National Bank of Canada FI Raises Stock Holdings in Waste Management, Inc. (NYSE:WM)

National Bank of Canada FI boosted its position in Waste Management, Inc. (NYSE:WM) by 4.4% in the second quarter, HoldingsChannel.com reports. The firm owned 301,967 shares of the business services provider’s stock after acquiring an additional 12,596 shares during the period. National Bank of Canada FI’s holdings in Waste Management were worth $63,170,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hexagon Capital Partners LLC raised its stake in shares of Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares in the last quarter. Sachetta LLC purchased a new position in Waste Management in the fourth quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Waste Management during the second quarter worth $31,000. Opal Wealth Advisors LLC purchased a new stake in shares of Waste Management during the 1st quarter valued at $35,000. Finally, DSM Capital Partners LLC acquired a new stake in shares of Waste Management in the 4th quarter worth $38,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the transaction, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by corporate insiders.

Waste Management Trading Down 0.4 %

Waste Management stock opened at $208.40 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The firm has a market cap of $83.64 billion, a PE ratio of 34.11, a P/E/G ratio of 2.37 and a beta of 0.74. The stock’s 50 day simple moving average is $209.60 and its two-hundred day simple moving average is $208.66. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the firm posted $1.51 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. Analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. Waste Management’s dividend payout ratio is currently 49.10%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WM. Robert W. Baird decreased their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Waste Management in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $241.00 price objective for the company. Erste Group Bank reissued a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Truist Financial cut their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, BMO Capital Markets dropped their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.83.

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.