First National Bank of Omaha acquired a new position in Waste Management, Inc. (NYSE:WM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 44,068 shares of the business services provider’s stock, valued at approximately $3,803,000.
A number of other institutional investors have also added to or reduced their stakes in WM. Monument Capital Management bought a new stake in Waste Management in the fourth quarter valued at $2,512,000. Crossmark Global Holdings Inc. lifted its stake in Waste Management by 5.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 85,126 shares of the business services provider’s stock valued at $7,346,000 after buying an additional 4,068 shares during the last quarter. Stoneridge Investment Partners LLC bought a new stake in Waste Management in the fourth quarter valued at $785,000. Stephens Inc. AR lifted its stake in Waste Management by 3.3% in the fourth quarter. Stephens Inc. AR now owns 154,148 shares of the business services provider’s stock valued at $13,303,000 after buying an additional 4,917 shares during the last quarter. Finally, Calton & Associates Inc. bought a new stake in Waste Management in the fourth quarter valued at $893,000. 75.47% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have issued reports on WM. Macquarie upgraded Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. BMO Capital Markets raised their target price on Waste Management from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. Stifel Nicolaus upgraded Waste Management from a “hold” rating to a “buy” rating and raised their target price for the company from $80.00 to $95.00 in a research note on Monday, December 11th. Finally, KeyCorp reiterated a “buy” rating and issued a $88.00 target price on shares of Waste Management in a research note on Friday, October 27th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Waste Management currently has a consensus rating of “Buy” and an average price target of $86.78.
Shares of Waste Management, Inc. (NYSE:WM) opened at $79.12 on Friday. Waste Management, Inc. has a one year low of $69.55 and a one year high of $89.73. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 1.60. The firm has a market cap of $35,488.49, a PE ratio of 26.20, a P/E/G ratio of 2.45 and a beta of 0.70.
Waste Management declared that its board has initiated a share repurchase program on Thursday, December 14th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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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