Advisors Asset Management Inc. lowered its position in Waste Management, Inc. (NYSE:WM) by 28.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,901 shares of the business services provider’s stock after selling 7,129 shares during the period. Advisors Asset Management Inc.’s holdings in Waste Management were worth $1,313,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WM. Shine Investment Advisory Services Inc. bought a new stake in Waste Management during the second quarter worth approximately $101,000. Northwest Investment Counselors LLC bought a new stake in Waste Management during the second quarter worth approximately $103,000. Guardian Life Insurance Co. of America increased its stake in Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after buying an additional 14 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Waste Management by 25.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the business services provider’s stock worth $124,000 after buying an additional 340 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new stake in Waste Management during the first quarter worth approximately $127,000. 75.53% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management, Inc. (NYSE WM) opened at 75.89 on Monday. The firm has a market cap of $33.39 billion, a PE ratio of 25.99 and a beta of 0.71. The firm’s 50-day moving average is $75.11 and its 200-day moving average is $73.30. Waste Management, Inc. has a 12 month low of $61.08 and a 12 month high of $76.33.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 EPS. Equities analysts expect that Waste Management, Inc. will post $3.19 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.70 annualized dividend and a dividend yield of 2.24%. Waste Management’s payout ratio is currently 58.42%.

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A number of analysts recently commented on WM shares. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a report on Tuesday, May 16th. Stifel Nicolaus boosted their price objective on shares of Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $76.10.

In other news, Director Patrick W. Gross sold 487 shares of the business’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total transaction of $36,369.16. Following the completion of the transaction, the director now directly owns 23,222 shares in the company, valued at approximately $1,734,218.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James C. Fish, Jr. sold 3,500 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $72.19, for a total value of $252,665.00. Following the transaction, the chief executive officer now owns 151,162 shares of the company’s stock, valued at $10,912,384.78. The disclosure for this sale can be found here. Insiders have sold a total of 4,440 shares of company stock valued at $322,728 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.

About Waste Management

Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.

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

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