Investment Management Corp of Ontario Purchases 11,692 Shares of Waste Management, Inc. $WM

Investment Management Corp of Ontario lifted its position in Waste Management, Inc. (NYSE:WM) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 203,302 shares of the business services provider’s stock after acquiring an additional 11,692 shares during the quarter. Waste Management accounts for 0.6% of Investment Management Corp of Ontario’s portfolio, making the stock its 23rd largest position. Investment Management Corp of Ontario owned about 0.05% of Waste Management worth $44,667,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WM. Elevated Capital Advisors LLC bought a new stake in Waste Management during the 4th quarter valued at about $25,000. RHL Group LLC bought a new stake in Waste Management during the 4th quarter valued at about $29,000. Financial Network Wealth Advisors LLC lifted 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. JPL Wealth Management LLC bought a new stake in Waste Management during the 3rd quarter valued at about $30,000. Finally, Kelleher Financial Advisors bought a new stake in Waste Management during the 4th quarter valued at about $31,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Trading Down 1.2%

NYSE:WM opened at $215.93 on Thursday. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a market cap of $86.71 billion, a P/E ratio of 31.25, a P/E/G ratio of 2.29 and a beta of 0.45. The firm has a 50-day simple moving average of $221.72 and a 200-day simple moving average of $224.77.

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

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be given a $0.945 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.8%. Waste Management’s payout ratio is presently 54.70%.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective 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 shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Wells Fargo & Company cut their target price on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. TD Cowen boosted their price target on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Barclays boosted their price target on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.30.

Waste Management 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.