TD Asset Management Inc Has $62.93 Million Holdings in Waste Management, Inc. (NYSE:WM)

Key Points

• TD Asset Management Inc increased its holdings in Waste Management, Inc. by 17.0% during the 1st quarter, owning a total of 271,832 shares worth approximately $62.9 million.
• Institutional investors currently own 80.40% of Waste Management's stock with significant stake increases from companies like GAMMA Investing LLC and Capital Research Global Investors.
• Waste Management reported a net margin of 11.67% with $1.67 earnings per share for the quarter, surpassing analyst expectations, despite a revenue decrease compared to the prior year's quarter.

TD Asset Management Inc lifted its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 17.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 271,832 shares of the business services provider's stock after purchasing an additional 39,458 shares during the period. TD Asset Management Inc owned 0.07% of Waste Management worth $62,932,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in WM. Westend Capital Management LLC grew its position in Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after buying an additional 66 shares in the last quarter. Transce3nd LLC acquired a new stake in Waste Management during the fourth quarter worth about $28,000. West Branch Capital LLC grew its position in Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after buying an additional 49 shares in the last quarter. Hurley Capital LLC acquired a new stake in Waste Management during the fourth quarter valued at approximately $34,000. Finally, Adalta Capital Management LLC acquired a new stake in Waste Management during the fourth quarter valued at approximately $40,000. 80.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction dated 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 transaction, the senior vice president owned 16,542 shares in the company, valued at $3,917,311.02. This trade represents a 3.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer owned 83,934 shares of the company's stock, valued at $19,922,574.24. The trade was a 40.82% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 price objective on the stock in a report on Monday, June 9th. Robert W. Baird lifted their price objective on Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Raymond James Financial lifted their price objective on Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a report on Wednesday, June 25th. Finally, Citigroup lifted their price objective on Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $252.41.

Waste Management Trading Down 0.7%

NYSE:WM traded down $1.53 during trading hours on Monday, hitting $228.14. 1,715,875 shares of the stock were exchanged, compared to its average volume of 1,493,025. The company's 50 day moving average is $231.74 and its two-hundred day moving average is $227.73. Waste Management, Inc. has a twelve month low of $197.43 and a twelve month high of $242.58. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.65. The company has a market capitalization of $91.80 billion, a P/E ratio of 34.41, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.03. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The business's revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.82 EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Friday, June 6th. Waste Management's dividend payout ratio is currently 49.77%.

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.