CIBC Asset Management Inc Acquires 3,309 Shares of Waste Management, Inc. (NYSE:WM)

CIBC Asset Management Inc raised its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,203 shares of the business services provider's stock after acquiring an additional 3,309 shares during the quarter. CIBC Asset Management Inc's holdings in Waste Management were worth $18,302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of WM. Thurston Springer Miller Herd & Titak Inc. bought a new position in Waste Management in the second quarter valued at $31,000. Fairway Wealth LLC boosted its stake in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider's stock worth $36,000 after buying an additional 66 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Waste Management during the 2nd quarter worth about $36,000. Fairscale Capital LLC acquired a new position in shares of Waste Management during the 2nd quarter worth about $39,000. Finally, Hexagon Capital Partners LLC raised its holdings in shares of Waste Management by 67.2% in the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider's stock valued at $42,000 after purchasing an additional 80 shares during the period. 80.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the company'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 $834,946.25. This represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.18% of the company's stock.

Waste Management Price Performance

Waste Management stock traded down $3.82 during mid-day trading on Friday, reaching $217.90. The company had a trading volume of 1,796,714 shares, compared to its average volume of 1,494,235. The company has a market cap of $87.46 billion, a P/E ratio of 33.32, a P/E/G ratio of 2.34 and a beta of 0.74. The business has a fifty day simple moving average of $211.61 and a 200 day simple moving average of $209.67. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a fifty-two week low of $168.73 and a fifty-two week high of $226.84.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the business earned $1.63 EPS. The business's quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Waste Management, Inc. will post 7.3 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.38%. Waste Management's dividend payout ratio (DPR) is presently 45.87%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Scotiabank assumed coverage on shares of Waste Management in a report on Friday, October 4th. They issued a "sector perform" rating and a $220.00 target price on the stock. UBS Group upped their target price on shares of Waste Management from $220.00 to $226.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. BMO Capital Markets upped their target price on shares of Waste Management from $213.00 to $220.00 and gave the company a "market perform" rating in a report on Wednesday, October 30th. Truist Financial upped their target price on shares of Waste Management from $235.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, William Blair initiated coverage on shares of Waste Management in a report on Thursday, October 3rd. They issued an "outperform" rating on the stock. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $226.11.

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.