iA Global Asset Management Inc. Takes Position in Waste Management, Inc. $WM

iA Global Asset Management Inc. acquired a new stake in Waste Management, Inc. (NYSE:WM) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 140,000 shares of the business services provider’s stock, valued at approximately $32,171,000.

Several other hedge funds have also recently bought and sold shares of the stock. Elevated Capital Advisors LLC acquired a new position in shares of Waste Management in the fourth quarter valued at approximately $25,000. RHL Group LLC acquired a new stake in shares of Waste Management during the fourth quarter worth $29,000. Financial Network Wealth Advisors LLC raised its holdings in shares of Waste Management by 55.3% during the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock worth $29,000 after acquiring an additional 47 shares during the period. Mcguire Capital Advisors Inc. bought a new stake in Waste Management in the 4th quarter valued at $29,000. Finally, JPL Wealth Management LLC acquired a new position in Waste Management in the 3rd quarter worth $30,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank Of Canada lifted their price target on Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Weiss Ratings cut Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Wolfe Research initiated coverage on Waste Management in a report on Friday, March 13th. They set a “peer perform” rating for the company. Robert W. Baird lifted their target price on Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Finally, Wells Fargo & Company cut their target price on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.30.

Waste Management Stock Down 0.2%

Shares of WM stock opened at $222.81 on Wednesday. The firm’s fifty day moving average price is $220.16 and its two-hundred day moving average price is $225.19. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The firm has a market capitalization of $89.48 billion, a P/E ratio of 32.25, a PEG ratio of 2.34 and a beta of 0.45.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.67 EPS. On average, equities analysts predict that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, June 5th. Waste Management’s dividend payout ratio (DPR) is currently 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.