Summit Financial LLC Has $999,000 Holdings in Waste Management, Inc. (NYSE:WM)

Summit Financial LLC grew its position in Waste Management, Inc. (NYSE:WM) by 83.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,682 shares of the business services provider’s stock after buying an additional 2,133 shares during the quarter. Summit Financial LLC’s holdings in Waste Management were worth $999,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in WM. Victory Capital Management Inc. lifted its stake in Waste Management by 1.3% in the 4th quarter. Victory Capital Management Inc. now owns 234,770 shares of the business services provider’s stock worth $42,047,000 after acquiring an additional 2,962 shares in the last quarter. AJOVista LLC purchased a new stake in shares of Waste Management in the fourth quarter worth approximately $57,000. Connecticut Wealth Management LLC boosted its holdings in shares of Waste Management by 62.1% during the fourth quarter. Connecticut Wealth Management LLC now owns 2,285 shares of the business services provider’s stock worth $409,000 after purchasing an additional 875 shares during the period. Wealthcare Advisory Partners LLC grew its position in Waste Management by 8.6% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 15,875 shares of the business services provider’s stock valued at $2,843,000 after purchasing an additional 1,263 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in Waste Management by 4.1% in the 4th quarter. Private Advisor Group LLC now owns 63,221 shares of the business services provider’s stock valued at $11,323,000 after buying an additional 2,509 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the sale, the vice president now directly owns 45,644 shares in the company, valued at $9,324,156.32. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Waste Management Trading Up 1.0 %

Shares of NYSE:WM opened at $212.04 on Tuesday. The company has a market cap of $85.10 billion, a P/E ratio of 34.70, a P/E/G ratio of 2.37 and a beta of 0.74. The stock’s 50-day moving average is $209.80 and its 200-day moving average is $208.60. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $225.00.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the firm earned $1.51 EPS. The business’s revenue was up 5.5% on a year-over-year basis. Equities research analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.41%. Waste Management’s dividend payout ratio is 49.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WM shares. 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. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Royal Bank of Canada cut their price target on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Truist Financial lowered their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $215.83.

About Waste Management

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.