Los Angeles Capital Management LLC Has $210.09 Million Stake in Waste Management, Inc. (NYSE:WM)

Los Angeles Capital Management LLC raised its position in shares of Waste Management, Inc. (NYSE:WM) by 248.5% in the 2nd quarter, Holdings Channel reports. The firm owned 984,774 shares of the business services provider’s stock after acquiring an additional 702,188 shares during the period. Waste Management accounts for approximately 0.8% of Los Angeles Capital Management LLC’s holdings, making the stock its 25th largest position. Los Angeles Capital Management LLC’s holdings in Waste Management were worth $210,092,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Gryphon Financial Partners LLC grew its stake in shares of Waste Management by 83.9% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,770 shares of the business services provider’s stock worth $838,000 after purchasing an additional 2,176 shares during the last quarter. Wealthspire Advisors LLC raised its holdings in Waste Management by 8.1% during the 4th quarter. Wealthspire Advisors LLC now owns 6,088 shares of the business services provider’s stock worth $1,090,000 after purchasing an additional 456 shares during the last quarter. Ethos Financial Group LLC bought a new stake in shares of Waste Management in the 4th quarter valued at $205,000. Montag A & Associates Inc. increased its position in shares of Waste Management by 89.8% during the fourth quarter. Montag A & Associates Inc. now owns 634 shares of the business services provider’s stock worth $114,000 after buying an additional 300 shares during the period. Finally, Principal Securities Inc. bought a new position in Waste Management during the fourth quarter worth $532,000. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Performance

Shares of Waste Management stock traded down $3.67 during mid-day trading on Friday, hitting $204.73. 2,349,656 shares of the stock were exchanged, compared to its average volume of 1,672,766. The company has a 50-day simple moving average of $209.43 and a 200 day simple moving average of $208.68. The company 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. Waste Management, Inc. has a 12 month low of $149.71 and a 12 month high of $225.00. 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 released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the business posted $1.51 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Insider Transactions at Waste Management

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

Wall Street Analysts Forecast Growth

WM has been the subject of a number of recent analyst reports. Oppenheimer decreased their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Royal Bank of Canada lowered their target price 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. Deutsche Bank Aktiengesellschaft began coverage on Waste Management in a report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 price target on the stock. BMO Capital Markets dropped their target price on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. Finally, CIBC decreased their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Eleven 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. Based on data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average price target of $215.83.

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.