National Bank of Canada FI Boosts Position in Waste Management, Inc. (NYSE:WM)

National Bank of Canada FI lifted its holdings in Waste Management, Inc. (NYSE:WM) by 138.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 718,546 shares of the business services provider’s stock after acquiring an additional 416,579 shares during the period. National Bank of Canada FI’s holdings in Waste Management were worth $149,168,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WM. Parnassus Investments LLC increased its holdings in Waste Management by 11.3% in the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after purchasing an additional 520,096 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Waste Management by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after buying an additional 12,664 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Waste Management by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after buying an additional 243,900 shares during the period. International Assets Investment Management LLC lifted its position in Waste Management by 94,414.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after acquiring an additional 2,588,842 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Waste Management by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock valued at $473,047,000 after acquiring an additional 221,380 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

WM has been the subject of several analyst reports. Royal Bank of Canada upped their target price on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. CIBC upped their price objective on shares of Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 1st. UBS Group raised their price objective on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Truist Financial upped their target price on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $229.33.

Waste Management Stock Down 0.8 %

NYSE:WM opened at $222.19 on Friday. The firm has a market capitalization of $89.18 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 2.38 and a beta of 0.75. Waste Management, Inc. has a 52 week low of $171.15 and a 52 week high of $230.39. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The stock has a 50 day moving average of $216.60 and a 200-day moving average of $211.09.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the company earned $1.63 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts predict that Waste Management, Inc. will post 7.31 EPS for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, December 6th. Waste Management’s payout ratio is 45.87%.

Insiders Place Their Bets

In other news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by 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.