JGP Wealth Management LLC trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,411 shares of the business services provider’s stock after selling 163 shares during the period. JGP Wealth Management LLC’s holdings in Waste Management were worth $1,015,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC lifted its stake in Waste Management by 11.1% in the 2nd quarter. FMR LLC now owns 351,668 shares of the business services provider’s stock worth $28,604,000 after acquiring an additional 35,032 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Waste Management by 1,583.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,618 shares of the business services provider’s stock valued at $701,000 after buying an additional 8,106 shares during the last quarter. Argent Trust Co grew its holdings in shares of Waste Management by 15.2% during the 2nd quarter. Argent Trust Co now owns 4,845 shares of the business services provider’s stock worth $394,000 after purchasing an additional 640 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Waste Management by 1.8% during the 2nd quarter. Glenmede Trust Co. NA now owns 46,277 shares of the business services provider’s stock worth $3,765,000 after purchasing an additional 826 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of Waste Management by 97.0% during the 2nd quarter. Schroder Investment Management Group now owns 210,343 shares of the business services provider’s stock worth $16,990,000 after purchasing an additional 103,546 shares in the last quarter. 74.75% of the stock is currently owned by institutional investors.
Shares of WM stock traded up $0.68 during mid-day trading on Friday, hitting $95.09. The company’s stock had a trading volume of 173,857 shares, compared to its average volume of 2,012,776. Waste Management, Inc. has a 52 week low of $78.39 and a 52 week high of $95.49. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 1.53. The firm has a market cap of $40.45 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 1.74 and a beta of 0.65.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, October 25th. The business services provider reported $1.15 earnings per share 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 firm had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.82 billion. On average, analysts forecast that Waste Management, Inc. will post 4.14 earnings per share for the current year.
Waste Management announced that its Board of Directors has approved a stock buyback plan on Thursday, December 13th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the business services provider to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts have recently weighed in on the company. Raymond James restated a “buy” rating on shares of Waste Management in a research report on Monday, October 29th. UBS Group upgraded Waste Management from a “neutral” rating to a “buy” rating and upped their target price for the stock from $90.00 to $103.00 in a report on Thursday, January 10th. Oppenheimer reiterated a “buy” rating and set a $95.00 target price on shares of Waste Management in a report on Thursday, October 25th. Goldman Sachs Group upgraded Waste Management from a “sell” rating to a “buy” rating and upped their target price for the stock from $84.00 to $107.00 in a report on Tuesday, December 4th. Finally, Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Friday, December 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Waste Management has an average rating of “Buy” and an average price target of $98.67.
In other news, VP Jeff M. Harris sold 24,500 shares of the firm’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $90.00, for a total value of $2,205,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Devina A. Rankin sold 8,107 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $94.41, for a total value of $765,381.87. Following the completion of the sale, the chief financial officer now owns 21,373 shares of the company’s stock, valued at $2,017,824.93. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,972 shares of company stock valued at $3,004,338. 0.30% of the stock is currently owned by company insiders.
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Waste Management Profile
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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