Berkshire Asset Management LLC PA raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 9.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 311,743 shares of the business services provider’s stock after purchasing an additional 27,007 shares during the period. Waste Management accounts for about 2.6% of Berkshire Asset Management LLC PA’s holdings, making the stock its 8th largest holding. Berkshire Asset Management LLC PA’s holdings in Waste Management were worth $26,903,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in WM. Janus Henderson Group PLC raised its position in Waste Management by 7,400.8% during the 2nd quarter. Janus Henderson Group PLC now owns 4,317,825 shares of the business services provider’s stock valued at $316,712,000 after purchasing an additional 4,260,260 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Waste Management by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 34,374,879 shares of the business services provider’s stock worth $2,521,397,000 after acquiring an additional 1,621,347 shares during the period. APG Asset Management N.V. grew its holdings in shares of Waste Management by 49.2% during the 3rd quarter. APG Asset Management N.V. now owns 2,417,131 shares of the business services provider’s stock worth $189,189,000 after acquiring an additional 797,192 shares during the period. Pictet Asset Management Ltd. grew its holdings in shares of Waste Management by 52.2% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,942,925 shares of the business services provider’s stock worth $152,073,000 after acquiring an additional 666,000 shares during the period. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in shares of Waste Management by 31.5% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 2,078,100 shares of the business services provider’s stock worth $162,653,000 after acquiring an additional 498,200 shares during the period. 74.93% of the stock is owned by institutional investors and hedge funds.
Waste Management, Inc. (NYSE WM) traded up $0.37 during trading on Wednesday, hitting $88.53. The company had a trading volume of 1,497,465 shares, compared to its average volume of 1,760,000. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.71 and a quick ratio of 0.68. The stock has a market cap of $38,440.00, a P/E ratio of 28.47, a P/E/G ratio of 2.65 and a beta of 0.75. Waste Management, Inc. has a 52 week low of $69.00 and a 52 week high of $88.73.
Waste Management announced that its board has authorized a stock repurchase program on Thursday, December 14th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
A number of research analysts have weighed in on WM shares. Zacks Investment Research downgraded Waste Management from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. BMO Capital Markets reiterated a “buy” rating and set a $85.00 target price on shares of Waste Management in a report on Friday, October 13th. KeyCorp reiterated a “buy” rating and set a $88.00 target price on shares of Waste Management in a report on Friday, October 27th. Macquarie upgraded Waste Management from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 3rd. Finally, Bank of America reduced their target price on Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Waste Management has a consensus rating of “Buy” and a consensus price target of $86.78.
In related news, SVP Barry H. Caldwell sold 1,650 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total value of $133,815.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.
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Waste Management Company 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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