Summit Trail Advisors LLC Purchases 443 Shares of Waste Management, Inc. (NYSE:WM)

Summit Trail Advisors LLC raised its stake in shares of Waste Management, Inc. (NYSE:WM) by 7.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,672 shares of the business services provider’s stock after acquiring an additional 443 shares during the quarter. Summit Trail Advisors LLC’s holdings in Waste Management were worth $1,385,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in WM. Parnassus Investments LLC increased its holdings in Waste Management by 11.3% in the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after buying an additional 520,096 shares during the period. Ameriprise Financial Inc. raised its position in Waste Management by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after purchasing an additional 12,664 shares in the last quarter. Legal & General Group Plc boosted its holdings in Waste Management by 6.8% during the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after purchasing an additional 243,900 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after purchasing an additional 2,588,842 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Waste Management by 11.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock worth $473,047,000 after buying an additional 221,380 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

NYSE WM opened at $224.41 on Monday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a market cap of $90.07 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 2.36 and a beta of 0.74. The business has a 50 day simple moving average of $212.84 and a 200 day simple moving average of $210.10. Waste Management, Inc. has a 52-week low of $168.73 and a 52-week high of $226.84.

Waste Management (NYSE:WM) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.63 EPS. Analysts anticipate that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

Analyst Ratings Changes

Several analysts have recently weighed in on WM shares. Argus raised their price objective on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Truist Financial lifted their price objective on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley increased their price objective on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Oppenheimer raised their price target on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $226.11.

Insider Transactions at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, the director now owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.18% of the company’s stock.

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.