CIBC Asset Management Inc Raises Stock Position in Waste Management, Inc. (NYSE:WM)

CIBC Asset Management Inc increased its position in Waste Management, Inc. (NYSE:WM) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,203 shares of the business services provider’s stock after purchasing an additional 3,309 shares during the quarter. CIBC Asset Management Inc’s holdings in Waste Management were worth $18,302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Twin Tree Management LP purchased a new stake in Waste Management during the first quarter worth $2,963,000. Nwam LLC boosted its position in Waste Management by 11.5% during the first quarter. Nwam LLC now owns 3,413 shares of the business services provider’s stock valued at $720,000 after purchasing an additional 352 shares in the last quarter. First Foundation Advisors grew its stake in Waste Management by 13.6% in the first quarter. First Foundation Advisors now owns 3,504 shares of the business services provider’s stock valued at $747,000 after purchasing an additional 419 shares during the last quarter. TIAA Trust National Association lifted its position in shares of Waste Management by 5.2% during the first quarter. TIAA Trust National Association now owns 19,675 shares of the business services provider’s stock valued at $4,194,000 after buying an additional 966 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Waste Management by 235.3% in the 1st quarter. Acadian Asset Management LLC now owns 353,526 shares of the business services provider’s stock valued at $75,341,000 after buying an additional 248,085 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WM shares. Argus increased their target price on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Oppenheimer boosted their target price on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Morgan Stanley increased their price target on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Truist Financial boosted their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.11.

Waste Management Trading Down 1.7 %

Shares of NYSE:WM opened at $217.89 on Friday. The company has a market capitalization of $87.45 billion, a PE ratio of 33.32, a PEG ratio of 2.38 and a beta of 0.74. Waste Management, Inc. has a 12-month low of $168.73 and a 12-month high of $226.84. The business has a 50 day moving average of $211.34 and a two-hundred day moving average of $209.63. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $1.63 earnings per share. As a group, analysts forecast that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.38%. Waste Management’s payout ratio is 45.87%.

Insiders Place Their Bets

In other news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares of the company’s stock, valued at $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by company insiders.

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.