Douglas Lane & Associates LLC lessened its position in shares of Waste Management, Inc. (NYSE:WM) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,145 shares of the business services provider’s stock after selling 425 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Waste Management were worth $636,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Legacy Financial Advisors Inc. boosted its position in Waste Management by 65.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 481 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 191 shares in the last quarter. Highwater Wealth Management LLC bought a new stake in Waste Management during the 4th quarter valued at $81,000. Almanack Investment Partners LLC. bought a new stake in Waste Management during the 3rd quarter valued at $112,000. Vigilant Capital Management LLC boosted its position in Waste Management by 200.0% during the 3rd quarter. Vigilant Capital Management LLC now owns 1,500 shares of the business services provider’s stock valued at $136,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in Waste Management by 113.8% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,518 shares of the business services provider’s stock valued at $137,000 after acquiring an additional 808 shares in the last quarter. Institutional investors own 74.76% of the company’s stock.
A number of analysts have recently weighed in on WM shares. UBS Group raised Waste Management from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $103.00 in a research report on Thursday, January 10th. Raymond James reaffirmed a “buy” rating on shares of Waste Management in a research report on Monday, October 29th. Oppenheimer reaffirmed a “buy” rating and set a $95.00 price target on shares of Waste Management in a research report on Thursday, October 25th. Goldman Sachs Group raised Waste Management from a “sell” rating to a “buy” rating and lifted their price target for the stock from $84.00 to $107.00 in a research report on Tuesday, December 4th. Finally, Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research report on Friday, December 14th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Waste Management has an average rating of “Buy” and a consensus price target of $98.29.
NYSE:WM traded up $0.53 during trading hours on Friday, hitting $97.42. 1,664,763 shares of the stock were exchanged, compared to its average volume of 1,755,892. Waste Management, Inc. has a 52-week low of $78.39 and a 52-week high of $97.42. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 1.53. The firm has a market cap of $41.53 billion, a P/E ratio of 24.85, a price-to-earnings-growth ratio of 1.78 and a beta of 0.63.
Waste Management announced that its board has authorized a share repurchase program on Thursday, December 13th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
In related news, Director Patrick W. Gross sold 365 shares of the company’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $93.03, for a total value of $33,955.95. Following the transaction, the director now directly owns 53,058 shares in the company, valued at $4,935,985.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Devina A. Rankin sold 8,107 shares of the business’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $94.41, for a total value of $765,381.87. Following the completion of the sale, the chief financial officer now directly owns 21,373 shares in the company, valued at approximately $2,017,824.93. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.
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About Waste Management
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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