Grandview Asset Management LLC bought a new position in Waste Management, Inc. (NYSE:WM) in the fourth quarter, Holdings Channel reports. The institutional investor bought 3,943 shares of the business services provider’s stock, valued at approximately $351,000.
Other large investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in Waste Management by 407.2% in the 3rd quarter. Capital Research Global Investors now owns 3,935,751 shares of the business services provider’s stock worth $355,634,000 after purchasing an additional 3,159,827 shares during the period. American Century Companies Inc. increased its stake in Waste Management by 75.4% in the 3rd quarter. American Century Companies Inc. now owns 2,564,600 shares of the business services provider’s stock worth $231,737,000 after purchasing an additional 1,102,457 shares during the period. Hexavest Inc. purchased a new position in Waste Management in the 4th quarter worth approximately $53,937,000. Glenmede Trust Co. NA increased its stake in Waste Management by 822.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 426,909 shares of the business services provider’s stock worth $38,575,000 after purchasing an additional 380,632 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Waste Management by 4.8% in the 3rd quarter. Wells Fargo & Company MN now owns 7,026,931 shares of the business services provider’s stock worth $634,953,000 after purchasing an additional 322,479 shares during the period. Institutional investors own 75.68% of the company’s stock.
WM opened at $98.29 on Monday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.84 and a current ratio of 0.87. Waste Management, Inc. has a 52-week low of $78.39 and a 52-week high of $97.42. The company has a market cap of $41.53 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 1.77 and a beta of 0.63.
In other news, Director Patrick W. Gross sold 365 shares of the business’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $93.03, for a total transaction of $33,955.95. Following the transaction, the director now directly owns 53,058 shares of the company’s stock, valued at $4,935,985.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Devina A. Rankin sold 8,107 shares of the business’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $94.41, for a total value of $765,381.87. Following the transaction, the chief financial officer now directly owns 21,373 shares in the company, valued at $2,017,824.93. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.
A number of brokerages have commented on WM. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Monday, December 31st. UBS Group set a $90.00 price target on Waste Management and gave the stock a “hold” rating in a research note on Friday, October 26th. Finally, KeyCorp began coverage on Waste Management in a research note on Monday, February 4th. They issued an “overweight” rating and a $96.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $98.29.
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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 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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