Investment Management Corp of Ontario Raises Stock Position in Waste Management, Inc. $WM

Investment Management Corp of Ontario lifted its position in Waste Management, Inc. (NYSE:WM) by 6.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 203,302 shares of the business services provider’s stock after buying an additional 11,692 shares during the quarter. Waste Management comprises approximately 0.6% of Investment Management Corp of Ontario’s investment portfolio, making the stock its 23rd largest holding. Investment Management Corp of Ontario’s holdings in Waste Management were worth $44,667,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PBU The Pension Fund of Early Childhood & Youth Educators purchased a new stake in Waste Management during the 4th quarter worth approximately $10,206,000. Capital Advisors Inc. OK grew its position in Waste Management by 2.0% during the 4th quarter. Capital Advisors Inc. OK now owns 196,585 shares of the business services provider’s stock worth $43,192,000 after purchasing an additional 3,880 shares during the last quarter. Central Bank & Trust Co. grew its position in Waste Management by 333.1% during the 4th quarter. Central Bank & Trust Co. now owns 8,442 shares of the business services provider’s stock worth $1,855,000 after purchasing an additional 6,493 shares during the last quarter. Goodman Financial Corp purchased a new stake in Waste Management during the 4th quarter worth approximately $16,898,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Waste Management by 15.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 793,346 shares of the business services provider’s stock worth $173,774,000 after purchasing an additional 104,843 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

WM opened at $215.93 on Thursday. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a fifty day moving average price of $221.72 and a 200 day moving average price of $224.77. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The stock has a market cap of $86.71 billion, a P/E ratio of 31.25, a P/E/G ratio of 2.29 and a beta of 0.45.

Waste Management (NYSE:WM) last posted its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.06. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the previous year, the business posted $1.67 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be paid a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, June 5th. Waste Management’s payout ratio is currently 54.70%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WM. Wells Fargo & Company dropped their price objective on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Barclays upped their price objective on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. upped their price objective on shares of Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Wolfe Research began coverage on shares of Waste Management in a report on Friday, March 13th. They issued a “peer perform” rating on the stock. Finally, Royal Bank Of Canada upped their price objective on shares of Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Fifteen equities research analysts have rated the stock with a Buy rating and eight 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 price target of $255.30.

About Waste Management

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.