BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stake in Waste Management, Inc. $WM

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in Waste Management, Inc. (NYSE:WM) by 4.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 301,894 shares of the business services provider’s stock after selling 13,460 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.07% of Waste Management worth $69,079,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. McAdam LLC lifted its stake in Waste Management by 3.1% in the 1st quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock worth $343,000 after purchasing an additional 44 shares in the last quarter. Syntegra Private Wealth Group LLC increased its holdings in shares of Waste Management by 2.0% in the second quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider’s stock worth $524,000 after purchasing an additional 44 shares during the last quarter. Harbour Trust & Investment Management Co increased its holdings in shares of Waste Management by 1.1% in the second quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider’s stock worth $943,000 after purchasing an additional 45 shares during the last quarter. KWB Wealth lifted its position in shares of Waste Management by 1.3% in the second quarter. KWB Wealth now owns 3,607 shares of the business services provider’s stock worth $835,000 after buying an additional 47 shares in the last quarter. Finally, D.B. Root & Company LLC boosted its stake in Waste Management by 3.0% during the second quarter. D.B. Root & Company LLC now owns 1,603 shares of the business services provider’s stock valued at $367,000 after buying an additional 47 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

WM stock opened at $215.49 on Friday. The stock has a market cap of $86.81 billion, a PE ratio of 33.94, a P/E/G ratio of 2.62 and a beta of 0.58. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $242.58. The company has a 50-day moving average price of $211.26 and a 200 day moving average price of $221.95. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 2.36.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). The firm had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.96 EPS. Equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a dividend of $0.825 per share. The ex-dividend date is Friday, December 5th. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. Waste Management’s payout ratio is presently 51.97%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WM. The Goldman Sachs Group assumed coverage on Waste Management in a report on Monday, November 24th. They set a “buy” rating and a $256.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on shares of Waste Management from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, December 1st. Scotiabank lowered their price objective on shares of Waste Management from $264.00 to $254.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Waste Management in a report on Monday. Finally, UBS Group lowered their price target on shares of Waste Management from $240.00 to $225.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $249.14.

Insider Buying and Selling

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the sale, the senior vice president owned 15,540 shares in the company, valued at $3,373,112.40. This trade represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

About Waste Management

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.