Calton & Associates Inc. acquired a new stake in Waste Management, Inc. (NYSE:WM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,086 shares of the business services provider’s stock, valued at approximately $893,000.
Other institutional investors have also added to or reduced their stakes in the company. California Public Employees Retirement System raised its position in Waste Management by 6.2% in the third quarter. California Public Employees Retirement System now owns 1,466,158 shares of the business services provider’s stock worth $114,756,000 after acquiring an additional 85,636 shares during the period. Yellowstone Partners LLC purchased a new position in shares of Waste Management in the third quarter worth about $449,000. Personal Capital Advisors Corp increased its stake in shares of Waste Management by 24.0% in the third quarter. Personal Capital Advisors Corp now owns 163,337 shares of the business services provider’s stock worth $12,784,000 after purchasing an additional 31,585 shares in the last quarter. Moody Lynn & Lieberson LLC increased its stake in shares of Waste Management by 20.1% in the third quarter. Moody Lynn & Lieberson LLC now owns 171,716 shares of the business services provider’s stock worth $13,440,000 after purchasing an additional 28,760 shares in the last quarter. Finally, First National Trust Co increased its stake in shares of Waste Management by 19.8% in the fourth quarter. First National Trust Co now owns 18,600 shares of the business services provider’s stock worth $1,606,000 after purchasing an additional 3,073 shares in the last quarter. 75.33% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Patrick W. Gross sold 387 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total value of $34,172.10. Following the sale, the director now directly owns 30,673 shares of the company’s stock, valued at approximately $2,708,425.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Barry H. Caldwell sold 1,650 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total transaction of $133,815.00. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.
Several equities analysts recently commented on WM shares. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Tuesday, December 26th. Stifel Nicolaus raised shares of Waste Management from a “hold” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $95.00 in a research note on Monday, December 11th. Credit Suisse Group set a $90.00 target price on shares of Waste Management and gave the company a “buy” rating in a research report on Monday, October 30th. KeyCorp reiterated a “buy” rating and set a $88.00 target price on shares of Waste Management in a research report on Friday, October 27th. Finally, Macquarie upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 3rd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Waste Management currently has an average rating of “Buy” and an average target price of $86.00.
Shares of Waste Management, Inc. (NYSE:WM) traded down $0.11 during trading on Tuesday, reaching $80.46. 787,499 shares of the company’s stock were exchanged, compared to its average volume of 2,140,766. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 1.60. The stock has a market cap of $34,980.00, a P/E ratio of 25.87, a P/E/G ratio of 2.25 and a beta of 0.70. Waste Management, Inc. has a fifty-two week low of $69.55 and a fifty-two week high of $89.73.
Waste Management announced that its Board of Directors 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 purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
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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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