AGF Investments America Inc. raised its position in shares of Waste Management, Inc. (NYSE:WM) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,782 shares of the business services provider’s stock after purchasing an additional 1,833 shares during the period. Waste Management comprises 2.2% of AGF Investments America Inc.’s portfolio, making the stock its 19th biggest position. AGF Investments America Inc.’s holdings in Waste Management were worth $5,850,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of WM. Atlantic Trust LLC raised its position in Waste Management by 7.6% during 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 in the last quarter. MPS Loria Financial Planners LLC bought a new stake in Waste Management during the 2nd quarter valued at $182,000. MHI Funds LLC bought a new stake in Waste Management during the 4th quarter valued at $184,000. Horan Capital Advisors LLC. bought a new stake in Waste Management during the 3rd quarter valued at $186,000. Finally, Cerebellum GP LLC bought a new stake in Waste Management during the 4th quarter valued at $186,000. 75.47% of the stock is owned by institutional investors and hedge funds.
In other news, Director Patrick W. Gross sold 387 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $88.30, for a total value of $34,172.10. Following the completion of the transaction, the director now directly owns 30,673 shares of the company’s stock, valued at approximately $2,708,425.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Barry H. Caldwell sold 1,650 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total value of $133,815.00. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
Waste Management declared that its Board of Directors has authorized a stock buyback program on Thursday, December 14th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts have weighed in on the company. BMO Capital Markets lifted their target price on Waste Management from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Oppenheimer lifted their target price on Waste Management from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a research report on Monday, January 8th. Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating and lifted their target price for the company from $80.00 to $95.00 in a research report on Monday, December 11th. Finally, Credit Suisse Group set a $90.00 target price on Waste Management and gave the company a “buy” rating in a research report on Monday, October 30th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Waste Management has a consensus rating of “Buy” and an average target price of $86.00.
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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.
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