Connor Clark & Lunn Investment Management Ltd. Has $32.13 Million Position in Waste Management, Inc. (NYSE:WM)
Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Waste Management, Inc. (NYSE:WM – Get Rating) by 400.1{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,555 shares of the business services provider’s stock after purchasing an additional 160,450 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Waste Management were worth $32,131,000 at the end of the most recent quarter.
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A number of other hedge funds also recently modified their holdings of WM. Acadian Asset Management LLC raised its position in shares of Waste Management by 534.5{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} during the first quarter. Acadian Asset Management LLC now owns 3,344 shares of the business services provider’s stock worth $530,000 after purchasing an additional 2,817 shares during the period. Blair William & Co. IL grew its holdings in shares of Waste Management by 0.7{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} during the first quarter. Blair William & Co. IL now owns 53,067 shares of the business services provider’s stock worth $8,411,000 after buying an additional 370 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of Waste Management by 0.6{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} during the first quarter. Baird Financial Group Inc. now owns 358,624 shares of the business services provider’s stock worth $56,842,000 after buying an additional 2,309 shares in the last quarter. Covestor Ltd grew its holdings in shares of Waste Management by 83.8{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} during the first quarter. Covestor Ltd now owns 680 shares of the business services provider’s stock worth $108,000 after buying an additional 310 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Waste Management by 44.8{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} during the first quarter. NewEdge Advisors LLC now owns 33,030 shares of the business services provider’s stock worth $5,234,000 after buying an additional 10,212 shares in the last quarter. Institutional investors and hedge funds own 78.48{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of the company’s stock.
Analyst Ratings Changes
WM has been the subject of a number of research reports. BMO Capital Markets decreased their price objective on Waste Management from $167.00 to $158.00 and set a “market perform” rating for the company in a report on Thursday, February 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Waste Management from $157.00 to $151.00 and set a “hold” rating for the company in a report on Monday, February 6th. Oppenheimer decreased their price target on Waste Management to $169.00 in a research note on Thursday, October 20th. UBS Group downgraded Waste Management from a “buy” rating to a “neutral” rating and decreased their price target for the company from $190.00 to $165.00 in a research note on Tuesday, January 10th. Finally, Jefferies Financial Group upgraded Waste Management from a “hold” rating to a “buy” rating and raised their price target for the company from $170.00 to $191.00 in a research note on Tuesday, October 25th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Waste Management currently has an average rating of “Hold” and a consensus target price of $168.00.
Insider Activity at Waste Management
In related news, Director John C. Pope sold 218 shares of the business’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $154.76, for a total value of $33,737.68. Following the completion of the sale, the director now directly owns 55,809 shares in the company, valued at approximately $8,637,000.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of the stock is currently owned by corporate insiders.
Waste Management Stock Performance
Shares of NYSE WM traded up $1.79 during midday trading on Friday, hitting $154.07. 1,721,869 shares of the company’s stock were exchanged, compared to its average volume of 1,755,956. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.12. Waste Management, Inc. has a 12 month low of $138.58 and a 12 month high of $175.98. The company’s 50 day moving average price is $157.01 and its 200 day moving average price is $162.26. The firm has a market capitalization of $62.88 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 2.30 and a beta of 0.72.
Waste Management (NYSE:WM – Get Rating) last issued its earnings results on Wednesday, February 1st. The business services provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.09). Waste Management had a return on equity of 32.91{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} and a net margin of 11.36{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}. The business had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The business’s revenue was up 5.5{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} compared to the same quarter last year. As a group, analysts predict that Waste Management, Inc. will post 6.09 earnings per share for the current fiscal year.
Waste Management Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be paid a $0.70 dividend. The ex-dividend date is Thursday, March 9th. This is an increase from Waste Management’s previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a yield of 1.82{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}. Waste Management’s payout ratio is 48.24{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.
Waste Management announced that its board has initiated a stock buyback plan on Thursday, December 8th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the business services provider to purchase up to 2.2{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Waste Management Profile
Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: Tier 1, Tier 2, and Tier 3. The Tier 1 segment consists of areas in the Southern United States. The Tier 2 segment consists of areas located in the Midwest and Northeast United States.
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