Cibc World Market Inc. Acquires 23,512 Shares of Waste Management, Inc. (NYSE:WM)

Cibc World Market Inc. raised its holdings in Waste Management, Inc. (NYSE:WM) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 252,022 shares of the business services provider’s stock after acquiring an additional 23,512 shares during the quarter. Cibc World Market Inc. owned about 0.06% of Waste Management worth $50,856,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Waste Management by 2.1% during the third quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock worth $1,686,203,000 after purchasing an additional 168,818 shares in the last quarter. Parnassus Investments LLC boosted its position in shares of Waste Management by 11.3% during the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after purchasing an additional 520,096 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Waste Management by 7.1% during the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock worth $854,446,000 after purchasing an additional 280,455 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Waste Management by 94,414.4% during the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after purchasing an additional 2,588,842 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Waste Management by 12.8% during the third quarter. Barclays PLC now owns 2,433,408 shares of the business services provider’s stock worth $505,175,000 after acquiring an additional 276,287 shares during the period. 80.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group raised their price objective on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Argus raised their price objective on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets lifted their price target on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, Scotiabank upgraded shares of Waste Management from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $225.00 to $250.00 in a research note on Monday. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and a consensus price target of $231.39.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

NYSE WM opened at $222.57 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $89.33 billion, a P/E ratio of 32.73, a P/E/G ratio of 2.20 and a beta of 0.77. Waste Management, Inc. has a 12-month low of $184.72 and a 12-month high of $230.39. The firm has a 50-day moving average price of $212.26 and a two-hundred day moving average price of $211.28.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, January 29th. The business services provider reported $1.70 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 38.88%. Analysts anticipate that Waste Management, Inc. will post 7.99 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s payout ratio is presently 44.12%.

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.