DnB Asset Management AS lifted its position in shares of Waste Management, Inc. (NYSE:WM) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,194 shares of the business services provider’s stock after purchasing an additional 2,900 shares during the period. DnB Asset Management AS’s holdings in Waste Management were worth $4,504,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. FTB Advisors Inc. increased its position in shares of Waste Management by 4.3% during the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock valued at $116,000 after acquiring an additional 65 shares in the last quarter. Gyroscope Capital Management Group LLC grew its position in Waste Management by 1.8% in the 2nd quarter. Gyroscope Capital Management Group LLC now owns 3,913 shares of the business services provider’s stock worth $287,000 after purchasing an additional 70 shares during the period. Hall Laurie J Trustee grew its position in Waste Management by 1.0% in the 2nd quarter. Hall Laurie J Trustee now owns 18,555 shares of the business services provider’s stock worth $1,361,000 after purchasing an additional 175 shares during the period. Marietta Wealth Management LLC grew its position in Waste Management by 3.9% in the 2nd quarter. Marietta Wealth Management LLC now owns 5,010 shares of the business services provider’s stock worth $367,000 after purchasing an additional 190 shares during the period. Finally, ProShare Advisors LLC grew its position in Waste Management by 0.3% in the 2nd quarter. ProShare Advisors LLC now owns 67,498 shares of the business services provider’s stock worth $4,951,000 after purchasing an additional 198 shares during the period. Institutional investors own 75.04% of the company’s stock.
A number of brokerages have recently issued reports on WM. Macquarie raised shares of Waste Management from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 3rd. BMO Capital Markets lifted their target price on shares of Waste Management from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Zacks Investment Research cut shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. Stifel Nicolaus upgraded shares of Waste Management from a “hold” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $95.00 in a report on Monday, December 11th. Finally, KeyCorp restated a “buy” rating and issued a $88.00 target price on shares of Waste Management in a report on Friday, October 27th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $86.78.
Shares of Waste Management, Inc. (NYSE WM) traded down $1.32 on Friday, hitting $86.53. 2,039,675 shares of the stock traded hands, compared to its average volume of 1,500,000. Waste Management, Inc. has a 52-week low of $69.31 and a 52-week high of $89.73. The stock has a market cap of $37,570.00, a PE ratio of 27.82, a PEG ratio of 2.59 and a beta of 0.70. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.71 and a quick ratio of 0.68.
Waste Management announced that its board has approved a stock buyback plan on Thursday, December 14th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In other Waste Management news, SVP Barry H. Caldwell sold 1,650 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $81.10, for a total value of $133,815.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick W. Gross sold 387 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $88.30, for a total transaction of $34,172.10. Following the completion of the transaction, the director now directly owns 30,673 shares of the company’s stock, valued at approximately $2,708,425.90. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.
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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.
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