Pinebridge Investments L.P. Boosts Position in Waste Management, Inc. (NYSE:WM)

Pinebridge Investments L.P. raised its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 68.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,841 shares of the business services provider's stock after buying an additional 72,860 shares during the period. Pinebridge Investments L.P.'s holdings in Waste Management were worth $36,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates increased its holdings 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 during the period. Transce3nd LLC bought a new position in shares of Waste Management during the 4th quarter worth $28,000. General Partner Inc. purchased a new position in shares of Waste Management during the fourth quarter valued at $29,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Waste Management in the fourth quarter valued at about $33,000. Finally, Hurley Capital LLC purchased a new stake in Waste Management in the fourth quarter worth about $34,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Waste Management

In other news, CEO James C. Fish, Jr. sold 44,405 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $228.43, for a total value of $10,143,434.15. Following the sale, the chief executive officer now owns 211,061 shares in the company, valued at $48,212,664.23. This represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John J. Morris sold 19,153 shares of Waste Management stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.71, for a total value of $4,303,870.63. Following the transaction, the executive vice president now owns 85,257 shares of the company's stock, valued at approximately $19,158,100.47. This represents a 18.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,577 shares of company stock worth $21,662,464 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

Waste Management Price Performance

Shares of WM opened at $229.74 on Wednesday. The firm has a market capitalization of $92.43 billion, a PE ratio of 33.79, a price-to-earnings-growth ratio of 2.71 and a beta of 0.66. 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 company's fifty day moving average price is $227.94 and its 200-day moving average price is $219.32. Waste Management, Inc. has a 1-year low of $196.59 and a 1-year high of $239.32.

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 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.44%. This is a boost from Waste Management's previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 14th. Waste Management's payout ratio is presently 48.53%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WM shares. Raymond James upped their price target on shares of Waste Management from $235.00 to $237.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. William Blair restated an "outperform" rating on shares of Waste Management in a report on Friday, January 31st. Scotiabank boosted their price target on Waste Management from $255.00 to $260.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, April 8th. Oppenheimer raised their price objective on Waste Management from $231.00 to $237.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Finally, CIBC boosted their target price 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. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Waste Management presently has a consensus rating of "Moderate Buy" and an average target price of $237.76.

About Waste Management

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.

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.