Waste Management, Inc. (NYSE:WM) Shares Bought by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. grew its stake in Waste Management, Inc. (NYSE:WM) by 36.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,348 shares of the business services provider’s stock after purchasing an additional 11,884 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Waste Management were worth $8,949,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of WM. NewEdge Advisors LLC grew its position in shares of Waste Management by 11.4% in the 2nd quarter. NewEdge Advisors LLC now owns 43,413 shares of the business services provider’s stock worth $9,262,000 after acquiring an additional 4,435 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Waste Management by 106.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 118,794 shares of the business services provider’s stock worth $25,344,000 after purchasing an additional 61,142 shares during the period. Sunbelt Securities Inc. increased its stake in Waste Management by 9.5% during the second quarter. Sunbelt Securities Inc. now owns 826 shares of the business services provider’s stock valued at $176,000 after purchasing an additional 72 shares during the last quarter. Quarry LP raised its holdings in shares of Waste Management by 209.0% during the second quarter. Quarry LP now owns 683 shares of the business services provider’s stock worth $146,000 after purchasing an additional 462 shares during the period. Finally, EP Wealth Advisors LLC lifted its position in shares of Waste Management by 50.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 13,766 shares of the business services provider’s stock worth $2,937,000 after buying an additional 4,628 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 4th. Scotiabank raised Waste Management from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $225.00 to $250.00 in a report on Monday. Argus increased their target price on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, William Blair began coverage on shares of Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.39.

Waste Management Trading Down 0.0 %

Shares of Waste Management stock opened at $213.62 on Wednesday. The business has a fifty day simple moving average of $212.54 and a 200-day simple moving average of $211.30. The firm has a market cap of $85.74 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77. Waste Management, Inc. has a fifty-two week low of $184.72 and a fifty-two week high of $230.39. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm posted $1.63 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts forecast that Waste Management, Inc. will post 7.3 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Friday, December 6th. Waste Management’s payout ratio is 45.87%.

Insider Buying and Selling at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

About Waste Management

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.