Waste Management, Inc. $WM Stock Holdings Lifted by Bank of Nova Scotia

Bank of Nova Scotia lifted its position in Waste Management, Inc. (NYSE:WM) by 145.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 496,242 shares of the business services provider’s stock after acquiring an additional 294,265 shares during the quarter. Bank of Nova Scotia’s holdings in Waste Management were worth $109,585,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. purchased a new position in Waste Management during the 3rd quarter valued at about $1,583,000. Lockheed Martin Investment Management Co. purchased a new stake in shares of Waste Management in the third quarter worth approximately $3,092,000. Guerra Advisors Inc boosted its holdings in shares of Waste Management by 59.5% during the third quarter. Guerra Advisors Inc now owns 9,037 shares of the business services provider’s stock worth $1,996,000 after purchasing an additional 3,371 shares during the period. Compass Wealth Management LLC boosted its holdings in shares of Waste Management by 537.0% during the third quarter. Compass Wealth Management LLC now owns 95,721 shares of the business services provider’s stock worth $21,138,000 after purchasing an additional 80,695 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Waste Management by 19.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,287 shares of the business services provider’s stock valued at $15,301,000 after purchasing an additional 11,135 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WM shares. Sanford C. Bernstein increased their target price on shares of Waste Management from $255.00 to $260.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. Barclays dropped their price target on shares of Waste Management from $266.00 to $265.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. JPMorgan Chase & Co. increased their price objective on Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, December 1st. Stifel Nicolaus lifted their price objective on Waste Management from $236.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, DZ Bank began coverage on Waste Management in a research report on Tuesday, November 25th. They issued a “buy” rating and a $250.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $253.55.

Insider Buying and Selling at Waste Management

In related news, VP Michael J. Watson sold 17,251 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $241.81, for a total value of $4,171,464.31. Following the transaction, the vice president directly owned 44,146 shares of the company’s stock, valued at approximately $10,674,944.26. This trade represents a 28.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rafael Carrasco sold 7,352 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $234.50, for a total value of $1,724,044.00. Following the completion of the sale, the senior vice president owned 15,540 shares of the company’s stock, valued at approximately $3,644,130. This trade represents a 32.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 98,042 shares of company stock worth $23,039,777 in the last 90 days. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Down 0.0%

Waste Management stock opened at $238.61 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The firm’s fifty day simple moving average is $229.82 and its 200-day simple moving average is $220.36. The company has a market capitalization of $96.24 billion, a P/E ratio of 35.61, a P/E/G ratio of 2.52 and a beta of 0.57.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.02). The business had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.39 billion. Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.70 earnings per share. Sell-side analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.945 per share. This is a boost from Waste Management’s previous quarterly dividend of $0.83. The ex-dividend date is Friday, March 13th. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. Waste Management’s dividend payout ratio is currently 49.25%.

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.