Grandview Asset Management LLC acquired a new stake in shares of Waste Management, Inc. (NYSE:WM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,943 shares of the business services provider’s stock, valued at approximately $351,000.
A number of other large investors also recently modified their holdings of WM. BlackRock Inc. increased its position in shares of Waste Management by 0.5% during the 3rd quarter. BlackRock Inc. now owns 30,633,601 shares of the business services provider’s stock valued at $2,768,051,000 after purchasing an additional 149,599 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Waste Management by 4.8% during the 3rd quarter. Wells Fargo & Company MN now owns 7,026,931 shares of the business services provider’s stock valued at $634,953,000 after purchasing an additional 322,479 shares during the last quarter. AQR Capital Management LLC increased its holdings in Waste Management by 2.4% in the 3rd quarter. AQR Capital Management LLC now owns 5,463,378 shares of the business services provider’s stock worth $493,671,000 after acquiring an additional 128,847 shares during the last quarter. Capital Research Global Investors increased its holdings in Waste Management by 407.2% in the 3rd quarter. Capital Research Global Investors now owns 3,935,751 shares of the business services provider’s stock worth $355,634,000 after acquiring an additional 3,159,827 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Waste Management by 75.4% in the 3rd quarter. American Century Companies Inc. now owns 2,564,600 shares of the business services provider’s stock worth $231,737,000 after acquiring an additional 1,102,457 shares during the last quarter. Institutional investors and hedge funds own 75.68% of the company’s stock.
WM stock opened at $98.29 on Monday. 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 stock has a market cap of $41.53 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 1.77 and a beta of 0.63. Waste Management, Inc. has a twelve month low of $78.39 and a twelve month 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 buyback $1.50 billion in shares. This buyback authorization authorizes the business services provider to buy up to 3.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
WM has been the subject of several recent research reports. Oppenheimer reissued a “buy” rating and issued a $95.00 price objective on shares of Waste Management in a report on Thursday, October 25th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a report on Friday, October 19th. Raymond James reissued a “buy” rating on shares of Waste Management in a report on Monday, October 29th. Goldman Sachs Group raised Waste Management from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $84.00 to $107.00 in a report on Tuesday, December 4th. Finally, UBS Group raised Waste Management from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $90.00 to $103.00 in a report on Thursday, January 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Waste Management has an average rating of “Buy” and an average price target of $98.29.
In other Waste Management news, CFO Devina A. Rankin sold 8,107 shares of Waste Management stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $94.41, for a total transaction of $765,381.87. Following the completion of the transaction, the chief financial officer now owns 21,373 shares of the company’s stock, valued at approximately $2,017,824.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick W. Gross sold 365 shares of Waste Management stock in a transaction dated Thursday, January 17th. The shares were 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 of the company’s stock, valued at approximately $4,935,985.74. The disclosure for this sale can be found here. 0.30% of the stock is owned by 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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