AGF Management Ltd. Has $112.87 Million Stake in Waste Management, Inc. (NYSE:WM)

AGF Management Ltd. grew its stake in Waste Management, Inc. (NYSE:WM) by 9.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 559,341 shares of the business services provider’s stock after acquiring an additional 49,742 shares during the period. AGF Management Ltd.’s holdings in Waste Management were worth $112,869,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WM. Raymond James Financial Inc. acquired a new stake in Waste Management in the fourth quarter worth $340,611,000. Swedbank AB lifted its holdings in Waste Management by 67.2% during the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after acquiring an additional 709,678 shares in the last quarter. Parnassus Investments LLC grew its stake in Waste Management by 11.3% in the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after acquiring an additional 520,096 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of Waste Management by 32.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,801,842 shares of the business services provider’s stock worth $374,062,000 after purchasing an additional 437,613 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of Waste Management by 138.0% during the 3rd quarter. National Bank of Canada FI now owns 718,546 shares of the business services provider’s stock valued at $149,168,000 after purchasing an additional 416,579 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Insider Activity

In other Waste Management news, SVP Tara J. Hemmer sold 4,576 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $222.12, for a total transaction of $1,016,421.12. Following the sale, the senior vice president now owns 58,765 shares in the company, valued at approximately $13,052,881.80. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Johnson Varkey sold 560 shares of Waste Management stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.11, for a total transaction of $123,261.60. Following the sale, the senior vice president now owns 9,152 shares in the company, valued at approximately $2,014,446.72. The trade was a 5.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,577 shares of company stock valued at $21,662,464 in the last quarter. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on WM shares. Oppenheimer raised their target price on shares of Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Scotiabank boosted their price target on Waste Management from $250.00 to $255.00 and gave the company a “sector outperform” rating in a report on Monday, February 3rd. William Blair reissued an “outperform” rating on shares of Waste Management in a research report on Friday, January 31st. CIBC boosted their price target on shares of Waste Management from $227.00 to $247.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 5th. Finally, StockNews.com downgraded Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.65.

Waste Management Price Performance

Shares of NYSE:WM opened at $227.72 on Tuesday. The company has a market capitalization of $91.57 billion, a PE ratio of 33.49, a PEG ratio of 2.71 and a beta of 0.75. The business has a fifty day moving average price of $218.73 and a 200-day moving average price of $214.94. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $235.81. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. As a group, equities analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.30 annualized dividend and a dividend yield of 1.45%. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s dividend payout ratio is presently 48.53%.

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.