Covington Capital Management lessened its position in Waste Management, Inc. (NYSE:WM) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,713 shares of the business services provider’s stock after selling 250 shares during the period. Covington Capital Management’s holdings in Waste Management were worth $3,133,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of WM. Hudock Capital Group LLC increased 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 worth $151,000 after acquiring an additional 12 shares in the last quarter. Guardian Life Insurance Co. of America increased 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 worth $114,000 after acquiring an additional 14 shares in the last quarter. Lincoln National Corp increased 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 worth $323,000 after acquiring an additional 21 shares in the last quarter. Choate Investment Advisors increased 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 worth $235,000 after acquiring an additional 22 shares in the last quarter. Finally, Bridgewater Wealth & Financial Management LLC increased 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 worth $296,000 after acquiring an additional 22 shares in the last quarter. 74.93% of the stock is owned by hedge funds and other institutional investors.

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Several research analysts recently commented on the stock. Stifel Nicolaus cut shares of Waste Management from a “buy” rating to a “hold” rating and reduced their target price for the stock from $85.00 to $80.00 in a report on Wednesday, October 4th. BMO Capital Markets restated a “buy” rating and set a $82.00 target price on shares of Waste Management in a report on Friday, September 8th. KeyCorp restated a “buy” rating and set a $84.00 target price (up previously from $80.00) on shares of Waste Management in a report on Friday. Bank of America Corporation cut their price target on shares of Waste Management from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. Finally, Zacks Investment Research cut shares of Waste Management from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $78.47.

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

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, meeting analysts’ consensus estimates of $0.81. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.62 billion. During the same period last year, the business earned $0.74 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Thursday, September 7th. Waste Management’s dividend payout ratio (DPR) is presently 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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