Kernodle & Katon Asset Management Group LLC raised its position in Waste Management, Inc. (NYSE:WM) by 29.5% during the first quarter, Holdings Channel reports. The fund owned 3,365 shares of the business services provider’s stock after buying an additional 767 shares during the period. Kernodle & Katon Asset Management Group LLC’s holdings in Waste Management were worth $245,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WM. CHURCHILL MANAGEMENT Corp boosted its stake in shares of Waste Management by 4.2% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 278,733 shares of the business services provider’s stock worth $20,325,000 after buying an additional 11,138 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Waste Management by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 353,845 shares of the business services provider’s stock worth $25,803,000 after buying an additional 9,380 shares during the period. Franklin Street Advisors Inc. NC boosted its stake in shares of Waste Management by 7.5% in the first quarter. Franklin Street Advisors Inc. NC now owns 92,942 shares of the business services provider’s stock worth $6,777,000 after buying an additional 6,509 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Waste Management during the fourth quarter worth about $934,000. Finally, Kentucky Retirement Systems purchased a new stake in shares of Waste Management during the fourth quarter worth about $2,092,000. 74.98% of the stock is owned by institutional investors.

Shares of Waste Management, Inc. (NYSE:WM) opened at 75.37 on Friday. Waste Management, Inc. has a 12 month low of $61.08 and a 12 month high of $75.42. The stock’s 50 day moving average is $73.71 and its 200 day moving average is $72.29. The firm has a market cap of $33.31 billion, a PE ratio of 27.50 and a beta of 0.71.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, April 26th. The business services provider reported $0.66 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. Waste Management had a return on equity of 24.76% and a net margin of 8.81%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. Analysts forecast that Waste Management, Inc. will post $3.18 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, June 9th were paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Wednesday, June 7th. Waste Management’s dividend payout ratio is currently 62.04%.

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WM has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Thursday, June 22nd. Stifel Nicolaus increased their target price on shares of Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.94.

In other news, Director Patrick W. Gross sold 487 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total value of $36,369.16. Following the completion of the transaction, the director now owns 23,222 shares of the company’s stock, valued at $1,734,218.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James C. Fish, Jr. sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $72.19, for a total value of $252,665.00. Following the completion of the transaction, the chief executive officer now directly owns 151,162 shares of the company’s stock, valued at approximately $10,912,384.78. The disclosure for this sale can be found here. Insiders sold 7,940 shares of company stock valued at $575,603 in the last ninety days. 0.19% of the stock is currently owned by insiders.

About Waste Management

Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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