Waste Management, Inc. (NYSE:WM) Stock Position Raised by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Waste Management, Inc. (NYSE:WM) by 79.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 89,647 shares of the business services provider’s stock after acquiring an additional 39,714 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Waste Management were worth $18,611,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Trium Capital LLP grew its holdings in shares of Waste Management by 33.6% during the 3rd quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock valued at $2,498,000 after acquiring an additional 3,029 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of Waste Management by 77.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock valued at $2,553,000 after buying an additional 5,367 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in Waste Management by 417.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock valued at $720,000 after acquiring an additional 2,800 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Waste Management by 32.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,801,842 shares of the business services provider’s stock worth $374,062,000 after purchasing an additional 437,613 shares during the last quarter. Finally, Swedbank AB raised its holdings in shares of Waste Management by 67.2% during the 3rd quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock valued at $366,537,000 after purchasing an additional 709,678 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of analyst reports. Truist Financial boosted their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. William Blair initiated coverage on shares of Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. BMO Capital Markets raised their target price on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average price target of $226.11.

Insider Buying and Selling

In related news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by insiders.

Waste Management Stock Performance

Shares of Waste Management stock opened at $218.78 on Thursday. The firm has a market cap of $87.81 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.30 and a beta of 0.74. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $212.24 and a 200 day simple moving average of $209.92. Waste Management, Inc. has a fifty-two week low of $168.73 and a fifty-two week high of $226.84.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $1.63 earnings per share. Sell-side analysts predict that Waste Management, Inc. will post 7.32 earnings per share 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 $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

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.