Summit Global Investments Buys 12,607 Shares of Waste Management, Inc. (NYSE:WM)

Summit Global Investments increased its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 67.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,367 shares of the business services provider's stock after buying an additional 12,607 shares during the quarter. Summit Global Investments' holdings in Waste Management were worth $6,512,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in 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 acquiring an additional 2,588,842 shares in the last quarter. Sustainable Growth Advisers LP purchased a new stake in Waste Management during the 1st quarter worth approximately $300,594,000. Capital World Investors lifted its holdings in Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider's stock worth $900,957,000 after buying an additional 1,303,466 shares in the last quarter. Swedbank AB purchased a new position in Waste Management in the 1st quarter valued at approximately $193,955,000. Finally, Wulff Hansen & CO. grew its stake in Waste Management by 20,402.6% during the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider's stock worth $185,196,000 after purchasing an additional 863,846 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Stock Performance

Shares of NYSE WM traded up $4.44 during trading hours on Friday, hitting $224.88. 1,180,628 shares of the stock were exchanged, compared to its average volume of 1,618,360. Waste Management, Inc. has a one year low of $168.73 and a one year high of $226.36. The company's 50 day moving average is $209.76 and its 200 day moving average is $209.06. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The firm has a market capitalization of $90.26 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.31 and a beta of 0.74.

Waste Management (NYSE:WM - Get Free Report) last released its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (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 firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm posted $1.63 EPS. The company's revenue was up 7.9% on a year-over-year basis. On average, research analysts expect that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management's dividend payout ratio is 45.87%.

Analysts Set New Price Targets

Several research firms have issued reports on WM. BMO Capital Markets boosted their price objective on shares of Waste Management from $213.00 to $220.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 30th. Scotiabank began coverage on shares of Waste Management in a research report on Friday, October 4th. They issued a "sector perform" rating and a $220.00 price objective for the company. Robert W. Baird decreased their target price on shares of Waste Management from $226.00 to $216.00 and set a "neutral" rating for the company in a research note on Friday, July 26th. William Blair started coverage on shares of Waste Management in a report on Thursday, October 3rd. They issued an "outperform" rating on the stock. Finally, Truist Financial raised their target price on Waste Management from $235.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.11.

Insider Buying and Selling at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, the director now directly owns 3,875 shares of the company's stock, valued at approximately $834,946.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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.