Signet Investment Advisory Group Inc. Has $4.12 Million Stock Position in Waste Management, Inc. (NYSE:WM)

Signet Investment Advisory Group Inc. raised its stake in Waste Management, Inc. (NYSE:WM) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,297 shares of the business services provider’s stock after buying an additional 273 shares during the period. Waste Management accounts for 2.2% of Signet Investment Advisory Group Inc.’s holdings, making the stock its 13th largest holding. Signet Investment Advisory Group Inc.’s holdings in Waste Management were worth $4,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in WM. Marietta Wealth Management LLC lifted its holdings in shares of Waste Management by 25.9% during the second quarter. Marietta Wealth Management LLC now owns 31,094 shares of the business services provider’s stock worth $6,634,000 after purchasing an additional 6,398 shares during the period. ARS Wealth Advisors Group LLC raised its stake in Waste Management by 3.1% during the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after buying an additional 47 shares during the last quarter. TCW Group Inc. raised its stake in Waste Management by 2.2% during the second quarter. TCW Group Inc. now owns 45,602 shares of the business services provider’s stock worth $9,729,000 after buying an additional 960 shares during the last quarter. Sumitomo Life Insurance Co. raised its stake in Waste Management by 18.0% during the second quarter. Sumitomo Life Insurance Co. now owns 35,362 shares of the business services provider’s stock worth $6,899,000 after buying an additional 5,403 shares during the last quarter. Finally, Stanley Laman Group Ltd. raised its stake in Waste Management by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 23,927 shares of the business services provider’s stock worth $5,105,000 after buying an additional 1,046 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Down 0.7 %

Waste Management stock traded down $1.51 during midday trading on Friday, hitting $205.40. 1,536,923 shares of the stock were exchanged, compared to its average volume of 1,709,305. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $225.00. The stock has a market capitalization of $82.43 billion, a price-to-earnings ratio of 33.62, a price-to-earnings-growth ratio of 2.31 and a beta of 0.74. The business’s 50-day moving average price is $208.93 and its 200-day moving average price is $207.06. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.82. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.51 earnings per share. On average, research analysts expect that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WM. BMO Capital Markets lowered their target price on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. Truist Financial decreased their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of Waste Management in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price target for the company. Robert W. Baird decreased their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, StockNews.com downgraded shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $215.83.

Insider Activity

In other news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the sale, the vice president now directly owns 45,644 shares in the company, valued at approximately $9,324,156.32. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Waste Management Profile

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.