Waste Management, Inc. (NYSE:WM) CAO Leslie K. Nagy sold 392 shares of Waste Management stock in a transaction on Friday, February 19th. The stock was sold at an average price of $111.33, for a total transaction of $43,641.36. Following the transaction, the chief accounting officer now directly owns 4,891 shares of the company's stock, valued at approximately $544,515.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NYSE WM opened at $110.56 on Tuesday. The stock has a market cap of $46.72 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 4.70 and a beta of 0.72. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.86 and a current ratio of 0.88. Waste Management, Inc. has a fifty-two week low of $85.34 and a fifty-two week high of $125.76. The firm's 50-day simple moving average is $114.21 and its 200 day simple moving average is $115.01.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, February 18th. The business services provider reported $1.13 earnings per share for the quarter, beating the Zacks' consensus estimate of $1.07 by $0.06. Waste Management had a return on equity of 25.84% and a net margin of 10.66%. On average, sell-side analysts predict that Waste Management, Inc. will post 3.84 EPS for the current year.
Waste Management announced that its Board of Directors has approved a stock buyback plan on Monday, December 14th that permits the company to repurchase $1.35 billion in shares. This repurchase authorization permits the business services provider to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.
WM has been the subject of a number of recent analyst reports. Morgan Stanley increased their price target on Waste Management from $121.00 to $122.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 6th. Deutsche Bank Aktiengesellschaft raised their target price on Waste Management from $111.00 to $119.00 and gave the stock a "hold" rating in a research note on Wednesday, November 4th. Bank of America downgraded shares of Waste Management from a "neutral" rating to an "underperform" rating and set a $116.00 price objective for the company. in a research report on Tuesday, October 27th. Oppenheimer increased their target price on shares of Waste Management from $123.00 to $128.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 3rd. Finally, Raymond James lifted their price target on shares of Waste Management from $120.00 to $131.00 and gave the company an "outperform" rating in a research note on Thursday, January 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. The company currently has a consensus rating of "Hold" and a consensus price target of $117.57.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its position in Waste Management by 0.3% in the 3rd quarter. State Street Corp now owns 20,460,028 shares of the business services provider's stock worth $2,315,461,000 after purchasing an additional 68,851 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Waste Management by 8.1% in the 4th quarter. Wells Fargo & Company MN now owns 6,350,430 shares of the business services provider's stock worth $748,906,000 after buying an additional 477,574 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Waste Management by 31.2% in the fourth quarter. Lazard Asset Management LLC now owns 6,035,616 shares of the business services provider's stock valued at $711,778,000 after acquiring an additional 1,436,679 shares in the last quarter. Parnassus Investments CA increased its position in shares of Waste Management by 0.4% during the fourth quarter. Parnassus Investments CA now owns 5,928,171 shares of the business services provider's stock valued at $699,109,000 after acquiring an additional 22,757 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Waste Management by 2.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,564,063 shares of the business services provider's stock worth $420,310,000 after acquiring an additional 79,781 shares during the period. 71.42% of the stock is currently owned by institutional investors.
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 offers 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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