BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stake in Waste Management, Inc. (NYSE:WM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in Waste Management, Inc. (NYSE:WM) by 4.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,915 shares of the business services provider’s stock after selling 10,001 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Waste Management were worth $41,087,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WM. International Assets Investment Management LLC lifted its holdings in shares of Waste Management by 94,414.4% in 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 in the last quarter. Wulff Hansen & CO. increased its stake in Waste Management by 20,402.6% in the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after purchasing an additional 863,846 shares during the period. AMF Tjanstepension AB raised its holdings in Waste Management by 85.6% during the 2nd quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after buying an additional 720,358 shares during the last quarter. Swedbank AB boosted its holdings in shares of Waste Management by 67.2% during the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after purchasing an additional 709,678 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in shares of Waste Management by 248.5% during the second quarter. Los Angeles Capital Management LLC now owns 984,774 shares of the business services provider’s stock valued at $210,092,000 after buying an additional 702,188 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Down 0.1 %

NYSE WM opened at $228.22 on Friday. The stock has a market cap of $91.60 billion, a PE ratio of 34.90, a P/E/G ratio of 2.40 and a beta of 0.74. 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, Inc. has a 12 month low of $168.73 and a 12 month high of $230.39. The stock’s 50 day moving average is $215.17 and its 200 day moving average is $210.69.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. Waste Management’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.63 EPS. Research analysts predict that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio is presently 45.87%.

Analyst Ratings Changes

WM has been the subject of a number of research reports. Scotiabank assumed coverage on shares of Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target for the company. Royal Bank of Canada increased their price target on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. UBS Group lifted their price objective on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. CIBC raised their price target on Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer upped their target price on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Ten research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $228.94.

Insider Buying and Selling at Waste Management

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 value 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. This trade 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. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Company 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.