Mackenzie Financial Corp Has $42.71 Million Holdings in Waste Management, Inc. $WM

Mackenzie Financial Corp increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 76.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,416 shares of the business services provider’s stock after buying an additional 83,882 shares during the quarter. Mackenzie Financial Corp’s holdings in Waste Management were worth $42,712,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of WM. Brentview Investment Management LLC grew its holdings in shares of Waste Management by 5.0% in the 3rd quarter. Brentview Investment Management LLC now owns 22,754 shares of the business services provider’s stock worth $5,025,000 after purchasing an additional 1,083 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Waste Management by 13.1% during the 3rd quarter. Van ECK Associates Corp now owns 64,977 shares of the business services provider’s stock valued at $14,349,000 after purchasing an additional 7,513 shares during the last quarter. Capital Research Global Investors boosted its position in Waste Management by 23.4% in the third quarter. Capital Research Global Investors now owns 2,024,824 shares of the business services provider’s stock valued at $447,142,000 after buying an additional 384,155 shares in the last quarter. Capital International Inc. CA bought a new stake in Waste Management during the third quarter worth about $3,385,000. Finally, Capital International Investors increased its holdings in shares of Waste Management by 218.3% during the third quarter. Capital International Investors now owns 1,369,805 shares of the business services provider’s stock worth $302,494,000 after buying an additional 939,455 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Performance

Shares of Waste Management stock opened at $238.94 on Friday. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $229.41 and a 200 day simple moving average of $220.29. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The firm has a market cap of $96.38 billion, a P/E ratio of 35.66, a P/E/G ratio of 2.50 and a beta of 0.57.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.02). The firm had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.39 billion. Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.70 EPS. Sell-side analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. This is a boost from Waste Management’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, March 13th. Waste Management’s payout ratio is currently 49.25%.

Insiders Place Their Bets

In related news, VP Donald J. Smith sold 12,194 shares of Waste Management stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.48, for a total value of $2,847,055.12. Following the completion of the sale, the vice president directly owned 6,024 shares in the company, valued at $1,406,483.52. This trade represents a 66.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rafael Carrasco sold 7,352 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $234.50, for a total value of $1,724,044.00. Following the sale, the senior vice president directly owned 15,540 shares of the company’s stock, valued at $3,644,130. This represents a 32.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 98,042 shares of company stock valued at $23,039,777 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Waste Management in a research note on Monday, November 24th. They issued a “buy” rating and a $256.00 target price for the company. Oppenheimer raised their price target on Waste Management from $263.00 to $264.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Morgan Stanley cut their price objective on Waste Management from $232.00 to $230.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Barclays decreased their target price on Waste Management from $266.00 to $265.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. Finally, Sanford C. Bernstein raised their target price on Waste Management from $255.00 to $260.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $253.55.

About Waste Management

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.