Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Waste Management, Inc. (NYSE:WM) by 14.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 101,936 shares of the business services provider’s stock after purchasing an additional 13,001 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Waste Management were worth $14,282,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in WM. Twin Lakes Capital Management LLC purchased a new stake in Waste Management during the first quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. purchased a new position in Waste Management during the 2nd quarter worth $25,000. KB Financial Partners LLC bought a new stake in Waste Management during the 1st quarter valued at $26,000. Princeton Global Asset Management LLC bought a new stake in Waste Management during the 1st quarter valued at $32,000. Finally, Godsey & Gibb Associates boosted its position in Waste Management by 58.0% during the 2nd quarter. Godsey & Gibb Associates now owns 237 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 87 shares in the last quarter. 74.10% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the company. Oppenheimer raised their target price on Waste Management from $146.00 to $152.00 and gave the stock an “outperform” rating in a research note on Friday, July 16th. Morgan Stanley lifted their price objective on Waste Management from $133.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 13th. BMO Capital Markets lifted their price objective on Waste Management from $153.00 to $159.00 and gave the company an “outperform” rating in a research note on Wednesday, July 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on Waste Management from $138.00 to $152.00 and gave the company a “hold” rating in a research note on Thursday, July 29th. Finally, Raymond James reiterated an “outperform” rating and set a $146.70 price objective (down previously from $147.00) on shares of Waste Management in a research note on Monday, July 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $139.97.
Waste Management stock opened at $154.19 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 1.75. The stock’s fifty day simple moving average is $151.08 and its 200-day simple moving average is $141.39. The firm has a market capitalization of $64.93 billion, a P/E ratio of 40.90, a P/E/G ratio of 2.50 and a beta of 0.81. Waste Management, Inc. has a twelve month low of $106.11 and a twelve month high of $156.74.
Waste Management (NYSE:WM) last announced its earnings results on Tuesday, July 27th. The business services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.09. Waste Management had a net margin of 9.69% and a return on equity of 26.32%. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter in the prior year, the firm earned $0.88 earnings per share. The business’s quarterly revenue was up 25.7% compared to the same quarter last year. Sell-side analysts predict that Waste Management, Inc. will post 4.92 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Stockholders of record on Friday, September 3rd were paid a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, September 2nd. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.49%. Waste Management’s dividend payout ratio (DPR) is 57.07%.
About Waste Management
Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: Tier 1, Tier 2 and Tier 3. The Tier 1 segment comprises of areas in the Southern United States. The Tier 2 segment comprises of areas located in the Midwest and Northeast United States.
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