CANADA LIFE ASSURANCE Co Has $64.17 Million Holdings in Waste Management, Inc. (NYSE:WM)

CANADA LIFE ASSURANCE Co increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 20.5% in the first quarter, Holdings Channel reports. The firm owned 300,871 shares of the business services provider’s stock after buying an additional 51,121 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Waste Management were worth $64,173,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Hexagon Capital Partners LLC grew its stake in shares of Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after purchasing an additional 75 shares during the period. Sachetta LLC bought a new position in Waste Management during the fourth quarter worth about $27,000. Gilfoyle & Co LLC bought a new position in Waste Management during the fourth quarter worth about $30,000. Opal Wealth Advisors LLC bought a new position in Waste Management during the first quarter worth about $35,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in Waste Management during the fourth quarter worth about $36,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Waste Management from $211.00 to $215.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft began coverage on Waste Management in a report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 target price on the stock. Truist Financial cut their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Erste Group Bank restated a “hold” rating on shares of Waste Management in a report on Friday, June 14th. Finally, StockNews.com upgraded Waste Management from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 9th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $217.39.

Waste Management Stock Down 0.6 %

Shares of NYSE:WM traded down $1.42 during midday trading on Wednesday, reaching $217.31. The company had a trading volume of 1,358,352 shares, compared to its average volume of 1,688,759. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. The business’s 50 day moving average price is $210.02 and its 200 day moving average price is $204.57. The stock has a market cap of $87.16 billion, a PE ratio of 35.57, a P/E/G ratio of 2.59 and a beta of 0.74. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. The firm had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.31 earnings per share. Research analysts forecast that Waste Management, Inc. will post 7.32 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 1.38%. Waste Management’s dividend payout ratio is 49.10%.

Insider Buying and Selling at Waste Management

In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the sale, the vice president now owns 45,644 shares in the company, valued at $9,324,156.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the sale, the vice president now owns 45,644 shares in the company, valued at $9,324,156.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value 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 disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

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.