Waste Management, Inc. (NYSE:WM) Director Patrick W. Gross sold 387 shares of the business’s stock in a transaction dated 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 sale, the director now owns 30,673 shares in the company, valued at $2,708,425.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Waste Management, Inc. (WM) traded up $0.98 during trading on Friday, reaching $80.10. 4,937,557 shares of the company’s stock traded hands, compared to its average volume of 2,070,000. Waste Management, Inc. has a 12 month low of $69.55 and a 12 month high of $89.73. The stock has a market cap of $34,780.00, a PE ratio of 25.76, a price-to-earnings-growth ratio of 2.25 and a beta of 0.70. 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 announced that its Board of Directors has authorized a stock repurchase program 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. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
WM has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $96.00 price target 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 lifted their price target for the stock from $80.00 to $95.00 in a research note on Monday, December 11th. Macquarie raised shares of Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. KeyCorp reissued a “buy” rating and issued a $88.00 price objective on shares of Waste Management in a research report on Friday, October 27th. Finally, Credit Suisse Group set a $90.00 price objective on shares of Waste Management and gave the company a “buy” rating in a research report on Monday, October 30th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $86.00.
Institutional investors and hedge funds have recently made changes to their positions in the company. FTB Advisors Inc. lifted its position in shares of Waste Management by 4.3% in the 2nd quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock worth $116,000 after purchasing an additional 65 shares during the period. Atlantic Trust LLC lifted its position in shares of Waste Management by 7.6% in the 2nd quarter. Atlantic Trust LLC now owns 3,820 shares of the business services provider’s stock worth $172,000 after purchasing an additional 270 shares during the period. MPS Loria Financial Planners LLC purchased a new stake in shares of Waste Management in the 2nd quarter worth approximately $182,000. MHI Funds LLC purchased a new stake in shares of Waste Management in the 4th quarter worth approximately $184,000. Finally, Horan Capital Advisors LLC. bought a new position in shares of Waste Management during the 3rd quarter worth approximately $186,000. 75.47% of the stock is owned by hedge funds and other institutional investors.
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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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