Pinnacle Financial Partners Inc. increased its position in Waste Management, Inc. (NYSE:WM) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,472 shares of the business services provider’s stock after buying an additional 1,922 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Waste Management were worth $2,975,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of WM. Wells Fargo & Company MN boosted its stake in Waste Management by 1.4% during the 3rd quarter. Wells Fargo & Company MN now owns 7,277,527 shares of the business services provider’s stock valued at $569,612,000 after purchasing an additional 103,234 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Waste Management by 8.5% during the 3rd quarter. Janus Henderson Group PLC now owns 4,684,275 shares of the business services provider’s stock valued at $366,641,000 after purchasing an additional 366,450 shares during the last quarter. APG Asset Management N.V. boosted its stake in Waste Management by 74.7% during the 4th quarter. APG Asset Management N.V. now owns 4,222,539 shares of the business services provider’s stock valued at $303,469,000 after purchasing an additional 1,805,408 shares during the last quarter. Swiss National Bank boosted its stake in Waste Management by 1.2% during the 4th quarter. Swiss National Bank now owns 2,466,803 shares of the business services provider’s stock valued at $212,885,000 after purchasing an additional 28,100 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Waste Management by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 2,399,990 shares of the business services provider’s stock valued at $187,855,000 after purchasing an additional 64,680 shares during the last quarter. Institutional investors own 75.33% of the company’s stock.
In other news, SVP Barry H. Caldwell sold 1,650 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total value of $133,815.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Patrick W. Gross sold 387 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $88.30, for a total value of $34,172.10. Following the completion of the transaction, the director now owns 30,673 shares in the company, valued at approximately $2,708,425.90. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.
WM has been the subject of a number of analyst reports. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Credit Suisse Group set a $90.00 price target on Waste Management and gave the company a “buy” rating in a research note on Monday, October 30th. Oppenheimer lifted their price target on Waste Management from $82.00 to $87.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Stifel Nicolaus upgraded Waste Management from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $95.00 in a research note on Monday, December 11th. Finally, KeyCorp reiterated a “buy” rating and set a $88.00 price target on shares of Waste Management in a research note on Friday, October 27th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $86.00.
Waste Management, Inc. (NYSE WM) opened at $80.79 on Wednesday. Waste Management, Inc. has a 12 month low of $69.55 and a 12 month high of $89.73. The firm has a market capitalization of $34,984.80, a P/E ratio of 25.82, a PEG ratio of 2.26 and a beta of 0.70. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 1.60.
Waste Management declared that its Board of Directors has authorized a share repurchase program on Thursday, December 14th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
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Waste Management Company Profile
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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