Investment Management Corp of Ontario Reduces Position in Waste Management, Inc. (NYSE:WM)

Investment Management Corp of Ontario cut its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 10.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258,885 shares of the business services provider's stock after selling 29,369 shares during the quarter. Waste Management makes up about 1.7% of Investment Management Corp of Ontario's holdings, making the stock its 11th biggest holding. Investment Management Corp of Ontario owned 0.06% of Waste Management worth $52,240,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Investor s Fiduciary Advisor Network LLC purchased a new position in Waste Management in the 4th quarter worth about $756,000. KKM Financial LLC lifted its position in Waste Management by 4.5% during the fourth quarter. KKM Financial LLC now owns 14,340 shares of the business services provider's stock valued at $2,894,000 after purchasing an additional 618 shares during the period. Guardian Wealth Advisors LLC NC boosted its holdings in Waste Management by 3.5% in the fourth quarter. Guardian Wealth Advisors LLC NC now owns 3,629 shares of the business services provider's stock worth $732,000 after purchasing an additional 122 shares during the last quarter. Gotham Asset Management LLC grew its position in Waste Management by 72.6% in the 4th quarter. Gotham Asset Management LLC now owns 4,481 shares of the business services provider's stock worth $904,000 after purchasing an additional 1,885 shares during the period. Finally, Graham Capital Management L.P. purchased a new stake in Waste Management during the 4th quarter valued at $3,650,000. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

WM traded down $0.31 on Wednesday, hitting $222.07. 2,175,847 shares of the company's stock traded hands, compared to its average volume of 1,660,176. Waste Management, Inc. has a one year low of $196.59 and a one year high of $239.32. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. The firm has a market cap of $89.36 billion, a price-to-earnings ratio of 32.66, a P/E/G ratio of 2.71 and a beta of 0.67. The company's 50 day simple moving average is $228.22 and its 200-day simple moving average is $221.38.

Waste Management (NYSE:WM - Get Free Report) last released its earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping the consensus estimate of $1.59 by $0.08. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.14 billion. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.75 earnings per share. As a group, research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a $0.825 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.49%. Waste Management's dividend payout ratio is currently 49.77%.

Insider Activity at Waste Management

In related news, VP Michael J. Watson sold 5,732 shares of Waste Management stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $227.51, for a total value of $1,304,087.32. Following the completion of the transaction, the vice president now owns 55,587 shares in the company, valued at approximately $12,646,598.37. This trade represents a 9.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Johnson Varkey sold 124 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $234.96, for a total value of $29,135.04. Following the sale, the senior vice president now owns 8,491 shares in the company, valued at approximately $1,995,045.36. This trade represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,522 shares of company stock valued at $18,084,124. Insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. HSBC raised Waste Management from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $210.00 to $265.00 in a report on Friday, April 25th. Oppenheimer increased their price objective on shares of Waste Management from $231.00 to $237.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Raymond James boosted their target price on shares of Waste Management from $235.00 to $237.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Robert W. Baird increased their price target on shares of Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group reduced their price objective on Waste Management from $255.00 to $238.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $243.29.

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.