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

Cidel Asset Management Inc. boosted its holdings in Waste Management, Inc. (NYSE:WM) by 4,160.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 70,291 shares of the business services provider’s stock after buying an additional 68,641 shares during the period. Cidel Asset Management Inc.’s holdings in Waste Management were worth $16,152,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Elevated Capital Advisors LLC purchased a new position in Waste Management in the 4th quarter worth approximately $25,000. RHL Group LLC purchased a new stake in Waste Management during the 4th quarter valued at approximately $29,000. Financial Network Wealth Advisors LLC grew its holdings in Waste Management by 55.3% during the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after buying an additional 47 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new stake in shares of Waste Management during the fourth quarter valued at approximately $29,000. Finally, JPL Wealth Management LLC bought a new position in shares of Waste Management during the third quarter worth $30,000. Institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Weiss Ratings lowered Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Barclays lifted their target price on Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Royal Bank Of Canada boosted their target price on Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company cut their price target on Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.30.

Waste Management Stock Performance

Shares of NYSE:WM opened at $219.04 on Wednesday. The firm has a fifty day simple moving average of $220.39 and a two-hundred day simple moving average of $224.75. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The stock has a market capitalization of $87.96 billion, a P/E ratio of 31.70, a PEG ratio of 2.23 and a beta of 0.45.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $6.28 billion. During the same quarter last year, the firm earned $1.67 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were issued a $0.945 dividend. The ex-dividend date was Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. Waste Management’s payout ratio is 54.70%.

Waste Management Company 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.