Payden & Rygel Purchases 1,800 Shares of Waste Management, Inc. (NYSE:WM)

Payden & Rygel lifted its position in Waste Management, Inc. (NYSE:WMGet Rating) by 14.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,700 shares of the business services provider’s stock after buying an additional 1,800 shares during the period. Payden & Rygel’s holdings in Waste Management were worth $2,330,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Waste Management by 1.4% in the 4th quarter. BlackRock Inc. now owns 29,941,759 shares of the business services provider’s stock valued at $4,997,279,000 after buying an additional 407,039 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Waste Management by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 6,612,143 shares of the business services provider’s stock valued at $1,100,331,000 after buying an additional 143,649 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Waste Management by 4.2% in the 1st quarter. Nordea Investment Management AB now owns 5,533,636 shares of the business services provider’s stock valued at $889,809,000 after buying an additional 221,439 shares in the last quarter. Norges Bank bought a new stake in shares of Waste Management in the 4th quarter valued at $687,551,000. Finally, Alliancebernstein L.P. increased its position in shares of Waste Management by 5.4% in the 4th quarter. Alliancebernstein L.P. now owns 3,031,198 shares of the business services provider’s stock valued at $505,907,000 after buying an additional 155,201 shares in the last quarter. Institutional investors and hedge funds own 80.37% of the company’s stock.

A number of equities analysts recently weighed in on WM shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Waste Management from $157.00 to $167.00 in a research note on Thursday, April 28th. BMO Capital Markets lowered shares of Waste Management from an “outperform” rating to a “market perform” rating and set a $174.00 target price for the company. in a research note on Tuesday, April 12th. JPMorgan Chase & Co. started coverage on shares of Waste Management in a research note on Tuesday, March 1st. They issued a “neutral” rating and a $153.00 target price for the company. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 28th. Finally, Morgan Stanley reduced their target price on shares of Waste Management from $165.00 to $160.00 and set an “equal weight” rating for the company in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Waste Management has an average rating of “Hold” and an average target price of $163.00.

Shares of Waste Management stock traded up $1.79 during trading hours on Thursday, reaching $146.70. 4,103 shares of the company’s stock were exchanged, compared to its average volume of 1,471,831. The company has a 50 day moving average of $156.32 and a two-hundred day moving average of $155.51. Waste Management, Inc. has a fifty-two week low of $138.08 and a fifty-two week high of $170.18. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.83. The stock has a market cap of $60.91 billion, a P/E ratio of 31.92, a P/E/G ratio of 2.39 and a beta of 0.80.

Waste Management (NYSE:WMGet Rating) last issued its earnings results on Tuesday, April 26th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.17. The company had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.45 billion. Waste Management had a net margin of 10.32% and a return on equity of 29.67%. Waste Management’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 EPS. As a group, analysts expect that Waste Management, Inc. will post 5.55 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Friday, June 3rd were issued a $0.65 dividend. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.77%. Waste Management’s payout ratio is 57.27%.

In other Waste Management news, SVP Nikolaj H. Sjoqvist sold 10,311 shares of the stock in a transaction dated Thursday, April 28th. The shares were sold at an average price of $166.57, for a total value of $1,717,503.27. Following the transaction, the senior vice president now directly owns 38,769 shares of the company’s stock, valued at approximately $6,457,752.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James C. Fish, Jr. sold 28,976 shares of the stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $158.05, for a total transaction of $4,579,656.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,961 shares of company stock worth $14,651,682. 0.18% of the stock is owned by insiders.

Waste Management Company Profile (Get Rating)

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, 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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