Waste Management, Inc. (NYSE:WM) Stake Raised by Acadian Asset Management LLC

Acadian Asset Management LLC grew its holdings in Waste Management, Inc. (NYSE:WM) by 23.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 436,547 shares of the business services provider’s stock after purchasing an additional 83,021 shares during the period. Acadian Asset Management LLC owned about 0.11% of Waste Management worth $93,114,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. ARS Wealth Advisors Group LLC lifted its position in Waste Management by 3.1% in the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after buying an additional 47 shares in the last quarter. McClarren Financial Advisors Inc. increased its stake in shares of Waste Management by 29.7% in the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after acquiring an additional 49 shares during the last quarter. Mayflower Financial Advisors LLC raised its holdings in shares of Waste Management by 1.2% during the first quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after acquiring an additional 50 shares in the last quarter. Cypress Asset Management Inc. TX boosted its position in Waste Management by 1.2% during the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock valued at $907,000 after purchasing an additional 50 shares during the last quarter. Finally, GYL Financial Synergies LLC grew its stake in Waste Management by 3.8% in the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock valued at $290,000 after purchasing an additional 50 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WM shares. Royal Bank of Canada reduced their price target on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. Robert W. Baird decreased their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. BMO Capital Markets reduced their price objective 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. Finally, The Goldman Sachs Group raised shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $215.83.

Insider Transactions at Waste Management

In related news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by insiders.

Waste Management Stock Down 1.8 %

Shares of WM opened at $204.73 on Friday. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $225.00. The firm has a market capitalization of $82.11 billion, a P/E ratio of 33.51, a P/E/G ratio of 2.34 and a beta of 0.74. The company has a 50-day simple moving average of $209.43 and a 200-day simple moving average of $208.73. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting 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 for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the previous year, the company earned $1.51 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

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

Waste Management Profile

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.