Bank of Montreal Can Purchases 48,653 Shares of Waste Management, Inc. (NYSE:WM)

Bank of Montreal Can grew its holdings in Waste Management, Inc. (NYSE:WM) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,704,170 shares of the business services provider’s stock after purchasing an additional 48,653 shares during the quarter. Bank of Montreal Can owned about 0.42% of Waste Management worth $350,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Waste Management by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 532,819 shares of the business services provider’s stock valued at $113,571,000 after acquiring an additional 18,429 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Waste Management during the 1st quarter worth about $894,000. Sweeney & Michel LLC bought a new stake in Waste Management in the 1st quarter valued at about $210,000. Dynasty Wealth Management LLC bought a new position in Waste Management in the first quarter worth approximately $1,298,000. Finally, Vancity Investment Management Ltd grew its stake in Waste Management by 3.8% in the first quarter. Vancity Investment Management Ltd now owns 58,319 shares of the business services provider’s stock valued at $12,430,000 after acquiring an additional 2,145 shares during the period. Institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

In related news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on WM shares. BMO Capital Markets lifted their price target on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their target price on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial boosted their price objective on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group raised their target price on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Argus upped their price target on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $226.11.

Waste Management Stock Performance

Shares of NYSE:WM traded up $1.59 during mid-day trading on Monday, reaching $226.00. The company had a trading volume of 132,319 shares, compared to its average volume of 1,604,690. Waste Management, Inc. has a one year low of $168.73 and a one year high of $226.84. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The company’s 50-day moving average price is $212.84 and its 200-day moving average price is $210.10. The firm has a market cap of $90.71 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 2.36 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is currently 45.87%.

Waste Management 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.