Waste Management, Inc. (NYSE:WM) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its holdings in Waste Management, Inc. (NYSE:WM) by 31.5% during the first quarter, Holdings Channel reports. The institutional investor owned 122,035 shares of the business services provider’s stock after buying an additional 29,261 shares during the period. Mackenzie Financial Corp’s holdings in Waste Management were worth $28,252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WM. Corton Capital Inc. acquired a new stake in Waste Management during the first quarter worth about $222,000. Horan Capital Advisors LLC. grew its stake in Waste Management by 5.3% during the first quarter. Horan Capital Advisors LLC. now owns 2,021 shares of the business services provider’s stock worth $468,000 after buying an additional 102 shares during the period. Sterling Investment Advisors Ltd. raised its stake in shares of Waste Management by 11.1% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,760 shares of the business services provider’s stock valued at $407,000 after acquiring an additional 176 shares during the period. RWC Asset Management LLP raised its position in Waste Management by 12.4% in the first quarter. RWC Asset Management LLP now owns 39,888 shares of the business services provider’s stock valued at $9,234,000 after purchasing an additional 4,413 shares during the period. Finally, Semus Wealth Partners LLC purchased a new stake in shares of Waste Management in the first quarter worth about $221,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Melius initiated coverage on Waste Management in a research report on Monday, June 9th. They set a “buy” rating on the stock. Hsbc Global Res raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Wall Street Zen raised shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. UBS Group lifted their target price on Waste Management from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Finally, Oppenheimer upped their target price on Waste Management from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $252.41.

Waste Management Price Performance

Shares of WM opened at $235.65 on Wednesday. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.83 and a quick ratio of 0.79. The company has a market cap of $94.83 billion, a P/E ratio of 34.96, a PEG ratio of 2.82 and a beta of 0.64. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The stock has a fifty day moving average price of $231.77 and a 200 day moving average price of $227.79.

Waste Management (NYSE:WM) last posted its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 35.31%. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the business posted $1.82 EPS. Waste Management’s revenue was up 19.0% on a year-over-year basis. On average, research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Friday, June 6th. Waste Management’s payout ratio is currently 48.96%.

Insider Buying and Selling at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction 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. This trade represents a 40.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the sale, the senior vice president owned 16,542 shares in the company, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

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.