Advisors Asset Management Inc. Purchases 4,015 Shares of Waste Management, Inc. (NYSE:WM)

Advisors Asset Management Inc. increased its position in Waste Management, Inc. (NYSE:WM - Free Report) by 13.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,667 shares of the business services provider's stock after buying an additional 4,015 shares during the quarter. Advisors Asset Management Inc.'s holdings in Waste Management were worth $6,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in WM. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management in the 2nd quarter valued at about $31,000. Fairway Wealth LLC grew its holdings in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider's stock worth $36,000 after purchasing an additional 66 shares during the last quarter. Fairscale Capital LLC bought a new stake in Waste Management during the 2nd quarter valued at $39,000. Strategic Investment Solutions Inc. IL purchased a new stake in Waste Management during the 2nd quarter valued at $36,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of Waste Management by 67.2% during the second quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider's stock valued at $42,000 after buying an additional 80 shares during the period. Institutional investors own 80.40% of the company's stock.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the firm's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares of the company's stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Stock Performance

Shares of WM stock traded up $1.23 during trading hours on Thursday, reaching $220.01. 247,999 shares of the company traded hands, compared to its average volume of 1,604,905. The firm has a 50-day moving average price of $212.24 and a 200 day moving average price of $209.92. The company has a market cap of $88.31 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.30 and a beta of 0.74. Waste Management, Inc. has a 12-month low of $168.73 and a 12-month high of $226.84. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. Waste Management's quarterly revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.36%. Waste Management's dividend payout ratio is 45.87%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WM. UBS Group boosted their price objective on shares of Waste Management from $220.00 to $226.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Robert W. Baird reduced their target price on Waste Management from $226.00 to $216.00 and set a "neutral" rating on the stock in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on Waste Management from $213.00 to $219.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Oppenheimer upped their target price on shares of Waste Management from $230.00 to $231.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Finally, BMO Capital Markets boosted their price objective on shares of Waste Management from $213.00 to $220.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus target price of $226.11.

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.