iA Global Asset Management Inc. Sells 59,472 Shares of Waste Management, Inc. (NYSE:WM)

iA Global Asset Management Inc. decreased its position in Waste Management, Inc. (NYSE:WM) by 86.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,003 shares of the business services provider’s stock after selling 59,472 shares during the quarter. iA Global Asset Management Inc.’s holdings in Waste Management were worth $1,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of WM. Parnassus Investments LLC grew its position in Waste Management by 11.3% in 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 acquiring an additional 520,096 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Waste Management by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after purchasing an additional 12,664 shares during the last quarter. Legal & General Group Plc lifted its position in Waste Management by 6.8% in the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after buying an additional 243,900 shares during the last quarter. International Assets Investment Management LLC boosted its stake in 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 buying an additional 2,588,842 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Waste Management by 11.1% during 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 during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Argus lifted their price target on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com upgraded Waste Management from a “buy” rating to a “strong-buy” rating in a report on Monday. JPMorgan Chase & Co. increased their target price on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. William Blair began coverage on shares of Waste Management in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, Scotiabank began coverage on Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price for the company. Ten investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $229.33.

Insiders Place Their Bets

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’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 of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by insiders.

Waste Management Trading Down 0.8 %

Shares of NYSE:WM opened at $222.19 on Monday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The firm has a market capitalization of $89.18 billion, a P/E ratio of 33.97, a P/E/G ratio of 2.34 and a beta of 0.75. The business’s 50-day moving average is $216.94 and its 200 day moving average is $211.22. Waste Management, Inc. has a 1 year low of $171.15 and a 1 year high of $230.39.

Waste Management (NYSE:WM) last announced its quarterly earnings data 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. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the firm posted $1.63 EPS. Waste Management’s revenue was up 7.9% on a year-over-year basis. On average, research analysts predict that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

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

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.