Cardinal Point Capital Management ULC Invests $451,000 in Waste Management, Inc. (NYSE:WM)

Cardinal Point Capital Management ULC purchased a new stake in shares of Waste Management, Inc. (NYSE:WM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,172 shares of the business services provider’s stock, valued at approximately $451,000.

Other hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in Waste Management by 0.3% during the 2nd 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 during the last quarter. Capital World Investors raised its holdings in Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after acquiring an additional 1,303,466 shares during the period. Legal & General Group Plc raised its holdings in Waste Management by 6.8% during the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after acquiring an additional 243,900 shares during the period. Dimensional Fund Advisors LP raised its holdings in Waste Management by 11.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock valued at $473,047,000 after acquiring an additional 221,380 shares during the period. Finally, AMF Tjanstepension AB increased its holdings in shares of 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 purchasing an additional 720,358 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 $205.41 on Tuesday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. Waste Management, Inc. has a one year low of $153.95 and a one year high of $225.00. The company has a market capitalization of $82.39 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 2.32 and a beta of 0.74. The stock has a fifty day moving average of $206.74 and a 200-day moving average of $208.50.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting the consensus estimate of $1.82. The business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. Waste Management’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 EPS. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.75 per share. 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 currently 49.10%.

Insider Buying and Selling

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $9,711,680. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on WM. StockNews.com upgraded Waste Management from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 1st. BMO Capital Markets reduced their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. William Blair started coverage on Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Finally, CIBC dropped their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Twelve analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $218.89.

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.