Waste Management, Inc. (NYSE:WM) CEO James C. Fish, Jr. sold 2,159 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $84.08, for a total value of $181,528.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Waste Management, Inc. (NYSE WM) opened at $84.87 on Wednesday. The firm has a market capitalization of $36,850.00, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.93 and a beta of 0.70. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.77 and a current ratio of 0.80. Waste Management, Inc. has a 12-month low of $70.08 and a 12-month high of $89.73.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.57 billion. Waste Management had a return on equity of 106.37% and a net margin of 41.02%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS. equities analysts anticipate that Waste Management, Inc. will post 4.04 earnings per share for the current fiscal year.
Waste Management announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 14th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Institutional investors and hedge funds have recently made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Waste Management by 2.2% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 247,060 shares of the business services provider’s stock valued at $21,321,000 after acquiring an additional 5,244 shares during the period. Stony Point Wealth Management Inc. acquired a new stake in shares of Waste Management during the 4th quarter valued at about $531,000. Sawtooth Solutions LLC acquired a new stake in shares of Waste Management during the 4th quarter valued at about $233,000. OLD Mutual Customised Solutions Proprietary Ltd. grew its position in shares of Waste Management by 45.1% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 25,728 shares of the business services provider’s stock valued at $2,220,000 after acquiring an additional 8,000 shares during the period. Finally, WealthPLAN Partners LLC acquired a new stake in shares of Waste Management during the 4th quarter valued at about $201,000. 75.70% of the stock is currently owned by institutional investors.
A number of equities analysts recently issued reports on the company. Raymond James Financial upgraded Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 target price for the company in a research note on Friday, February 16th. UBS Group upgraded Waste Management from a “market perform” rating to an “outperform” rating in a research note on Friday, February 16th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Saturday, February 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price target on shares of Waste Management in a research report on Thursday, January 4th. Finally, Macquarie raised Waste Management from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 3rd. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $86.90.
About Waste Management
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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