Intact Investment Management Inc. Invests $4.09 Million in Waste Management, Inc. (WM) Stock

Intact Investment Management Inc. purchased a new position in Waste Management, Inc. (NYSE:WM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 45,300 shares of the business services provider’s stock, valued at approximately $4,093,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WM. Kiley Juergens Wealth Management LLC purchased a new stake in shares of Waste Management during the second quarter valued at $100,000. Point72 Hong Kong Ltd grew its holdings in shares of Waste Management by 1,095.4% during the second quarter. Point72 Hong Kong Ltd now owns 1,303 shares of the business services provider’s stock valued at $106,000 after buying an additional 1,194 shares during the last quarter. Braun Bostich & Associates Inc. grew its holdings in shares of Waste Management by 546.0% during the second quarter. Braun Bostich & Associates Inc. now owns 1,447 shares of the business services provider’s stock valued at $118,000 after buying an additional 1,223 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Waste Management by 15.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 112,038 shares of the business services provider’s stock valued at $128,000 after buying an additional 14,720 shares during the last quarter. Finally, Vigilant Capital Management LLC grew its holdings in shares of Waste Management by 200.0% during the third quarter. Vigilant Capital Management LLC now owns 1,500 shares of the business services provider’s stock valued at $136,000 after buying an additional 1,000 shares during the last quarter. 74.87% of the stock is currently owned by institutional investors and hedge funds.

WM has been the topic of a number of research analyst reports. UBS Group set a $90.00 price objective on shares of Waste Management and gave the company a “hold” rating in a report on Friday. BMO Capital Markets reiterated a “buy” rating and issued a $93.00 price objective on shares of Waste Management in a research report on Thursday, July 26th. Raymond James reiterated a “buy” rating on shares of Waste Management in a research report on Monday. Oppenheimer reissued a “buy” rating and set a $95.00 target price on shares of Waste Management in a research note on Thursday, October 25th. Finally, Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research note on Friday, October 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Waste Management has an average rating of “Buy” and a consensus target price of $94.71.

WM stock opened at $86.41 on Tuesday. The stock has a market cap of $36.21 billion, a PE ratio of 26.84, a P/E/G ratio of 1.72 and a beta of 0.70. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.87 and a quick ratio of 0.84. Waste Management, Inc. has a 52 week low of $78.33 and a 52 week high of $92.85.

Waste Management (NYSE:WM) last released its earnings results on Thursday, October 25th. The business services provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.04. The business had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Waste Management had a net margin of 15.60% and a return on equity of 27.93%. As a group, equities analysts anticipate that Waste Management, Inc. will post 4.14 EPS for the current fiscal year.

Waste Management Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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