Summit Trail Advisors LLC Raises Stock Holdings in Waste Management, Inc. (NYSE:WM)

Summit Trail Advisors LLC raised its stake in Waste Management, Inc. (NYSE:WM) by 7.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,672 shares of the business services provider’s stock after acquiring an additional 443 shares during the period. Summit Trail Advisors LLC’s holdings in Waste Management were worth $1,385,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Activest Wealth Management boosted its position in shares of Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after buying an additional 120 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Waste Management in the second quarter valued at about $31,000. Fairway Wealth LLC lifted its holdings in Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares during the period. Fairscale Capital LLC bought a new position in Waste Management in the second quarter valued at about $39,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Waste Management in the second quarter valued at about $36,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley raised their price objective on Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Oppenheimer raised their price objective on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, BMO Capital Markets raised their price objective on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $226.11.

Insider Activity at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

WM opened at $224.41 on Monday. The business’s 50 day moving average is $212.84 and its 200-day moving average is $210.10. The stock has a market cap of $90.07 billion, a PE ratio of 34.31, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a twelve month low of $168.73 and a twelve month high of $226.84.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share 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 company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts predict that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.34%. Waste Management’s dividend payout ratio is presently 45.87%.

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.