Intersect Capital LLC boosted its stake in Waste Management, Inc. (NYSE:WM) by 33.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 24,186 shares of the business services provider’s stock after buying an additional 6,009 shares during the period. Waste Management accounts for about 1.1% of Intersect Capital LLC’s investment portfolio, making the stock its 28th largest position. Intersect Capital LLC’s holdings in Waste Management were worth $1,774,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America boosted its position in Waste Management by 0.9% in 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 buying an additional 14 shares during the last quarter. Lincoln National Corp boosted its position in Waste Management by 0.5% in the second quarter. Lincoln National Corp now owns 4,404 shares of the business services provider’s stock valued at $323,000 after buying an additional 21 shares during the last quarter. Choate Investment Advisors boosted its position in Waste Management by 0.7% in the first quarter. Choate Investment Advisors now owns 3,224 shares of the business services provider’s stock valued at $235,000 after buying an additional 22 shares during the last quarter. Bridgewater Wealth & Financial Management LLC boosted its position in Waste Management by 0.5% in 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 buying an additional 22 shares during the last quarter. Finally, Lakeview Capital Partners LLC boosted its position in Waste Management by 0.8% in the first quarter. Lakeview Capital Partners LLC now owns 3,630 shares of the business services provider’s stock valued at $265,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 74.98% of the company’s stock.

Shares of Waste Management, Inc. (WM) opened at 77.11 on Friday. The firm has a market capitalization of $33.93 billion, a price-to-earnings ratio of 26.41 and a beta of 0.71. Waste Management, Inc. has a 12-month low of $61.08 and a 12-month high of $77.18. The stock’s 50 day moving average price is $75.42 and its 200 day moving average price is $73.49.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same period in the previous year, the company posted $0.74 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts expect that Waste Management, Inc. will post $3.19 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be paid a dividend of $0.425 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.20%. Waste Management’s payout ratio is 58.42%.

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Several research analysts have weighed in on the company. BMO Capital Markets assumed coverage on Waste Management in a research report on Thursday, June 29th. They set an “outperform” rating and a $81.00 price objective on the stock. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research report on Thursday, June 22nd. Stifel Nicolaus increased their price objective on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Credit Suisse Group increased their price objective on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 28th. Finally, KeyCorp increased their price objective on Waste Management from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, May 11th. 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 company. The company currently has an average rating of “Hold” and a consensus target price of $76.10.

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

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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