Cibc World Markets Corp Purchases 7,637 Shares of Waste Management, Inc. (NYSE:WM)

Cibc World Markets Corp grew its stake in shares of Waste Management, Inc. (NYSE:WM) by 14.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,276 shares of the business services provider’s stock after buying an additional 7,637 shares during the period. Cibc World Markets Corp’s holdings in Waste Management were worth $11,961,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WM. Addison Capital Co increased its position in shares of Waste Management by 3.3% during the 4th quarter. Addison Capital Co now owns 5,910 shares of the business services provider’s stock valued at $1,193,000 after purchasing an additional 188 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of Waste Management by 15.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,536 shares of the business services provider’s stock worth $310,000 after buying an additional 201 shares during the period. IMG Wealth Management Inc. purchased a new stake in shares of Waste Management in the 4th quarter worth $109,000. SlateStone Wealth LLC lifted its holdings in shares of Waste Management by 4.2% in the 4th quarter. SlateStone Wealth LLC now owns 2,399 shares of the business services provider’s stock worth $484,000 after buying an additional 96 shares during the period. Finally, First National Advisers LLC lifted its stake in shares of Waste Management by 3.3% during the 4th quarter. First National Advisers LLC now owns 20,202 shares of the business services provider’s stock worth $4,076,000 after purchasing an additional 640 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Trading Up 1.4 %

NYSE:WM opened at $228.02 on Tuesday. The firm has a market cap of $91.69 billion, a PE ratio of 33.53, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75. The stock has a fifty day moving average price of $221.05 and a 200 day moving average price of $215.47. Waste Management, Inc. has a 12-month low of $196.59 and a 12-month high of $235.81. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. Sell-side analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.825 per share. This is a boost from Waste Management’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Friday, March 14th. Waste Management’s dividend payout ratio is currently 48.53%.

Analysts Set New Price Targets

Several brokerages recently issued reports on WM. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a research report on Friday, January 31st. Jefferies Financial Group cut their price objective on Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. CIBC upped their target price on Waste Management from $227.00 to $247.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Raymond James upped their target price on Waste Management from $235.00 to $237.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, Citigroup increased their price target on Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $236.65.

Insider Transactions at Waste Management

In other Waste Management news, VP Donald J. Smith sold 191 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.22, for a total value of $42,062.02. Following the transaction, the vice president now directly owns 6,129 shares in the company, valued at $1,349,728.38. This represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Charles C. Boettcher sold 693 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.59, for a total transaction of $152,868.87. Following the completion of the transaction, the executive vice president now owns 45,542 shares in the company, valued at $10,046,109.78. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,577 shares of company stock valued at $21,662,464. 0.18% of the stock is currently owned by corporate insiders.

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.