Payden & Rygel Trims Holdings in Waste Management, Inc. (NYSE:WM)

Payden & Rygel decreased its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 81.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,200 shares of the business services provider's stock after selling 5,300 shares during the quarter. Payden & Rygel's holdings in Waste Management were worth $242,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in WM. Global Wealth Strategies & Associates increased its position in Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider's stock worth $28,000 after purchasing an additional 125 shares in the last quarter. General Partner Inc. bought a new position in shares of Waste Management in the fourth quarter valued at approximately $29,000. Halbert Hargrove Global Advisors LLC acquired a new position in Waste Management in the fourth quarter worth approximately $33,000. Sugar Maple Asset Management LLC purchased a new position in Waste Management during the 4th quarter worth approximately $35,000. Finally, Richardson Financial Services Inc. boosted its position in Waste Management by 65.7% during the fourth quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider's stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Price Performance

Shares of WM stock traded up $2.63 on Thursday, hitting $227.05. 1,032,146 shares of the company's stock were exchanged, compared to its average volume of 1,632,362. 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 stock has a market cap of $91.35 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 2.71 and a beta of 0.66. Waste Management, Inc. has a 12 month low of $196.59 and a 12 month high of $239.32. The company has a 50 day moving average of $227.14 and a 200 day moving average of $217.91.

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Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share 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, equities research analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.45%. This is a positive change from Waste Management's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, March 14th. Waste Management's payout ratio is presently 48.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WM shares. Scotiabank boosted their target price on shares of Waste Management from $255.00 to $260.00 and gave the stock a "sector outperform" rating in a research report on Tuesday. William Blair reiterated an "outperform" rating on shares of Waste Management in a research note on Friday, January 31st. StockNews.com cut shares of Waste Management from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Morgan Stanley upped their price target 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. Finally, Jefferies Financial Group dropped their price objective on Waste Management from $255.00 to $238.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $236.94.

Insider Transactions at Waste Management

In other news, SVP Johnson Varkey sold 124 shares of Waste Management stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $234.96, for a total transaction of $29,135.04. Following the sale, the senior vice president now directly owns 8,491 shares in the company, valued at $1,995,045.36. The trade was a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO John A. Carroll sold 209 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $220.55, for a total transaction of $46,094.95. Following the transaction, the chief accounting officer now owns 9,066 shares of the company's stock, valued at approximately $1,999,506.30. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,577 shares of company stock valued at $21,662,464 over the last ninety days. 0.18% of the stock is currently owned by insiders.

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.