Investors Sell Waste Management (WM) on Strength (WM)

Investors sold shares of Waste Management, Inc. (NYSE:WM) on strength during trading on Tuesday. $37.37 million flowed into the stock on the tick-up and $78.43 million flowed out of the stock on the tick-down, for a money net flow of $41.06 million out of the stock. Of all equities tracked, Waste Management had the 18th highest net out-flow for the day. Waste Management traded up $0.41 for the day and closed at $94.88

WM has been the subject of a number of analyst reports. Oppenheimer reaffirmed a “buy” rating and issued a $95.00 price target on shares of Waste Management in a research note on Thursday, October 25th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research note on Friday, October 19th. Raymond James reaffirmed a “buy” rating on shares of Waste Management in a research note on Monday, October 29th. Goldman Sachs Group raised Waste Management from a “sell” rating to a “buy” rating and boosted their price target for the company from $84.00 to $107.00 in a research note on Tuesday, December 4th. Finally, UBS Group raised Waste Management from a “neutral” rating to a “buy” rating and boosted their price target for the company from $90.00 to $103.00 in a research note on Thursday, January 10th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Waste Management has an average rating of “Buy” and a consensus target price of $98.67.

The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $40.28 billion, a P/E ratio of 29.47, a PEG ratio of 1.73 and a beta of 0.65.

Waste Management (NYSE:WM) last issued its 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. The firm had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.82 billion. Waste Management had a return on equity of 27.93% and a net margin of 15.60%. As a group, equities research analysts anticipate that Waste Management, Inc. will post 4.14 earnings per share for the current fiscal year.

Waste Management declared that its Board of Directors has approved a stock buyback program on Thursday, December 13th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the business services provider to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

In other news, VP Jeff M. Harris sold 24,500 shares of the business’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $90.00, for a total transaction of $2,205,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Patrick W. Gross sold 365 shares of the business’s stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $93.03, for a total value of $33,955.95. Following the sale, the director now owns 53,058 shares in the company, valued at $4,935,985.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,972 shares of company stock valued at $3,004,338. Insiders own 0.30% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Legacy Financial Advisors Inc. grew its holdings in shares of Waste Management by 65.9% during the fourth quarter. Legacy Financial Advisors Inc. now owns 481 shares of the business services provider’s stock worth $43,000 after purchasing an additional 191 shares during the last quarter. Highwater Wealth Management LLC bought a new stake in Waste Management in the fourth quarter valued at approximately $81,000. Almanack Investment Partners LLC. bought a new stake in Waste Management in the third quarter valued at approximately $112,000. Vigilant Capital Management LLC boosted its holdings in Waste Management by 200.0% in the third quarter. Vigilant Capital Management LLC now owns 1,500 shares of the business services provider’s stock valued at $136,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in Waste Management by 113.8% in the third quarter. Rockefeller Capital Management L.P. now owns 1,518 shares of the business services provider’s stock valued at $137,000 after acquiring an additional 808 shares during the last quarter. Institutional investors own 74.75% of the company’s stock.

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Waste Management Company Profile (NYSE:WM)

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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