Cidel Asset Management Inc. Purchases 68,641 Shares of Waste Management, Inc. $WM

Cidel Asset Management Inc. boosted its position in shares of Waste Management, Inc. (NYSE:WM) by 4,160.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 70,291 shares of the business services provider’s stock after acquiring an additional 68,641 shares during the quarter. Cidel Asset Management Inc.’s holdings in Waste Management were worth $16,152,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after acquiring an additional 2,320 shares during the period. Sprott Inc. purchased a new stake in Waste Management in the first quarter worth $325,000. Sei Investments Co. increased its stake in Waste Management by 8.0% in the second quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock worth $62,339,000 after purchasing an additional 20,122 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Waste Management by 68.2% during the second quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock valued at $83,843,000 after purchasing an additional 148,590 shares during the period. Finally, Glenview Trust co boosted its stake in shares of Waste Management by 5.1% during the second quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock valued at $764,000 after purchasing an additional 162 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WM has been the subject of a number of research analyst reports. Wolfe Research assumed coverage on shares of Waste Management in a report on Friday, March 13th. They set a “peer perform” rating for the company. Royal Bank Of Canada raised their target price on shares of Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Weiss Ratings downgraded shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. TD Cowen boosted their price target on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company reduced their price objective on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and a consensus price target of $255.30.

Waste Management Stock Up 2.7%

Shares of Waste Management stock opened at $219.04 on Wednesday. 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 stock has a market cap of $87.96 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 2.23 and a beta of 0.45. The firm’s 50-day moving average is $220.39 and its two-hundred day moving average is $224.75. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, topping 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 quarter in the prior year, the company earned $1.67 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. As a group, research analysts expect that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were given a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management’s payout ratio is presently 54.70%.

Waste Management Profile

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.