Waste Management, Inc. (NYSE:WM) Shares Sold by Summit Financial Group Inc.

Summit Financial Group Inc. trimmed its position in Waste Management, Inc. (NYSE:WMFree Report) by 2.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 14,605 shares of the business services provider’s stock after selling 360 shares during the quarter. Waste Management comprises about 1.1% of Summit Financial Group Inc.’s portfolio, making the stock its 24th biggest holding. Summit Financial Group Inc.’s holdings in Waste Management were worth $3,113,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Duncan Williams Asset Management LLC purchased a new position in Waste Management in the 1st quarter worth approximately $432,000. Kapitalo Investimentos Ltda purchased a new position in Waste Management in the 4th quarter worth approximately $50,000. HighPoint Advisor Group LLC purchased a new position in Waste Management in the 4th quarter worth approximately $8,444,000. Quadrature Capital Ltd purchased a new position in Waste Management in the 4th quarter worth approximately $4,804,000. Finally, Grayhawk Investment Strategies Inc. purchased a new position in Waste Management in the 4th quarter worth approximately $277,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Michael J. Watson sold 4,208 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the sale, the vice president now owns 45,644 shares in the company, valued at $9,324,156.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

Shares of WM stock traded up $1.51 during trading hours on Wednesday, hitting $207.89. The stock had a trading volume of 1,511,206 shares, compared to its average volume of 1,885,992. The stock’s 50 day moving average is $207.24 and its 200 day moving average is $197.93. The firm has a market capitalization of $83.38 billion, a PE ratio of 34.02, a PEG ratio of 2.40 and a beta of 0.74. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $214.54. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WMGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the firm posted $1.31 EPS. Waste Management’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts forecast that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, June 7th. Waste Management’s dividend payout ratio is presently 49.10%.

Wall Street Analyst Weigh In

WM has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Stifel Nicolaus lifted their price target on shares of Waste Management from $215.00 to $227.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Royal Bank of Canada lifted their price target on shares of Waste Management from $211.00 to $215.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Waste Management in a research report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price target on the stock. Finally, BMO Capital Markets lifted their price target on shares of Waste Management from $207.00 to $212.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average price target of $217.61.

View Our Latest Analysis on WM

Waste Management Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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