Cidel Asset Management Inc. Grows Stock Position in Waste Management, Inc. $WM

Cidel Asset Management Inc. lifted its position in Waste Management, Inc. (NYSE:WM) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,689 shares of the business services provider’s stock after acquiring an additional 4,398 shares during the period. Cidel Asset Management Inc.’s holdings in Waste Management were worth $16,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC boosted its stake in Waste Management by 55.3% during the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock worth $29,000 after purchasing an additional 47 shares during the last quarter. RHL Group LLC purchased a new stake in shares of Waste Management during the fourth quarter worth $29,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Waste Management in the fourth quarter valued at about $29,000. JPL Wealth Management LLC purchased a new position in shares of Waste Management in the third quarter worth about $30,000. Finally, Main Street Group LTD acquired a new position in Waste Management during the first quarter worth about $31,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of Waste Management from $270.00 to $277.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Citigroup boosted their target price on Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a report on Friday, July 10th. UBS Group upped their price target on Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Oppenheimer cut their price target on Waste Management from $264.00 to $263.00 and set an “outperform” rating for the company in a report on Wednesday, July 8th. Finally, Canadian Imperial Bank of Commerce downgraded Waste Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $258.89.

Waste Management Stock Performance

NYSE:WM opened at $217.76 on Wednesday. The company’s 50-day moving average is $228.29 and its two-hundred day moving average is $226.90. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.91 and a quick ratio of 0.87. The firm has a market capitalization of $87.04 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 2.76 and a beta of 0.42.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, beating the consensus estimate of $1.98 by $0.04. The business had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.92 EPS. Analysts forecast that Waste Management, Inc. will post 8.13 EPS for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid a $0.945 dividend. 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, September 11th. Waste Management’s payout ratio is 53.54%.

Insider Activity at Waste Management

In related news, CAO John Carroll sold 1,365 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $219.90, for a total transaction of $300,163.50. Following the completion of the transaction, the chief accounting officer owned 3,509 shares of the company’s stock, valued at approximately $771,629.10. This trade represents a 28.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management Company Profile

WM, Inc, formerly known as Waste Management, Inc, is an environmental services company that provides waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, helping manage everyday refuse as well as certain specialized waste streams.

Its operations include curbside and commercial waste collection, transfer stations, recycling facilities, landfills and waste-related energy services. WM also develops renewable natural gas and electricity projects that capture landfill gas for use as an energy source.