Creative Planning increased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 10.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,624 shares of the business services provider’s stock after purchasing an additional 6,652 shares during the quarter. Creative Planning’s holdings in Waste Management were worth $6,009,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Fiera Capital Corp grew its stake in shares of Waste Management by 35.3% in the second quarter. Fiera Capital Corp now owns 3,938 shares of the business services provider’s stock valued at $289,000 after buying an additional 1,028 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Waste Management by 0.3% during the 2nd quarter. ProShare Advisors LLC now owns 67,498 shares of the business services provider’s stock valued at $4,951,000 after purchasing an additional 198 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in Waste Management by 9.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 16,569 shares of the business services provider’s stock valued at $1,215,000 after purchasing an additional 1,400 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Waste Management by 1.0% during the second quarter. Van ECK Associates Corp now owns 26,614 shares of the business services provider’s stock worth $1,952,000 after buying an additional 252 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in shares of Waste Management by 6.0% during the second quarter. D.A. Davidson & CO. now owns 41,413 shares of the business services provider’s stock worth $3,037,000 after buying an additional 2,346 shares in the last quarter. 75.47% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently commented on WM shares. KeyCorp reaffirmed a “buy” rating and issued a $88.00 price target on shares of Waste Management in a research note on Friday, October 27th. Zacks Investment Research upgraded Waste Management from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. BMO Capital Markets lifted their target price on Waste Management from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Oppenheimer lifted their target price on Waste Management from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Finally, Credit Suisse Group set a $90.00 price target on Waste Management and gave the stock a “buy” rating in a report on Monday, October 30th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Waste Management presently has an average rating of “Buy” and an average price target of $86.00.
Shares of Waste Management, Inc. (WM) traded up $0.98 on Friday, reaching $80.10. The company’s stock had a trading volume of 4,937,557 shares, compared to its average volume of 2,070,000. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.68 and a current ratio of 0.71. 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 $34,780.00, a price-to-earnings ratio of 25.76, a PEG ratio of 2.25 and a beta of 0.70.
Waste Management declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 14th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, SVP Barry H. Caldwell sold 1,650 shares of the company’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 transaction of $133,815.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Patrick W. Gross sold 387 shares of the company’s stock in a transaction 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 sale, the director now 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 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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