Summit Trail Advisors LLC Raises Stock Position in Waste Management, Inc. (NYSE:WM)

Summit Trail Advisors LLC increased its position in shares of Waste Management, Inc. (NYSE:WM) by 21.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,119 shares of the business services provider’s stock after buying an additional 1,447 shares during the quarter. Summit Trail Advisors LLC’s holdings in Waste Management were worth $1,638,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Waste Management by 2.1% during the third quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock worth $1,686,203,000 after buying an additional 168,818 shares during the period. Parnassus Investments LLC boosted its holdings in Waste Management by 11.3% in the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after purchasing an additional 520,096 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Waste Management by 7.1% in the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after purchasing an additional 280,455 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Waste Management by 94,414.4% in the third 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 in the last quarter. Finally, Barclays PLC boosted its holdings in Waste Management by 12.8% in the third quarter. Barclays PLC now owns 2,433,408 shares of the business services provider’s stock valued at $505,175,000 after purchasing an additional 276,287 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WM shares. Truist Financial upped 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. JPMorgan Chase & Co. increased their price objective on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Argus increased their price objective on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, October 31st. UBS Group increased their price objective on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus increased their price objective on Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $234.50.

Waste Management Trading Up 0.5 %

Shares of WM stock opened at $225.95 on Tuesday. The stock has a market cap of $90.69 billion, a P/E ratio of 33.23, a P/E/G ratio of 2.70 and a beta of 0.78. The business has a fifty day simple moving average of $211.84 and a 200-day simple moving average of $211.35. Waste Management, Inc. has a fifty-two week low of $187.48 and a fifty-two week high of $230.39. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. On average, analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio is presently 44.12%.

Insiders Place Their Bets

In other news, EVP Charles C. Boettcher sold 693 shares of Waste Management stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.59, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Rafael Carrasco sold 4,000 shares of Waste Management stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $225.89, for a total value of $903,560.00. Following the completion of the transaction, the senior vice president now directly owns 18,531 shares in the company, valued at $4,185,967.59. This represents a 17.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,055 shares of company stock valued at $3,578,340. 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.