financial dropped their price objective on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Oppenheimer dropped their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets dropped their price objective on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $215.83.

Waste Management Stock Performance

Shares of WM stock opened at $204.10 on Friday. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $81.86 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 2.33 and a beta of 0.74. The stock’s fifty day simple moving average is $208.53 and its 200-day simple moving average is $208.69.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the previous year, the company posted $1.51 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.75 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.47%. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Waste Management Company 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.