11,020 Shares in Waste Management, Inc. $WM Bought by Summit Wealth Group LLC Co.

Summit Wealth Group LLC Co. purchased a new position in Waste Management, Inc. (NYSE:WM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,020 shares of the business services provider’s stock, valued at approximately $2,247,000.

Several other hedge funds have also recently added to or reduced their stakes in WM. Morgan Stanley Institutional Investment Advisors LLC acquired a new stake in shares of Waste Management during the 2nd quarter valued at $322,479,000. Danske Bank A S bought a new stake in shares of Waste Management during the 2nd quarter worth $146,053,000. BlackRock Inc. grew its holdings in shares of Waste Management by 1.8% in the 2nd quarter. BlackRock Inc. now owns 30,733,944 shares of the business services provider’s stock worth $6,849,981,000 after acquiring an additional 535,079 shares during the last quarter. State Street Corp grew its holdings in shares of Waste Management by 2.9% in the 2nd quarter. State Street Corp now owns 18,008,931 shares of the business services provider’s stock worth $4,013,831,000 after acquiring an additional 507,209 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Waste Management by 90.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 806,172 shares of the business services provider’s stock worth $185,250,000 after buying an additional 382,079 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WM shares. Stifel Nicolaus boosted their target price on shares of Waste Management from $252.00 to $261.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Scotiabank boosted their price target on shares of Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a report on Thursday, July 16th. Oppenheimer reaffirmed an “outperform” rating and issued a $263.00 price target on shares of Waste Management in a research note on Thursday. Raymond James Financial set a $251.00 price objective on Waste Management in a report on Thursday. Finally, Wolfe Research initiated coverage on Waste Management in a research report on Tuesday, September 15th. They set a “peer perform” rating for the company. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $257.89.

Insider Transactions at Waste Management

In other Waste Management news, CAO John Carroll sold 1,365 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $219.90, for a total transaction of $300,163.50. Following the transaction, the chief accounting officer directly owned 3,509 shares of the company’s stock, valued at $771,629.10. This represents a 28.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Waste Management Price Performance

NYSE WM opened at $237.68 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.82 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $94.51 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 2.88 and a beta of 0.42. The company has a 50 day moving average price of $218.13 and a two-hundred day moving average price of $225.24. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, October 27th. The business services provider reported $2.15 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.03). The business had revenue of $6.85 billion for the quarter, compared to analyst estimates of $6.81 billion. Waste Management had a return on equity of 31.97% and a net margin of 11.78%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.98 EPS. As a group, equities analysts predict that Waste Management, Inc. will post 8.06 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were issued a $0.9450 dividend. The ex-dividend date was Friday, September 11th. This represents a $3.78 dividend on an annualized basis and a yield of 1.6%. Waste Management’s dividend payout ratio is currently 49.61%.

Waste Management Profile

Waste Management, Inc, doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure.

WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.