Waste Management, Inc. (WM) Director Patrick W. Gross Sells 365 Shares of Stock

Waste Management, Inc. (NYSE:WM) Director Patrick W. Gross sold 365 shares of the firm’s stock in a transaction on Thursday, January 17th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of WM traded up $1.15 during midday trading on Friday, reaching $94.47. 2,284,202 shares of the company were exchanged, compared to its average volume of 2,080,754. The stock has a market cap of $39.52 billion, a PE ratio of 29.34, a P/E/G ratio of 1.70 and a beta of 0.65. Waste Management, Inc. has a 1-year low of $78.39 and a 1-year high of $95.49. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.87 and a quick ratio of 0.84.

Waste Management (NYSE:WM) last released its quarterly earnings results on Thursday, October 25th. The business services provider reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.04. Waste Management had a return on equity of 27.93% and a net margin of 15.60%. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.82 billion. On average, research analysts anticipate that Waste Management, Inc. will post 4.14 earnings per share for the current year.

Waste Management declared that its board has approved a stock 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 purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Several large investors have recently bought and sold shares of WM. FMR LLC increased its position in Waste Management by 11.1% during the second quarter. FMR LLC now owns 351,668 shares of the business services provider’s stock worth $28,604,000 after buying an additional 35,032 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Waste Management by 1,583.2% during the second quarter. Tower Research Capital LLC TRC now owns 8,618 shares of the business services provider’s stock valued at $701,000 after acquiring an additional 8,106 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in Waste Management by 15.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 112,038 shares of the business services provider’s stock valued at $128,000 after acquiring an additional 14,720 shares during the period. Argent Trust Co lifted its stake in shares of Waste Management by 15.2% in the second quarter. Argent Trust Co now owns 4,845 shares of the business services provider’s stock valued at $394,000 after buying an additional 640 shares during the period. Finally, Glenmede Trust Co. NA lifted its stake in shares of Waste Management by 1.8% in the second quarter. Glenmede Trust Co. NA now owns 46,277 shares of the business services provider’s stock valued at $3,765,000 after buying an additional 826 shares during the period. 74.51% of the stock is owned by institutional investors.

A number of equities research analysts have recently commented on the company. UBS Group raised Waste Management from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $103.00 in a research report on Thursday, January 10th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Monday, December 31st. Goldman Sachs Group raised Waste Management from a “sell” rating to a “buy” rating and lifted their price objective for the company from $84.00 to $107.00 in a research report on Tuesday, December 4th. Finally, Raymond James reaffirmed a “buy” rating on shares of Waste Management in a research report on Monday, October 29th. Seven equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $98.67.

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About Waste Management

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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