Investment analysts at UBS Group began coverage on shares of Waste Management (NYSE:WM) in a report released on Wednesday, The Fly reports. The firm set a “neutral” rating on the business services provider’s stock.
Other equities research analysts also recently issued research reports about the stock. Macquarie upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. Raymond James Financial upgraded shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research note on Friday, February 16th. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Saturday, February 10th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price target on shares of Waste Management in a research note on Thursday, January 4th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $90.13.
Shares of Waste Management (NYSE WM) traded down $0.25 during mid-day trading on Wednesday, reaching $86.41. The company’s stock had a trading volume of 2,195,671 shares, compared to its average volume of 2,441,033. Waste Management has a one year low of $70.08 and a one year high of $89.73. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.77 and a current ratio of 0.80. The firm has a market capitalization of $37,440.00, a P/E ratio of 14.95, a PEG ratio of 1.96 and a beta of 0.70.
Waste Management declared that its Board of Directors has initiated a share buyback plan on Thursday, December 14th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In other Waste Management news, CEO James C. Fish, Jr. sold 2,159 shares of Waste Management stock in a transaction on Friday, February 16th. The stock was sold at an average price of $84.08, for a total transaction of $181,528.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick W. Gross sold 387 shares of Waste Management stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total value of $34,172.10. Following the transaction, the director now directly owns 30,673 shares of the company’s stock, valued at $2,708,425.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,291 shares of company stock valued at $9,154,833. Company insiders own 0.19% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the business. California Public Employees Retirement System raised its holdings in shares of Waste Management by 6.2% in the third quarter. California Public Employees Retirement System now owns 1,466,158 shares of the business services provider’s stock valued at $114,756,000 after buying an additional 85,636 shares during the last quarter. Yellowstone Partners LLC bought a new position in shares of Waste Management in the third quarter valued at about $449,000. Lourd Capital LLC bought a new position in shares of Waste Management in the fourth quarter valued at about $256,000. Wesbanco Bank Inc. bought a new position in shares of Waste Management in the fourth quarter valued at about $215,000. Finally, First National Trust Co raised its holdings in shares of Waste Management by 19.8% in the fourth quarter. First National Trust Co now owns 18,600 shares of the business services provider’s stock valued at $1,606,000 after buying an additional 3,073 shares during the last quarter. 76.76% of the stock is owned by 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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