Waste Management, Inc. (NYSE:WM) Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia increased its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 131.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 283,341 shares of the business services provider's stock after purchasing an additional 161,130 shares during the period. Bank of Nova Scotia owned 0.07% of Waste Management worth $57,188,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global Wealth Strategies & Associates boosted its holdings in shares of Waste Management by 892.9% during the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider's stock worth $28,000 after acquiring an additional 125 shares during the period. General Partner Inc. bought a new position in Waste Management in the 4th quarter valued at about $29,000. Halbert Hargrove Global Advisors LLC acquired a new position in Waste Management during the fourth quarter valued at approximately $33,000. Hurley Capital LLC acquired a new position in shares of Waste Management during the 4th quarter worth $34,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Waste Management in the fourth quarter worth about $35,000. Institutional investors own 80.40% of the company's stock.

Waste Management Price Performance

Shares of Waste Management stock traded up $2.15 on Monday, hitting $231.53. 243,431 shares of the company traded hands, compared to its average volume of 1,634,018. The business has a 50-day simple moving average of $227.33 and a 200 day simple moving average of $218.28. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $239.32. The stock has a market capitalization of $93.15 billion, a P/E ratio of 34.05, a price-to-earnings-growth ratio of 2.71 and a beta of 0.66. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.85 and a current ratio of 0.76.

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Waste Management (NYSE:WM - Get Free Report) last announced its earnings results 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 return on equity of 37.93% and a net margin of 12.45%. Research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The firm 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 was Friday, March 14th. This is an increase from Waste Management's previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.43%. Waste Management's dividend payout ratio (DPR) is currently 48.53%.

Insider Activity at Waste Management

In other news, CAO John A. Carroll sold 209 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $220.55, for a total transaction of $46,094.95. Following the sale, the chief accounting officer now directly owns 9,066 shares of the company's stock, valued at $1,999,506.30. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles C. Boettcher sold 693 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.59, for a total transaction of $152,868.87. Following the transaction, the executive vice president now directly owns 45,542 shares of the company's stock, valued at $10,046,109.78. This represents a 1.50 % decrease in their ownership of the stock. 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 over the last ninety days. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Raymond James boosted their price target on Waste Management from $235.00 to $237.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Scotiabank upped 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. Oppenheimer lifted their price target on shares of Waste Management from $231.00 to $237.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Morgan Stanley raised their target price on Waste Management from $227.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Finally, William Blair reiterated an "outperform" rating on shares of Waste Management in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.76.

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.