Private Advisor Group LLC lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 45.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 27,779 shares of the business services provider’s stock after selling 22,909 shares during the period. Private Advisor Group LLC’s holdings in Waste Management were worth $2,442,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its holdings in Waste Management by 6.2% during the third quarter. California Public Employees Retirement System now owns 1,466,158 shares of the business services provider’s stock worth $114,756,000 after buying an additional 85,636 shares in the last quarter. Yellowstone Partners LLC purchased a new stake in Waste Management during the third quarter worth about $449,000. Personal Capital Advisors Corp boosted its holdings in Waste Management by 24.0% during the third quarter. Personal Capital Advisors Corp now owns 163,337 shares of the business services provider’s stock worth $12,784,000 after buying an additional 31,585 shares in the last quarter. Moody Lynn & Lieberson LLC boosted its holdings in Waste Management by 20.1% during the third quarter. Moody Lynn & Lieberson LLC now owns 171,716 shares of the business services provider’s stock worth $13,440,000 after buying an additional 28,760 shares in the last quarter. Finally, Lourd Capital LLC purchased a new stake in Waste Management during the fourth quarter worth about $256,000. 75.33% of the stock is currently owned by hedge funds and other institutional investors.
In other Waste Management news, Director Patrick W. Gross sold 387 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total value of $34,172.10. Following the sale, the director now owns 30,673 shares of the company’s stock, valued at $2,708,425.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Barry H. Caldwell sold 1,650 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $81.10, for a total transaction of $133,815.00. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.
Shares of Waste Management, Inc. (WM) opened at $82.60 on Thursday. Waste Management, Inc. has a fifty-two week low of $69.55 and a fifty-two week high of $89.73. The stock has a market cap of $35,870.00, a PE ratio of 26.56, a price-to-earnings-growth ratio of 2.26 and a beta of 0.70. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.71 and a quick ratio of 0.68.
Waste Management announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 14th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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Waste Management 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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