Payden & Rygel held its position in shares of Waste Management, Inc. (NYSE:WM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,800 shares of the business services provider’s stock at the end of the second quarter. Waste Management accounts for approximately 1.4% of Payden & Rygel’s holdings, making the stock its 23rd biggest position. Payden & Rygel owned about 0.05% of Waste Management worth $16,562,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of WM. Bank of Nova Scotia increased its holdings in shares of Waste Management by 23.4% in the first quarter. Bank of Nova Scotia now owns 411,484 shares of the business services provider’s stock valued at $30,005,000 after purchasing an additional 78,100 shares in the last quarter. Intersect Capital LLC increased its holdings in shares of Waste Management by 33.1% in the second quarter. Intersect Capital LLC now owns 24,186 shares of the business services provider’s stock valued at $1,774,000 after purchasing an additional 6,009 shares in the last quarter. Global X Management Co. LLC increased its holdings in shares of Waste Management by 28.6% in the first quarter. Global X Management Co. LLC now owns 5,037 shares of the business services provider’s stock valued at $367,000 after purchasing an additional 1,121 shares in the last quarter. World Asset Management Inc increased its holdings in shares of Waste Management by 17.2% in the first quarter. World Asset Management Inc now owns 45,871 shares of the business services provider’s stock valued at $3,345,000 after purchasing an additional 6,748 shares in the last quarter. Finally, Aviva PLC increased its holdings in shares of Waste Management by 1.0% in the second quarter. Aviva PLC now owns 277,131 shares of the business services provider’s stock valued at $20,328,000 after purchasing an additional 2,710 shares in the last quarter. 74.99% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on WM. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a report on Thursday, June 22nd. Stifel Nicolaus raised their price target on shares of Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. BMO Capital Markets began coverage on shares of Waste Management in a report on Thursday, June 29th. They issued an “outperform” rating and a $81.00 price target for the company. Credit Suisse Group raised their price target on shares of Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. raised their price target on shares of Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $76.19.

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Shares of Waste Management, Inc. (NYSE:WM) traded up 0.21% during trading on Friday, hitting $78.00. 2,335,827 shares of the stock were exchanged. The stock has a market cap of $34.32 billion, a P/E ratio of 26.71 and a beta of 0.71. Waste Management, Inc. has a 52 week low of $61.08 and a 52 week high of $78.39. The firm’s 50 day moving average price is $76.10 and its 200-day moving average price is $73.85.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.62 billion. During the same period in the prior year, the company posted $0.74 earnings per share. Waste Management’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, analysts predict that Waste Management, Inc. will post $3.19 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Thursday, September 7th. Waste Management’s dividend payout ratio (DPR) is presently 58.42%.

In related news, Director Patrick W. Gross sold 487 shares of the stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total transaction of $36,369.16. Following the transaction, the director now directly owns 23,222 shares of the company’s stock, valued at $1,734,218.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John C. Pope sold 453 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $74.38, for a total transaction of $33,694.14. Following the transaction, the director now directly owns 51,470 shares in the company, valued at $3,828,338.60. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Waste Management Company Profile

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.

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

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