South Texas Money Management Ltd. reduced its position in Waste Management, Inc. (NYSE:WM) by 16.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 41,655 shares of the business services provider’s stock after selling 8,140 shares during the quarter. South Texas Money Management Ltd.’s holdings in Waste Management were worth $3,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of WM. Atlantic Trust LLC lifted its stake 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 valued at $172,000 after purchasing an additional 270 shares during the period. MPS Loria Financial Planners LLC acquired a new position in shares of Waste Management in the 2nd quarter valued at $182,000. MHI Funds LLC acquired a new position in shares of Waste Management in the 4th quarter valued at $184,000. Horan Capital Advisors LLC. acquired a new position in shares of Waste Management in the 3rd quarter valued at $186,000. Finally, Cerebellum GP LLC acquired a new position in shares of Waste Management in the 4th quarter valued at $186,000. Hedge funds and other institutional investors own 75.47% of the company’s stock.
Several research firms recently issued reports on WM. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Saturday. BMO Capital Markets upped their price objective on shares of Waste Management from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Oppenheimer upped their price objective on shares of Waste Management from $82.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Credit Suisse Group set a $90.00 price objective on shares of Waste Management and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, Stifel Nicolaus restated a “buy” rating and set a $100.00 price objective on shares of Waste Management in a research report on Thursday, January 4th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $86.00.
Waste Management announced that its Board of Directors has approved a share buyback plan on Thursday, December 14th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Patrick W. Gross sold 387 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total value of $34,172.10. Following the completion of the sale, the director now directly owns 30,673 shares in the company, valued at $2,708,425.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Barry H. Caldwell sold 1,650 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $81.10, for a total transaction of $133,815.00. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
Waste Management Profile
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.
Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM).
Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.