City Holding Co. bought a new stake in shares of Waste Management, Inc. (NYSE:WM) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 36,676 shares of the business services provider’s stock, valued at approximately $2,983,000.

Several other institutional investors have also made changes to their positions in the company. Nomura Holdings Inc. increased its holdings in Waste Management by 154.8% in the 2nd quarter. Nomura Holdings Inc. now owns 288,324 shares of the business services provider’s stock worth $23,452,000 after acquiring an additional 175,187 shares during the last quarter. Andra AP fonden purchased a new stake in Waste Management in the 2nd quarter worth about $6,930,000. Schroder Investment Management Group increased its holdings in Waste Management by 97.0% in the 2nd quarter. Schroder Investment Management Group now owns 210,343 shares of the business services provider’s stock worth $16,990,000 after acquiring an additional 103,546 shares during the last quarter. Bank of Nova Scotia increased its holdings in Waste Management by 11.3% in the 2nd quarter. Bank of Nova Scotia now owns 291,111 shares of the business services provider’s stock worth $23,679,000 after acquiring an additional 29,538 shares during the last quarter. Finally, Verition Fund Management LLC increased its holdings in Waste Management by 81.5% in the 2nd quarter. Verition Fund Management LLC now owns 39,772 shares of the business services provider’s stock worth $3,235,000 after acquiring an additional 17,864 shares during the last quarter. 74.62% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on the company. BMO Capital Markets reissued a “buy” rating and issued a $93.00 price objective on shares of Waste Management in a report on Thursday, July 26th. Zacks Investment Research lowered Waste Management from a “hold” rating to a “sell” rating in a report on Saturday, June 30th. Finally, ValuEngine raised Waste Management from a “hold” rating to a “buy” rating in a report on Saturday, July 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $91.22.

Shares of NYSE WM opened at $92.11 on Tuesday. Waste Management, Inc. has a 52 week low of $75.86 and a 52 week high of $92.67. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $39.33 billion, a price-to-earnings ratio of 28.61, a P/E/G ratio of 1.89 and a beta of 0.70.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 25th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. Waste Management had a return on equity of 27.38% and a net margin of 14.94%. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter last year, the company earned $0.81 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. equities analysts forecast that Waste Management, Inc. will post 4.08 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be paid a $0.465 dividend. The ex-dividend date is Thursday, September 6th. This represents a $1.86 annualized dividend and a yield of 2.02%. Waste Management’s dividend payout ratio is currently 57.76%.

In other Waste Management news, Director Patrick W. Gross sold 406 shares of the firm’s stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $83.22, for a total value of $33,787.32. Following the completion of the transaction, the director now owns 24,149 shares in the company, valued at approximately $2,009,679.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is owned by company insiders.

About Waste Management

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.

Further Reading: Understanding Average Daily Trade Volume

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM).

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

Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.