CIBC Asset Management Inc Acquires 3,366 Shares of Waste Management, Inc. (NYSE:WM)

CIBC Asset Management Inc grew its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,569 shares of the business services provider's stock after purchasing an additional 3,366 shares during the quarter. CIBC Asset Management Inc's holdings in Waste Management were worth $18,467,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Swedbank AB lifted its holdings in Waste Management by 67.2% during the 3rd quarter. Swedbank AB now owns 1,765,594 shares of the business services provider's stock worth $366,537,000 after purchasing an additional 709,678 shares in the last quarter. Stratos Wealth Advisors LLC lifted its holdings in shares of Waste Management by 32.2% in the third quarter. Stratos Wealth Advisors LLC now owns 1,781 shares of the business services provider's stock worth $370,000 after buying an additional 434 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Waste Management by 57.4% in the third quarter. Blue Trust Inc. now owns 5,567 shares of the business services provider's stock valued at $1,188,000 after acquiring an additional 2,031 shares during the period. Cyndeo Wealth Partners LLC grew its stake in Waste Management by 7.8% during the third quarter. Cyndeo Wealth Partners LLC now owns 2,567 shares of the business services provider's stock valued at $533,000 after acquiring an additional 185 shares in the last quarter. Finally, OLD National Bancorp IN increased its holdings in Waste Management by 14.0% during the 3rd quarter. OLD National Bancorp IN now owns 7,071 shares of the business services provider's stock worth $1,468,000 after acquiring an additional 868 shares during the period. Hedge funds and other institutional investors own 80.40% of the company's stock.

Insider Activity at Waste Management

In related news, SVP Tara J. Hemmer sold 4,576 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $222.12, for a total transaction of $1,016,421.12. Following the transaction, the senior vice president now owns 58,765 shares in the company, valued at $13,052,881.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Rafael Carrasco sold 4,000 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $225.89, for a total value of $903,560.00. Following the completion of the sale, the senior vice president now owns 18,531 shares of the company's stock, valued at approximately $4,185,967.59. This trade represents a 17.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,055 shares of company stock worth $3,578,340 in the last three months. 0.18% of the stock is owned by insiders.

Waste Management Trading Down 0.5 %

NYSE WM traded down $1.24 during trading on Friday, hitting $227.89. 1,709,065 shares of the company's stock traded hands, compared to its average volume of 1,665,810. The stock has a fifty day moving average of $213.43 and a two-hundred day moving average of $213.00. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $230.39. The firm has a market cap of $91.47 billion, a P/E ratio of 33.51, a PEG ratio of 2.71 and a beta of 0.78. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. As a group, sell-side analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.45%. This is an increase from Waste Management's previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 14th. Waste Management's payout ratio is presently 44.12%.

Wall Street Analyst Weigh In

Several brokerages have commented on WM. Jefferies Financial Group cut their price target on shares of Waste Management from $255.00 to $238.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Argus lifted their price objective on Waste Management from $230.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. William Blair restated an "outperform" rating on shares of Waste Management in a research note on Friday, January 31st. Citigroup lifted their price target on Waste Management from $242.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, StockNews.com cut shares of Waste Management from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Waste Management has a consensus rating of "Moderate Buy" and a consensus target price of $235.94.

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.