Meridian Wealth Management LLC decreased its stake in Waste Management, Inc. (NYSE:WM) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,961 shares of the business services provider’s stock after selling 186 shares during the quarter. Meridian Wealth Management LLC’s holdings in Waste Management were worth $619,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. South Texas Money Management Ltd. increased its holdings in shares of Waste Management by 0.8% in the fourth quarter. South Texas Money Management Ltd. now owns 41,557 shares of the business services provider’s stock worth $3,698,000 after acquiring an additional 339 shares in the last quarter. NuWave Investment Management LLC increased its holdings in shares of Waste Management by 2,840.6% in the fourth quarter. NuWave Investment Management LLC now owns 6,440 shares of the business services provider’s stock worth $573,000 after acquiring an additional 6,221 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Waste Management by 97.0% in the second quarter. Schroder Investment Management Group now owns 210,343 shares of the business services provider’s stock worth $16,990,000 after acquiring an additional 103,546 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Waste Management by 24.6% in the third quarter. First Trust Advisors LP now owns 477,415 shares of the business services provider’s stock worth $43,139,000 after acquiring an additional 94,283 shares in the last quarter. Finally, Parsec Financial Management Inc. bought a new stake in shares of Waste Management in the third quarter worth about $243,000. 75.68% of the stock is currently owned by hedge funds and other institutional investors.
WM stock traded up $0.59 during mid-day trading on Monday, reaching $98.01. The company had a trading volume of 179,806 shares, compared to its average volume of 1,759,766. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 1.53. The company has a market cap of $41.79 billion, a price-to-earnings ratio of 30.44, a P/E/G ratio of 1.77 and a beta of 0.63. Waste Management, Inc. has a 52 week low of $78.39 and a 52 week high of $97.42.
Waste Management declared that its board has authorized a share buyback plan on Thursday, December 13th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the business services provider to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of research analysts recently issued reports on WM shares. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a report on Monday, November 26th. UBS Group set a $90.00 price objective on Waste Management and gave the stock a “hold” rating in a report on Friday, October 26th. Raymond James reiterated a “buy” rating on shares of Waste Management in a report on Monday, October 29th. Oppenheimer reiterated a “buy” rating and set a $95.00 price objective on shares of Waste Management in a report on Thursday, October 25th. Finally, Goldman Sachs Group upgraded Waste Management from a “sell” rating to a “buy” rating and increased their price objective for the stock from $84.00 to $107.00 in a report on Tuesday, December 4th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $98.29.
In other Waste Management news, CFO Devina A. Rankin sold 8,107 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $94.41, for a total value of $765,381.87. Following the completion of the transaction, the chief financial officer now directly owns 21,373 shares in the company, valued at $2,017,824.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Patrick W. Gross sold 365 shares of the firm’s stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $93.03, for a total value of $33,955.95. Following the completion of the transaction, the director now owns 53,058 shares of the company’s stock, valued at $4,935,985.74. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.
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Waste Management Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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