TD Asset Management Inc Purchases 38,638 Shares of Waste Management, Inc. (NYSE:WM)

TD Asset Management Inc grew its position in shares of Waste Management, Inc. (NYSE:WM) by 23.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 204,780 shares of the business services provider’s stock after acquiring an additional 38,638 shares during the quarter. TD Asset Management Inc’s holdings in Waste Management were worth $43,688,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WM. Mattern Capital Management LLC boosted its holdings in Waste Management by 33.5% during the second quarter. Mattern Capital Management LLC now owns 2,074 shares of the business services provider’s stock worth $442,000 after purchasing an additional 520 shares during the last quarter. Larson Financial Group LLC lifted its position in Waste Management by 47.6% during the 2nd quarter. Larson Financial Group LLC now owns 1,812 shares of the business services provider’s stock worth $387,000 after buying an additional 584 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of Waste Management by 36.0% during the 2nd quarter. Foundations Investment Advisors LLC now owns 2,196 shares of the business services provider’s stock worth $469,000 after buying an additional 581 shares during the last quarter. Simon Quick Advisors LLC bought a new position in shares of Waste Management in the 2nd quarter valued at about $219,000. Finally, Archer Investment Corp increased its position in shares of Waste Management by 1,204.8% in the second quarter. Archer Investment Corp now owns 1,083 shares of the business services provider’s stock valued at $231,000 after acquiring an additional 1,000 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

WM has been the subject of a number of analyst reports. Oppenheimer decreased their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of 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 shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Finally, BMO Capital Markets cut their target price 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. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average price target of $215.83.

Waste Management Stock Down 1.8 %

WM opened at $204.74 on Friday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The stock has a fifty day moving average of $209.43 and a 200-day moving average of $208.68. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00. The company has a market capitalization of $82.12 billion, a P/E ratio of 33.51, a P/E/G ratio of 2.34 and a beta of 0.74.

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

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.47%. Waste Management’s dividend payout ratio is presently 49.10%.

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.