Waste Management, Inc. $WM Shares Acquired by Cibc World Market Inc.

Key Points

• CIBC World Market Inc. increased its stake in Waste Management by 11.5% in the fourth quarter, bringing its holdings to 234,306 shares valued at about $51.5 million.
• Insider selling was reported, including COO John J. Morris selling 4,211 shares and SVP Johnson Varkey selling 121 shares; insiders now own just 0.18% of the company.
• Waste Management reported better-than-expected earnings of $1.81 per share, and analysts remain broadly positive, with the stock carrying a Moderate Buy rating and an average price target of $255.67.

Cibc World Market Inc. boosted its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,306 shares of the business services provider's stock after acquiring an additional 24,254 shares during the period. Cibc World Market Inc. owned 0.06% of Waste Management worth $51,479,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in WM. Elevated Capital Advisors LLC bought a new position in shares of Waste Management during the fourth quarter worth about $25,000. Cornerstone Planning Group LLC raised its stake in Waste Management by 101.5% during the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider's stock valued at $29,000 after buying an additional 67 shares in the last quarter. RHL Group LLC bought a new position in Waste Management during the 4th quarter worth approximately $29,000. JPL Wealth Management LLC bought a new position in Waste Management during the 3rd quarter worth approximately $30,000. Finally, Kelleher Financial Advisors acquired a new position in shares of Waste Management in the 4th quarter worth approximately $31,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Waste Management

In other news, COO John J. Morris sold 4,211 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $243.38, for a total value of $1,024,873.18. Following the completion of the transaction, the chief operating officer owned 99,929 shares of the company's stock, valued at approximately $24,320,720.02. This represents a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Johnson Varkey sold 121 shares of Waste Management stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $245.27, for a total transaction of $29,677.67. Following the sale, the senior vice president owned 9,293 shares in the company, valued at approximately $2,279,294.11. This represents a 1.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 4,515 shares of company stock valued at $1,099,450. Insiders own 0.18% of the company's stock.

Waste Management Stock Performance

WM stock opened at $219.45 on Friday. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The stock has a market capitalization of $88.13 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 2.28 and a beta of 0.45. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. The stock's fifty day moving average is $223.70 and its two-hundred day moving average is $224.49.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 EPS. On average, research analysts predict that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th. Waste Management's payout ratio is 54.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Waste Management from $265.00 to $270.00 and gave the company an "overweight" rating in a research report on Friday, April 10th. Wells Fargo & Company lowered their target price on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Barclays raised their price target on shares of Waste Management from $266.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Robert W. Baird boosted their price objective on shares of Waste Management from $248.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, April 16th. Finally, TD Cowen increased their price objective on shares of Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Waste Management presently has an average rating of "Moderate Buy" and an average price target of $255.67.

About Waste Management

Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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