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

Summit Wealth Group LLC Co. purchased a new stake in shares of Waste Management, Inc. (NYSE:WM) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 11,020 shares of the business services provider’s stock, valued at approximately $2,247,000.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Waste Management by 1.8% in the second quarter. BlackRock Inc. now owns 30,733,944 shares of the business services provider’s stock worth $6,849,981,000 after buying an additional 535,079 shares during the last quarter. State Street Corp grew its stake in 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 valued at $4,013,831,000 after buying an additional 507,209 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Waste Management by 1.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,121,427 shares of the business services provider’s stock worth $695,704,000 after acquiring an additional 35,322 shares during the period. Swedbank AB raised its holdings in Waste Management by 17.0% in the 1st quarter. Swedbank AB now owns 2,392,868 shares of the business services provider’s stock worth $549,857,000 after acquiring an additional 348,183 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Waste Management by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,320,966 shares of the business services provider’s stock worth $533,340,000 after acquiring an additional 26,847 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

NYSE WM opened at $237.68 on Tuesday. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.82 and a quick ratio of 0.87. The firm has a market capitalization of $94.51 billion, a price-to-earnings ratio of 31.19, a P/E/G ratio of 2.88 and a beta of 0.42. The company’s fifty day moving average is $218.13 and its two-hundred day moving average is $225.24. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Tuesday, October 27th. The business services provider reported $2.15 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.03). Waste Management had a net margin of 11.78% and a return on equity of 31.97%. The company had revenue of $6.85 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period in the prior year, the company posted $1.98 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Waste Management, Inc. will post 8.06 EPS for the current year.

Waste Management Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WM shares. Morgan Stanley decreased their price target on shares of Waste Management from $230.00 to $220.00 and set an “equal weight” rating for the company in a report on Tuesday, October 13th. Citigroup lifted their price objective on Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. TD Cowen reissued a “buy” rating on shares of Waste Management in a research report on Thursday. Barclays increased their target price on Waste Management from $277.00 to $283.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $263.00 target price on shares of Waste Management in a report on Thursday. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $257.89.

Insider Buying and Selling

In other Waste Management news, CAO John Carroll sold 1,365 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $219.90, for a total value of $300,163.50. Following the completion of the transaction, the chief accounting officer owned 3,509 shares of the company’s stock, valued at $771,629.10. This represents a 28.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by company insiders.

About Waste Management

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.