Summit Asset Management LLC bought a new stake in shares of Waste Management, Inc. (NYSE:WM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,217 shares of the business services provider’s stock, valued at approximately $200,000.
Other large investors also recently added to or reduced their stakes in the company. Kiley Juergens Wealth Management LLC bought a new stake in shares of Waste Management during the 2nd quarter worth $100,000. Point72 Hong Kong Ltd increased its holdings in Waste Management by 1,095.4% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,303 shares of the business services provider’s stock worth $106,000 after purchasing an additional 1,194 shares in the last quarter. Braun Bostich & Associates Inc. increased its holdings in Waste Management by 546.0% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,447 shares of the business services provider’s stock worth $118,000 after purchasing an additional 1,223 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Waste Management by 15.1% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 112,038 shares of the business services provider’s stock worth $128,000 after purchasing an additional 14,720 shares in the last quarter. Finally, Vigilant Capital Management LLC increased its holdings in Waste Management by 200.0% in the 3rd quarter. Vigilant Capital Management LLC now owns 1,500 shares of the business services provider’s stock worth $136,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.
In other news, VP Jeff M. Harris sold 24,500 shares of the stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $90.00, for a total value of $2,205,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.30% of the company’s stock.
Shares of WM stock opened at $89.89 on Friday. The stock has a market capitalization of $37.45 billion, a PE ratio of 27.92, a P/E/G ratio of 1.78 and a beta of 0.64. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 1.53. Waste Management, Inc. has a 1-year low of $78.33 and a 1-year high of $92.85.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, October 25th. The business services provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.04. The company had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Waste Management had a return on equity of 27.93% and a net margin of 15.60%. As a group, research analysts predict that Waste Management, Inc. will post 4.13 earnings per share for the current year.
WM has been the subject of a number of recent research reports. UBS Group set a $90.00 target price on Waste Management and gave the stock a “hold” rating in a report on Friday, October 26th. BMO Capital Markets reaffirmed a “buy” rating and issued a $93.00 target price on shares of Waste Management in a report on Thursday, July 26th. Raymond James reaffirmed a “buy” rating on shares of Waste Management in a report on Monday, October 29th. Oppenheimer reaffirmed a “buy” rating and issued a $95.00 target price on shares of Waste Management in a report on Thursday, October 25th. Finally, Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a report on Friday, October 19th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $95.50.
Waste Management Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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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