Cibc World Market Inc. Has $50.86 Million Stock Position in Waste Management, Inc. (NYSE:WM)

Cibc World Market Inc. raised its holdings in Waste Management, Inc. (NYSE:WM) by 10.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 252,022 shares of the business services provider’s stock after acquiring an additional 23,512 shares during the quarter. Cibc World Market Inc.’s holdings in Waste Management were worth $50,856,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in Waste Management by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock valued at $1,686,203,000 after acquiring an additional 168,818 shares during the period. Parnassus Investments LLC boosted its stake in shares of Waste Management by 11.3% in the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after purchasing an additional 520,096 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Waste Management by 7.1% in the 4th quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after purchasing an additional 280,455 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after purchasing an additional 2,588,842 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Waste Management by 12.8% in the 3rd quarter. Barclays PLC now owns 2,433,408 shares of the business services provider’s stock valued at $505,175,000 after purchasing an additional 276,287 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of Waste Management stock opened at $222.57 on Friday. The company has a market cap of $89.33 billion, a PE ratio of 32.73, a price-to-earnings-growth ratio of 2.20 and a beta of 0.77. Waste Management, Inc. has a 52 week low of $184.72 and a 52 week high of $230.39. The business has a 50 day moving average price of $212.26 and a 200-day moving average price of $211.28. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. Equities analysts anticipate that Waste Management, Inc. will post 7.99 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Friday, December 6th. Waste Management’s payout ratio is 44.12%.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. William Blair assumed coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Oppenheimer upped their price objective on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Morgan Stanley upped their price objective on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Truist Financial raised their price target on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, CIBC lifted their price target on shares of Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $231.39.

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.