Summit Global Investments Lowers Stock Holdings in Waste Management, Inc. $WM

Summit Global Investments lowered its position in Waste Management, Inc. (NYSE:WM) by 91.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,053 shares of the business services provider’s stock after selling 11,575 shares during the period. Summit Global Investments’ holdings in Waste Management were worth $242,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Waste Management in the 4th quarter worth approximately $1,022,916,000. Corient Private Wealth LLC raised its position in shares of Waste Management by 279.0% during the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock valued at $236,387,000 after buying an additional 792,037 shares during the last quarter. Diamant Asset Management Inc. lifted its holdings in shares of Waste Management by 23,051.5% in the first quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock worth $17,716,000 after buying an additional 767,615 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Waste Management by 3,209.2% during the third quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider’s stock worth $150,466,000 after acquiring an additional 660,776 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Waste Management by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider’s stock valued at $8,566,508,000 after acquiring an additional 553,605 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on WM shares. Wells Fargo & Company decreased their price target on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Citigroup raised their price objective on Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Royal Bank Of Canada lifted their target price on Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Barclays increased their price target on Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Canadian Imperial Bank of Commerce upgraded Waste Management from a “hold” rating to an “outperformer” rating and set a $244.00 price target for the company in a report on Tuesday, July 7th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $256.74.

Waste Management Stock Performance

Shares of NYSE:WM opened at $237.17 on Friday. The firm has a fifty day simple moving average of $223.79 and a two-hundred day simple moving average of $226.99. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The stock has a market capitalization of $95.24 billion, a P/E ratio of 34.32, a PEG ratio of 2.88 and a beta of 0.44.

Waste Management (NYSE:WM) last announced its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.67 EPS. On average, analysts expect that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management’s dividend payout ratio (DPR) is presently 54.70%.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.