Kayne Anderson Rudnick Investment Management LLC Has $25.84 Million Stake in Waste Management, Inc. (NYSE:WM)

Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 9.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,061 shares of the business services provider's stock after purchasing an additional 10,911 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Waste Management were worth $25,842,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of WM. Checchi Capital Advisers LLC lifted its position in Waste Management by 0.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 6,768 shares of the business services provider's stock valued at $1,366,000 after acquiring an additional 45 shares in the last quarter. Covestor Ltd raised its holdings in shares of Waste Management by 8.2% in the fourth quarter. Covestor Ltd now owns 609 shares of the business services provider's stock valued at $123,000 after purchasing an additional 46 shares during the last quarter. Catalyst Financial Partners LLC grew its position in Waste Management by 2.4% in the 4th quarter. Catalyst Financial Partners LLC now owns 2,039 shares of the business services provider's stock worth $411,000 after purchasing an additional 48 shares in the last quarter. Maia Wealth LLC lifted its position in shares of Waste Management by 4.1% during the 4th quarter. Maia Wealth LLC now owns 1,213 shares of the business services provider's stock worth $259,000 after buying an additional 48 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Waste Management by 1.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,091 shares of the business services provider's stock valued at $624,000 after acquiring an additional 49 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Insider Activity at Waste Management

In other Waste Management news, SVP Johnson Varkey sold 560 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $220.11, for a total value of $123,261.60. Following the transaction, the senior vice president now owns 9,152 shares in the company, valued at approximately $2,014,446.72. The trade was a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John A. Carroll sold 209 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $220.55, for a total value of $46,094.95. Following the transaction, the chief accounting officer now owns 9,066 shares in the company, valued at approximately $1,999,506.30. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,577 shares of company stock worth $21,662,464 in the last ninety days. 0.18% of the stock is owned by company insiders.

Waste Management Stock Performance

NYSE:WM opened at $230.84 on Monday. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $239.32. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. The business has a 50 day moving average of $227.89 and a 200 day moving average of $219.11. The company has a market capitalization of $92.87 billion, a price-to-earnings ratio of 33.95, a PEG ratio of 2.71 and a beta of 0.66.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. On average, sell-side analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.825 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.30 annualized dividend and a dividend yield of 1.43%. This is an increase from Waste Management's previous quarterly dividend of $0.75. Waste Management's payout ratio is currently 48.53%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. CIBC boosted their price target on shares of Waste Management from $227.00 to $247.00 and gave the stock a "neutral" rating in a report on Wednesday, March 5th. William Blair reiterated an "outperform" rating on shares of Waste Management in a research note on Friday, January 31st. Morgan Stanley boosted their target price on Waste Management from $227.00 to $235.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. UBS Group upped their price objective on shares of Waste Management from $230.00 to $240.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Finally, StockNews.com lowered Waste Management from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $237.76.

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.

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