Waste Management, Inc. (NYSE:WM) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC lowered its position in shares of Waste Management, Inc. (NYSE:WM) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,277 shares of the business services provider’s stock after selling 202 shares during the period. Summit Trail Advisors LLC’s holdings in Waste Management were worth $945,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in WM. abrdn plc boosted its stake in shares of Waste Management by 315.7% during the third quarter. abrdn plc now owns 1,457,393 shares of the business services provider’s stock worth $222,165,000 after buying an additional 1,106,773 shares during the period. Mirova US LLC grew its stake in shares of Waste Management by 26,116.4% during the 4th quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock valued at $163,680,000 after buying an additional 910,418 shares during the period. Nordea Investment Management AB raised its holdings in shares of Waste Management by 16.9% in the 3rd quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock worth $827,815,000 after purchasing an additional 776,491 shares during the period. OMERS ADMINISTRATION Corp lifted its position in Waste Management by 128.2% during the third quarter. OMERS ADMINISTRATION Corp now owns 898,796 shares of the business services provider’s stock valued at $137,012,000 after buying an additional 504,924 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Waste Management by 13,927.7% in the fourth quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock worth $90,319,000 after acquiring an additional 500,701 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Waste Management stock traded up $2.68 during midday trading on Monday, hitting $210.56. The company’s stock had a trading volume of 1,502,012 shares, compared to its average volume of 1,681,530. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $214.54. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. The stock’s 50-day moving average price is $208.92 and its 200-day moving average price is $189.05. The company has a market capitalization of $84.45 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 2.71 and a beta of 0.72.

Waste Management (NYSE:WM) last posted its quarterly earnings results 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 firm had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the previous year, the business posted $1.31 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts anticipate that Waste Management, Inc. will post 7.26 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.42%. The ex-dividend date was Thursday, March 14th. This is a boost from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Insider Buying and Selling

In other news, VP Donald J. Smith sold 329 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $198.56, for a total value of $65,326.24. Following the transaction, the vice president now owns 5,522 shares of the company’s stock, valued at approximately $1,096,448.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Donald J. Smith sold 329 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $198.56, for a total value of $65,326.24. Following the sale, the vice president now directly owns 5,522 shares in the company, valued at approximately $1,096,448.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles C. Boettcher sold 2,500 shares of Waste Management stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total transaction of $523,750.00. Following the transaction, the executive vice president now directly owns 29,677 shares in the company, valued at $6,217,331.50. The disclosure for this sale can be found here. Insiders sold a total of 18,007 shares of company stock worth $3,696,520 over the last three months. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WM shares. CIBC lifted their target price on shares of Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a report on Monday, April 29th. HSBC cut Waste Management from a “buy” rating to a “hold” rating and set a $210.00 price target for the company. in a report on Thursday, February 15th. Oppenheimer boosted their target price on shares of Waste Management from $221.00 to $228.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 9th. Finally, TD Cowen boosted their price objective on shares of Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $216.24.

Waste Management Company 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.