CI Investments Inc. increased its holdings in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 21.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 58,154 shares of the business services provider’s stock after purchasing an additional 10,178 shares during the period. CI Investments Inc.’s holdings in Waste Management were worth $13,363,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Broadway Wealth Solutions Inc. lifted its holdings in Waste Management by 2.8% during the 4th quarter. Broadway Wealth Solutions Inc. now owns 1,588 shares of the business services provider’s stock valued at $349,000 after purchasing an additional 44 shares during the last quarter. Bey Douglas LLC raised its position in shares of Waste Management by 3.7% in the fourth quarter. Bey Douglas LLC now owns 1,233 shares of the business services provider’s stock valued at $271,000 after purchasing an additional 44 shares during the period. San Luis Wealth Advisors LLC raised its position in shares of Waste Management by 2.4% in the fourth quarter. San Luis Wealth Advisors LLC now owns 1,922 shares of the business services provider’s stock valued at $422,000 after purchasing an additional 45 shares during the period. Birch Hill Investment Advisors LLC lifted its stake in shares of Waste Management by 0.7% during the 4th quarter. Birch Hill Investment Advisors LLC now owns 6,104 shares of the business services provider’s stock worth $1,341,000 after buying an additional 45 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC boosted its holdings in shares of Waste Management by 1.9% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 2,398 shares of the business services provider’s stock worth $527,000 after buying an additional 45 shares during the period. Institutional investors own 80.40% of the company’s stock.
Wall Street Analysts Forecast Growth
WM has been the topic of several research analyst reports. Barclays increased their price target on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce raised Waste Management from a “hold” rating to an “outperformer” rating and set a $244.00 target price on the stock in a research report on Tuesday, July 7th. Citigroup increased their target price on Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Wells Fargo & Company decreased their price objective on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Finally, Robert W. Baird increased their price objective on Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Fifteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $256.74.
Waste Management Trading Up 1.5%
Shares of NYSE:WM opened at $236.69 on Thursday. The business’s 50 day simple moving average is $223.42 and its 200 day simple moving average is $226.86. The company has a market capitalization of $95.05 billion, a P/E ratio of 34.25, a P/E/G ratio of 2.84 and a beta of 0.44. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13.
Waste Management (NYSE:WM – Get Free Report) last released its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.67 earnings per share. On average, research analysts anticipate that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.
Waste Management Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, June 5th. Waste Management’s payout ratio is currently 54.70%.
Key Waste Management News
Here are the key news stories impacting Waste Management this week:
- Positive Sentiment: A Seeking Alpha piece highlighted Waste Management as a defensive name with a positive outlook, suggesting investors may still view WM as a stable anchor in uncertain markets. Waste Management: Positive Outlook As Defensive Anchor Remains
- Neutral Sentiment: Analysts said WM’s earnings are expected to grow, but also noted the stock may not have the setup for a clear earnings beat, which keeps expectations balanced ahead of the next report. Waste Management (WM) Earnings Expected to Grow: Should You Buy?
- Neutral Sentiment: Another earnings preview from Zacks struck a similar tone, saying investors should be prepared for growth but not necessarily a strong upside surprise. Waste Management (WM) Earnings Expected to Grow: Should You Buy?
- Negative Sentiment: WM fell as the broader market moved higher, indicating some near-term profit-taking or relative weakness versus the market. Waste Management (WM) Stock Sinks As Market Gains: What You Should Know
- Negative Sentiment: A local report said Waste Management will end service in a Centre County township, which could slightly weigh on sentiment even if the business impact is limited. Waste Management to end service in a Centre County township
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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