CIBC Private Wealth Group LLC lessened its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 9.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,697 shares of the business services provider's stock after selling 6,821 shares during the period. CIBC Private Wealth Group LLC's holdings in Waste Management were worth $12,952,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CreativeOne Wealth LLC grew its position in Waste Management by 18.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 1,614 shares of the business services provider's stock valued at $335,000 after buying an additional 249 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Waste Management by 21.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 11,235 shares of the business services provider's stock worth $2,332,000 after acquiring an additional 2,000 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Waste Management by 54.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 83,599 shares of the business services provider's stock valued at $17,355,000 after acquiring an additional 29,315 shares in the last quarter. Erste Asset Management GmbH purchased a new position in Waste Management during the third quarter worth about $16,245,000. Finally, FSA Wealth Management LLC acquired a new stake in Waste Management in the third quarter valued at about $64,000. 80.40% of the stock is owned by hedge funds and other institutional investors.
Waste Management Trading Down 4.0 %
Shares of NYSE:WM traded down $9.48 during midday trading on Friday, reaching $227.35. The company's stock had a trading volume of 2,680,599 shares, compared to its average volume of 1,625,638. The firm has a market cap of $91.42 billion, a price-to-earnings ratio of 33.36, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75. The business has a 50 day moving average price of $226.39 and a 200 day moving average price of $217.24. Waste Management, Inc. has a 1 year low of $196.59 and a 1 year 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.
Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. Research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.
Waste Management Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Waste Management's previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a dividend yield of 1.45%. Waste Management's payout ratio is currently 48.53%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on WM. CIBC boosted their target price on Waste Management from $227.00 to $247.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 5th. Raymond James increased their price objective on Waste Management from $235.00 to $237.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Morgan Stanley boosted their target price on shares of Waste Management from $227.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Oppenheimer increased their price target on shares of Waste Management from $231.00 to $237.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Finally, Jefferies Financial Group decreased their price objective on shares of Waste Management from $255.00 to $238.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. Nine investment 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's stock. According to data from MarketBeat, Waste Management has a consensus rating of "Moderate Buy" and a consensus target price of $236.65.
View Our Latest Research Report on WM
Insider Transactions at Waste Management
In other Waste Management news, CEO James C. Fish, Jr. sold 44,405 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $228.43, for a total transaction of $10,143,434.15. Following the transaction, the chief executive officer now owns 211,061 shares in the company, valued at $48,212,664.23. The trade was a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO John A. Carroll sold 1,251 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $225.92, for a total value of $282,625.92. Following the transaction, the chief accounting officer now directly owns 8,420 shares in the company, valued at $1,902,246.40. This trade represents a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,577 shares of company stock worth $21,662,464 in the last ninety days. Insiders own 0.18% of the company's stock.
About Waste Management
(
Free Report)
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.
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