Summit Trail Advisors LLC Sells 202 Shares of Waste Management, Inc. (NYSE:WM)

Summit Trail Advisors LLC cut its stake in Waste Management, Inc. (NYSE:WM) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fi3 FINANCIAL ADVISORS LLC bought a new position in shares of Waste Management during the fourth quarter valued at approximately $224,000. Clearstead Trust LLC raised its position in shares of Waste Management by 9.0% in the 4th quarter. Clearstead Trust LLC now owns 18,680 shares of the business services provider’s stock worth $3,346,000 after purchasing an additional 1,545 shares during the last quarter. Connecticut Wealth Management LLC increased its stake in Waste Management by 62.1% during the 4th quarter. Connecticut Wealth Management LLC now owns 2,285 shares of the business services provider’s stock valued at $409,000 after purchasing an additional 875 shares in the last quarter. Alan B Lancz & Associates Inc. purchased a new stake in shares of Waste Management during the fourth quarter valued at approximately $233,000. Finally, TCG Advisory Services LLC bought a new stake in shares of Waste Management during the fourth quarter valued at approximately $576,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

In related news, VP Donald J. Smith sold 329 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $198.56, for a total value of $65,326.24. Following the transaction, the vice president now directly owns 5,522 shares of the company’s stock, valued at approximately $1,096,448.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Devina A. Rankin sold 775 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total transaction of $153,899.50. Following the transaction, the chief financial officer now directly owns 75,204 shares in the company, valued at approximately $14,934,010.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the vice president now directly owns 5,522 shares of the company’s stock, valued at approximately $1,096,448.32. The disclosure for this sale can be found here. Insiders have sold a total of 18,007 shares of company stock worth $3,696,520 in the last ninety days. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WM has been the topic of several recent analyst reports. Citigroup increased their target price on Waste Management from $215.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Truist Financial boosted their target price on Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Morgan Stanley lifted their price target on shares of Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Oppenheimer increased their price objective on shares of Waste Management from $221.00 to $228.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, TD Cowen lifted their price objective on Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Ten investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $216.24.

Waste Management Trading Up 1.3 %

Shares of Waste Management stock traded up $2.68 on Monday, hitting $210.56. 1,502,012 shares of the company traded hands, compared to its average volume of 1,681,530. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $214.54. The company has a market cap of $84.45 billion, a PE ratio of 34.02, a PEG ratio of 2.71 and a beta of 0.72. 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 current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. The firm had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $1.31 earnings per share. Equities research analysts predict that Waste Management, Inc. will post 7.26 EPS for the current year.

Waste Management Increases Dividend

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

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.