Kayne Anderson Rudnick Investment Management LLC Increases Position in Waste Management, Inc. (NYSE:WM)

Kayne Anderson Rudnick Investment Management LLC raised its position in Waste Management, Inc. (NYSE:WM) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,328 shares of the business services provider’s stock after purchasing an additional 1,028 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Waste Management were worth $22,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Hexagon Capital Partners LLC grew its position in shares of Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management during the 2nd quarter worth $31,000. Opal Wealth Advisors LLC acquired a new stake in Waste Management during the 1st quarter worth $35,000. Fairway Wealth LLC lifted its stake in shares of Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares during the period. Finally, DSM Capital Partners LLC acquired a new stake in shares of Waste Management in the 4th quarter worth $38,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

NYSE:WM opened at $204.10 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The firm has a 50-day moving average price of $208.53 and a two-hundred day moving average price of $208.69. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $225.00. The company has a market capitalization of $81.86 billion, a P/E ratio of 33.40, a price-to-earnings-growth ratio of 2.33 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting the consensus estimate of $1.82. The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $1.51 EPS. As a group, research analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.47%. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

WM has been the subject of several recent analyst reports. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. BMO Capital Markets reduced their target price on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. Robert W. Baird reduced their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Finally, CIBC reduced their target price on shares of 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 investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and an average target price of $215.83.

Waste Management Company 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.