Waste Management, Inc. (NYSE:WM) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 45.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,676 shares of the business services provider's stock after selling 13,058 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Waste Management were worth $3,629,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after purchasing an additional 2,320 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in Waste Management by 14.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider's stock valued at $25,193,000 after purchasing an additional 15,974 shares in the last quarter. Cohen & Steers Inc. raised its position in Waste Management by 5.4% in the 4th quarter. Cohen & Steers Inc. now owns 2,047 shares of the business services provider's stock valued at $413,000 after purchasing an additional 104 shares in the last quarter. CreativeOne Wealth LLC raised its position in Waste Management by 99.9% in the 4th quarter. CreativeOne Wealth LLC now owns 3,226 shares of the business services provider's stock valued at $651,000 after purchasing an additional 1,612 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Waste Management in the 4th quarter valued at about $268,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WM. Hsbc Global Res raised Waste Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. UBS Group increased their price target on Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. CIBC increased their price objective on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Oppenheimer increased their price objective on Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, National Bank Financial upgraded Waste Management to a "hold" rating in a report on Monday, May 26th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $254.35.

Insider Activity at Waste Management

In other news, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the sale, the senior vice president directly owned 16,542 shares of the company's stock, valued at $3,917,311.02. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the sale, the chief financial officer directly owned 83,934 shares of the company's stock, valued at $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Waste Management Stock Performance

NYSE:WM traded up $0.65 during mid-day trading on Friday, reaching $226.80. 3,371,175 shares of the stock were exchanged, compared to its average volume of 1,657,967. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58. The company has a 50 day simple moving average of $230.00 and a 200-day simple moving average of $229.50. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The stock has a market capitalization of $91.36 billion, a P/E ratio of 33.65, a P/E/G ratio of 2.77 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%. The company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same period last year, the firm earned $1.82 EPS. The firm's revenue for the quarter was up 19.0% on a year-over-year basis. Analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

About Waste Management

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.