Connor Clark & Lunn Investment Management Ltd. lowered its stake in Waste Management, Inc. (NYSE:WM – Free Report) by 93.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,605 shares of the business services provider’s stock after selling 104,974 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Waste Management were worth $1,241,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. Aspire Private Capital LLC purchased a new position in Waste Management during the 1st quarter valued at about $16,153,830,000. Ten Capital Wealth Advisors LLC increased its holdings in Waste Management by 1,106.7% during the 1st quarter. Ten Capital Wealth Advisors LLC now owns 181 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 166 shares during the period. Steward Financial Group LLC purchased a new position in Waste Management during the 4th quarter valued at about $31,000. State of Wyoming purchased a new position in Waste Management during the 4th quarter valued at about $34,000. Finally, Cutler Group LLC CA grew its holdings in shares of Waste Management by 482.8% during the 1st quarter. Cutler Group LLC CA now owns 222 shares of the business services provider’s stock worth $36,000 after acquiring an additional 280 shares during the period. Hedge funds and other institutional investors own 78.91% of the company’s stock.
Insider Activity
In other news, Director Bruce E. Chinn sold 172 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $159.44, for a total transaction of $27,423.68. Following the transaction, the director now directly owns 822 shares of the company’s stock, valued at approximately $131,059.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John C. Pope sold 198 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $168.40, for a total value of $33,343.20. Following the transaction, the director now directly owns 56,147 shares of the company’s stock, valued at approximately $9,455,154.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bruce E. Chinn sold 172 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $159.44, for a total value of $27,423.68. Following the completion of the transaction, the director now directly owns 822 shares in the company, valued at $131,059.68. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Stock Report on Waste Management
Waste Management Stock Performance
Shares of WM opened at $158.13 on Wednesday. The business’s fifty day simple moving average is $165.55 and its two-hundred day simple moving average is $161.71. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 2.14. Waste Management, Inc. has a 12 month low of $148.31 and a 12 month high of $175.23. The company has a market cap of $64.05 billion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 2.69 and a beta of 0.71.
Waste Management (NYSE:WM – Get Free Report) last issued its earnings results on Tuesday, July 25th. The business services provider reported $1.51 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.03). Waste Management had a net margin of 11.42% and a return on equity of 33.81%. The business had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter in the prior year, the business posted $1.44 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Research analysts anticipate that Waste Management, Inc. will post 5.96 earnings per share for the current fiscal year.
Waste Management Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.80 annualized dividend and a dividend yield of 1.77%. Waste Management’s payout ratio is 50.36%.
About Waste Management
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.
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