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

Los Angeles Capital Management LLC boosted its position in shares of Waste Management, Inc. (NYSE:WM) by 248.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 0.8% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 25th biggest holding. Los Angeles Capital Management LLC owned approximately 0.25% of Waste Management worth $210,092,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Hexagon Capital Partners LLC boosted its holdings in Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares during the period. Sachetta LLC bought a new stake in Waste Management in the 4th quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Waste Management in the 2nd quarter valued at $31,000. Opal Wealth Advisors LLC acquired a new position in shares of Waste Management in the 1st quarter valued at $35,000. Finally, DSM Capital Partners LLC acquired a new position in shares of Waste Management in the 4th quarter valued at $38,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Down 1.8 %

Shares of NYSE WM traded down $3.67 during midday trading on Friday, reaching $204.73. The company’s stock had a trading volume of 2,349,656 shares, compared to its average volume of 1,672,766. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00. The stock has a market capitalization of $82.11 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 2.34 and a beta of 0.74. The stock has a 50 day simple moving average of $209.43 and a 200-day simple moving average of $208.68.

Waste Management (NYSE:WM) last issued its 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. The business had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.51 earnings per share. Equities research analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.47%. Waste Management’s payout ratio is 49.10%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WM shares. BMO Capital Markets dropped 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. Oppenheimer dropped their price objective on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Robert W. Baird dropped 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Waste Management in a research report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 target price for the company. Finally, Royal Bank of Canada lowered their price objective on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $215.83.

Insider Buying and Selling

In other news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction dated 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 directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Waste Management Company 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.