23,218 Shares in Waste Management, Inc. (NYSE:WM) Bought by Vancity Investment Management Ltd

Posted by Defense World Staff on Sep 9th, 2023

Vancity Investment Management Ltd acquired a new position in Waste Management, Inc. (NYSE:WM – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,218 shares of the business services provider’s stock, valued at approximately $3,788,000.

Other large investors have also recently bought and sold shares of the company. Ten Capital Wealth Advisors LLC raised its position in Waste Management by 1,106.7% in the first quarter. Ten Capital Wealth Advisors LLC now owns 181 shares of the business services provider’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Steward Financial Group LLC purchased a new position in shares of Waste Management in the fourth quarter valued at $31,000. State of Wyoming purchased a new position in shares of Waste Management in the fourth quarter valued at $34,000. Cutler Group LLC CA increased its position in shares of Waste Management by 482.8% in the first quarter. Cutler Group LLC CA now owns 222 shares of the business services provider’s stock valued at $36,000 after buying an additional 280 shares in the last quarter. Finally, Carmel Capital Partners LLC purchased a new position in shares of Waste Management in the first quarter valued at $38,000. Hedge funds and other institutional investors own 78.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Raymond James dropped their price target on Waste Management from $185.00 to $179.00 and set an “outperform” rating for the company in a research report on Thursday, July 27th. StockNews.com began coverage on Waste Management in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Citigroup decreased their price objective on Waste Management from $204.00 to $202.00 in a research note on Thursday, July 27th. Finally, BMO Capital Markets decreased their price objective on Waste Management from $167.00 to $166.00 in a research note on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average price target of $179.18.

Read Our Latest Stock Analysis on Waste Management

Waste Management Stock Down 0.3 %

Shares of NYSE:WM opened at $156.45 on Friday. The stock’s 50-day moving average price is $163.15 and its two-hundred day moving average price is $162.01. 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 $174.74. The firm has a market cap of $63.37 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.64 and a beta of 0.72.

Waste Management (NYSE:WM – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.03). Waste Management had a return on equity of 33.81% and a net margin of 11.42%. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same period in the previous year, the business posted $1.44 earnings per share. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. On average, research analysts forecast that Waste Management, Inc. will post 5.96 EPS for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, September 7th. Waste Management’s dividend payout ratio is currently 50.36%.

Insider Activity

In other news, Director Bruce E. Chinn sold 172 shares of Waste Management stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $159.44, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Bruce E. Chinn sold 172 shares of Waste Management stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $159.44, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John C. Pope sold 198 shares of Waste Management stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $168.40, for a total value of $33,343.20. Following the completion of the transaction, the director now directly owns 56,147 shares in the company, valued at $9,455,154.80. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

About Waste Management

(Free Report)

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.