Waste Management, Inc. (NYSE:WM) Position Boosted by AGF Investments Inc.

AGF Investments Inc. raised its holdings in Waste Management, Inc. (NYSE:WM) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,677,896 shares of the business services provider’s stock after buying an additional 42,257 shares during the period. Waste Management comprises about 2.3% of AGF Investments Inc.’s holdings, making the stock its 4th largest position. AGF Investments Inc. owned approximately 0.61% of Waste Management worth $196,497,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Hudock Capital Group LLC lifted its position in shares of Waste Management by 0.6% during the second quarter. Hudock Capital Group LLC now owns 2,060 shares of the business services provider’s stock valued at $151,000 after purchasing an additional 12 shares in the last quarter. Guardian Life Insurance Co. of America lifted its position in shares of Waste Management by 0.9% during the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock valued at $114,000 after purchasing an additional 14 shares in the last quarter. Lincoln National Corp lifted its position in shares of Waste Management by 0.5% during the second quarter. Lincoln National Corp now owns 4,404 shares of the business services provider’s stock valued at $323,000 after purchasing an additional 21 shares in the last quarter. Choate Investment Advisors lifted its position in shares of Waste Management by 0.7% during the first quarter. Choate Investment Advisors now owns 3,224 shares of the business services provider’s stock valued at $235,000 after purchasing an additional 22 shares in the last quarter. Finally, Bridgewater Wealth & Financial Management LLC lifted its position in shares of Waste Management by 0.5% during the second quarter. Bridgewater Wealth & Financial Management LLC now owns 4,032 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 22 shares in the last quarter. 74.99% of the stock is currently owned by institutional investors.

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In other Waste Management news, Director Patrick W. Gross sold 487 shares of the company’s stock in a transaction 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 sale, the director now directly owns 23,222 shares in the company, valued at approximately $1,734,218.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John C. Pope sold 453 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the completion of the sale, the director now owns 51,470 shares of the company’s stock, valued at $3,828,338.60. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. BMO Capital Markets reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Waste Management in a research report on Friday, September 8th. Credit Suisse Group lifted their price objective on shares of Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 28th. Finally, Stifel Nicolaus lifted their price objective on shares of Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $76.19.

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

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

The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors 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 payout ratio is 58.42%.

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.

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

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