Mackenzie Financial Corp Lowers Stock Position in Waste Management, Inc. (NYSE:WM)

Mackenzie Financial Corp lessened its stake in Waste Management, Inc. (NYSE:WM) by 13.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,342 shares of the business services provider’s stock after selling 19,341 shares during the period. Mackenzie Financial Corp’s holdings in Waste Management were worth $25,460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Ameriprise Financial Inc. raised its position in Waste Management by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after purchasing an additional 12,664 shares in the last quarter. Capital World Investors raised its holdings in shares of Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after buying an additional 1,303,466 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Waste Management by 11.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock worth $473,047,000 after buying an additional 221,380 shares during the last quarter. AMF Tjanstepension AB boosted its stake in Waste Management by 85.6% in the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock worth $333,234,000 after buying an additional 720,358 shares in the last quarter. Finally, Capital International Investors grew its position in Waste Management by 0.3% during the fourth quarter. Capital International Investors now owns 1,521,449 shares of the business services provider’s stock valued at $272,491,000 after acquiring an additional 5,103 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of NYSE WM opened at $205.51 on Friday. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $225.00. The company’s 50-day moving average is $207.07 and its 200 day moving average is $208.63. The stock has a market capitalization of $82.48 billion, a P/E ratio of 33.64, a P/E/G ratio of 2.32 and a beta of 0.74.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the prior year, the company earned $1.51 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio is presently 49.10%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WM shares. CIBC cut their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Royal Bank of Canada reduced their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets lowered their price objective on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $215.83.

Insider Buying and Selling

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

About Waste Management

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.