Summit Global Investments lessened its stake in Waste Management, Inc. (NYSE:WM – Get Rating) by 30.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,240 shares of the business services provider’s stock after selling 17,409 shares during the quarter. Summit Global Investments’ holdings in Waste Management were worth $6,716,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in WM. MFA Wealth Advisors LLC increased its holdings in shares of Waste Management by 12,882.2% in the third quarter. MFA Wealth Advisors LLC now owns 4,752,779 shares of the business services provider’s stock worth $5,114,000 after acquiring an additional 4,716,169 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Waste Management during the fourth quarter worth about $84,113,000. Capital World Investors boosted its position in Waste Management by 30.7% during the third quarter. Capital World Investors now owns 2,134,772 shares of the business services provider’s stock valued at $318,850,000 after purchasing an additional 501,705 shares during the last quarter. Parnassus Investments LLC boosted its position in Waste Management by 5.1% during the third quarter. Parnassus Investments LLC now owns 6,614,129 shares of the business services provider’s stock valued at $987,886,000 after purchasing an additional 323,707 shares during the last quarter. Finally, Barclays PLC boosted its position in Waste Management by 46.4% during the fourth quarter. Barclays PLC now owns 973,784 shares of the business services provider’s stock valued at $162,525,000 after purchasing an additional 308,626 shares during the last quarter. Institutional investors own 80.37% of the company’s stock.
Several brokerages recently commented on WM. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 28th. cut Waste Management to a “hold” rating in a research report on Wednesday, February 9th. BMO Capital Markets cut Waste Management from an “outperform” rating to a “market perform” rating and set a $174.00 price objective for the company. in a research report on Tuesday, April 12th. Raymond James raised their price objective on Waste Management from $167.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, April 22nd. Finally, JPMorgan Chase & Co. began coverage on Waste Management in a research report on Tuesday, March 1st. They issued a “neutral” rating and a $153.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Waste Management has a consensus rating of “Hold” and an average price target of $161.57.
Waste Management stock traded down $1.59 during mid-day trading on Wednesday, reaching $156.01. 1,604,668 shares of the company were exchanged, compared to its average volume of 2,014,851. The company has a fifty day simple moving average of $158.91 and a 200-day simple moving average of $157.03. Waste Management, Inc. has a 12 month low of $136.97 and a 12 month high of $170.18. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.80 and a quick ratio of 0.76. The firm has a market cap of $64.78 billion, a PE ratio of 34.71, a PEG ratio of 2.53 and a beta of 0.79.
Waste Management (NYSE:WM – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The business services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.17. Waste Management had a return on equity of 29.67% and a net margin of 10.32%. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same quarter last year, the company earned $1.06 EPS. The company’s revenue was up 13.4% on a year-over-year basis. Sell-side analysts anticipate that Waste Management, Inc. will post 5.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 17th. Stockholders of record on Friday, June 3rd will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $2.60 annualized dividend and a dividend yield of 1.67%. Waste Management’s payout ratio is 57.27%.
Waste Management Company Profile (Get Rating)
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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