Scotia Capital Inc. Boosts Stake in Waste Management, Inc. (NYSE:WM)

Scotia Capital Inc. increased its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644,530 shares of the business services provider's stock after purchasing an additional 41,182 shares during the quarter. Scotia Capital Inc. owned approximately 0.16% of Waste Management worth $130,070,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Checchi Capital Advisers LLC increased its position in shares of Waste Management by 0.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,768 shares of the business services provider's stock valued at $1,366,000 after acquiring an additional 45 shares during the period. Catalyst Financial Partners LLC grew its stake in shares of Waste Management by 2.4% in the fourth quarter. Catalyst Financial Partners LLC now owns 2,039 shares of the business services provider's stock worth $411,000 after purchasing an additional 48 shares during the last quarter. Maia Wealth LLC increased its holdings in Waste Management by 4.1% during the 4th quarter. Maia Wealth LLC now owns 1,213 shares of the business services provider's stock valued at $259,000 after purchasing an additional 48 shares during the period. EverSource Wealth Advisors LLC raised its position in Waste Management by 1.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,091 shares of the business services provider's stock valued at $624,000 after purchasing an additional 49 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Waste Management by 0.6% in the 4th quarter. Signaturefd LLC now owns 8,511 shares of the business services provider's stock worth $1,717,000 after buying an additional 49 shares during the period. Institutional investors own 80.40% of the company's stock.

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Insider Activity

In other news, EVP Charles C. Boettcher sold 693 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $220.59, for a total value of $152,868.87. Following the transaction, the executive vice president now directly owns 45,542 shares in the company, valued at $10,046,109.78. This trade represents a 1.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Tara J. Hemmer sold 4,576 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $222.12, for a total value of $1,016,421.12. Following the sale, the senior vice president now owns 58,765 shares of the company's stock, valued at approximately $13,052,881.80. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,577 shares of company stock valued at $21,662,464 in the last 90 days. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WM. UBS Group upped their target price on Waste Management from $230.00 to $240.00 and gave the company a "neutral" rating in a report on Friday. Jefferies Financial Group decreased their price objective 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. Scotiabank boosted their price target on shares of Waste Management from $255.00 to $260.00 and gave the company a "sector outperform" rating in a research report on Tuesday, April 8th. CIBC raised their price objective on shares of Waste Management from $227.00 to $247.00 and gave the stock a "neutral" rating in a report on Wednesday, March 5th. Finally, Raymond James upped their target price on Waste Management from $235.00 to $237.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Nine 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, the stock has a consensus rating of "Moderate Buy" and an average target price of $237.76.

Waste Management Stock Down 0.2 %

Waste Management stock traded down $0.35 during trading hours on Tuesday, hitting $231.95. The stock had a trading volume of 337,458 shares, compared to its average volume of 1,633,077. The stock's 50-day moving average price is $227.48 and its 200-day moving average price is $218.47. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $239.32. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. The stock has a market capitalization of $93.32 billion, a P/E ratio of 34.11, a price-to-earnings-growth ratio of 2.71 and a beta of 0.66.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) 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 37.93%. Equities research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.825 dividend. This is a positive change from Waste Management's previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 14th. This represents a $3.30 dividend on an annualized basis and a yield of 1.42%. Waste Management's payout ratio is 48.53%.

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.