Los Angeles Capital Management LLC Grows Position in Waste Management, Inc. (NYSE:WM)

Los Angeles Capital Management LLC increased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 248.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 984,774 shares of the business services provider's stock after buying an additional 702,188 shares during the period. Waste Management accounts for approximately 0.8% of Los Angeles Capital Management LLC's investment portfolio, making the stock its 25th biggest position. 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.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Waste Management during the fourth quarter worth $784,486,000. Sustainable Growth Advisers LP bought a new stake in shares of Waste Management during the 1st quarter worth about $300,594,000. Capital World Investors grew its stake in Waste Management by 44.6% in the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider's stock valued at $900,957,000 after buying an additional 1,303,466 shares during the last quarter. Swedbank AB bought a new position in Waste Management in the 1st quarter valued at about $193,955,000. Finally, AMF Tjanstepension AB boosted its holdings in shares of Waste Management by 85.6% during the second quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider's stock worth $333,234,000 after acquiring an additional 720,358 shares during the period. 80.40% of the stock is owned by institutional investors.

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company's stock.

Waste Management Stock Down 1.8 %

WM traded down $3.67 during mid-day trading on Friday, reaching $204.73. 2,349,656 shares of the stock were exchanged, compared to its average volume of 1,672,766. The company has a 50 day moving average price of $209.43 and a two-hundred day moving average price of $208.73. The stock has a market capitalization of $82.11 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 2.34 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $225.00.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the firm posted $1.51 EPS. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Truist Financial dropped their price target on Waste Management from $240.00 to $235.00 and set a "buy" rating for the company in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Waste Management in a research report on Wednesday, May 22nd. They issued a "buy" rating and a $241.00 target price for the company. StockNews.com cut shares of Waste Management from a "strong-buy" rating to a "buy" rating in a research note on Thursday, July 25th. Erste Group Bank restated a "hold" rating on shares of Waste Management in a research report on Friday, June 14th. Finally, CIBC cut their price target on Waste Management from $223.00 to $213.00 and set a "neutral" rating for the company in a research note on Friday, July 26th. Eleven research 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $215.83.

Waste Management 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.