AGF Investments Inc. increased its holdings in Waste Management, Inc. (NYSE:WM) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,677,896 shares of the business services provider’s stock after acquiring an additional 42,257 shares during the quarter. Waste Management comprises about 2.3% of AGF Investments Inc.’s investment portfolio, making the stock its 4th biggest holding. AGF Investments Inc. owned about 0.61% of Waste Management worth $196,497,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Hudock Capital Group LLC increased its stake in shares of Waste Management by 0.6% in the 2nd quarter. Hudock Capital Group LLC now owns 2,060 shares of the business services provider’s stock worth $151,000 after acquiring an additional 12 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in Waste Management by 0.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock valued at $114,000 after purchasing an additional 14 shares in the last quarter. Lincoln National Corp increased its stake in Waste Management by 0.5% during the 2nd quarter. Lincoln National Corp now owns 4,404 shares of the business services provider’s stock valued at $323,000 after purchasing an additional 21 shares in the last quarter. Choate Investment Advisors increased its stake in Waste Management by 0.7% during the 1st quarter. Choate Investment Advisors now owns 3,224 shares of the business services provider’s stock valued at $235,000 after purchasing an additional 22 shares in the last quarter. Finally, Bridgewater Wealth & Financial Management LLC increased its stake in Waste Management by 0.5% during the 2nd quarter. Bridgewater Wealth & Financial Management LLC now owns 4,032 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 74.99% of the company’s stock.
WM has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research note on Tuesday, May 16th. Credit Suisse Group raised their price objective on shares of Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, June 28th. Finally, BMO Capital Markets initiated coverage on shares of Waste Management in a research note on Thursday, June 29th. They set an “outperform” rating and a $81.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Waste Management presently has a consensus rating of “Hold” and a consensus price target of $76.19.
Shares of Waste Management, Inc. (NYSE WM) opened at 77.12 on Friday. Waste Management, Inc. has a 52 week low of $61.08 and a 52 week high of $77.52. The company has a market capitalization of $33.94 billion, a price-to-earnings ratio of 26.41 and a beta of 0.71. The stock has a 50 day moving average of $75.71 and a 200-day moving average of $73.67.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, analysts anticipate that Waste Management, Inc. will post $3.19 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.70 annualized dividend and a dividend yield of 2.20%. Waste Management’s dividend payout ratio (DPR) is currently 58.42%.
In related news, Director Patrick W. Gross sold 487 shares of the stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total value of $36,369.16. Following the transaction, the director now owns 23,222 shares in the company, valued at approximately $1,734,218.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John C. Pope sold 453 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $74.38, for a total transaction of $33,694.14. Following the completion of the transaction, the director now owns 51,470 shares in the company, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
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About Waste Management
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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