Connor Clark & Lunn Investment Management Ltd. Acquires 39,714 Shares of Waste Management, Inc. (NYSE:WM)

Connor Clark & Lunn Investment Management Ltd. grew its position in Waste Management, Inc. (NYSE:WM - Free Report) by 79.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 89,647 shares of the business services provider's stock after purchasing an additional 39,714 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Waste Management were worth $18,611,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Waste Management from a "strong-buy" rating to a "buy" rating in a report on Friday, November 15th. The Goldman Sachs Group raised Waste Management to a "strong-buy" rating in a research note on Friday, July 26th. Morgan Stanley boosted their price objective on Waste Management from $214.00 to $227.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Scotiabank began coverage on shares of Waste Management in a research note on Friday, October 4th. They set a "sector perform" rating and a $220.00 price target for the company. Finally, Argus boosted their target price on shares of Waste Management from $230.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Waste Management presently has an average rating of "Moderate Buy" and a consensus target price of $226.11.

Insider Activity at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by insiders.

Waste Management Price Performance

WM stock traded up $0.28 during midday trading on Thursday, reaching $219.06. The company had a trading volume of 143,627 shares, compared to its average volume of 1,604,443. The firm has a 50-day moving average price of $212.24 and a 200-day moving average price of $209.92. The company has a market capitalization of $87.92 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a 1 year low of $168.73 and a 1 year high of $226.84. 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 released its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business had revenue of $5.61 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter in the prior year, the firm earned $1.63 earnings per share. The firm's revenue was up 7.9% on a year-over-year basis. On average, research analysts anticipate that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid 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 1.37%. Waste Management's dividend payout ratio (DPR) is 45.87%.

Waste Management Company 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.