Summit Global Investments Has $6.51 Million Stock Position in Waste Management, Inc. (NYSE:WM)

Summit Global Investments lifted its position in shares of Waste Management, Inc. (NYSE:WM) by 67.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,367 shares of the business services provider’s stock after purchasing an additional 12,607 shares during the quarter. Summit Global Investments’ holdings in Waste Management were worth $6,512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Trium Capital LLP boosted its holdings in Waste Management by 33.6% during the third quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock valued at $2,498,000 after purchasing an additional 3,029 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of Waste Management by 77.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock worth $2,553,000 after buying an additional 5,367 shares during the period. Pinkerton Retirement Specialists LLC boosted its stake in Waste Management by 18.6% in the 1st quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock valued at $4,284,000 after buying an additional 3,145 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Waste Management by 417.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock valued at $720,000 after acquiring an additional 2,800 shares during the period. Finally, Swedbank AB raised its stake in Waste Management by 67.2% during the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after acquiring an additional 709,678 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WM shares. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a report on Wednesday. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Morgan Stanley lifted their target price on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Truist Financial increased their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $226.11.

Waste Management Stock Performance

Shares of Waste Management stock opened at $220.44 on Friday. The firm has a fifty day moving average of $209.76 and a two-hundred day moving average of $209.06. 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 capitalization of $88.48 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 2.31 and a beta of 0.74. Waste Management, Inc. has a 52 week low of $168.73 and a 52 week high of $225.00.

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 analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the business posted $1.63 EPS. Waste Management’s revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts predict that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Dividend Announcement

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

Insider Activity at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $834,946.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

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.