Waste Management, Inc. (NYSE:WM) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC cut its holdings in Waste Management, Inc. (NYSE:WM) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,303 shares of the business services provider’s stock after selling 289 shares during the period. Park Avenue Securities LLC’s holdings in Waste Management were worth $497,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Schroder Investment Management Group grew its stake in shares of Waste Management by 97.0% in the 2nd quarter. Schroder Investment Management Group now owns 210,343 shares of the business services provider’s stock worth $16,990,000 after purchasing an additional 103,546 shares during the last quarter. United Services Automobile Association lifted its position in Waste Management by 12.5% during the 2nd quarter. United Services Automobile Association now owns 354,133 shares of the business services provider’s stock worth $28,805,000 after buying an additional 39,432 shares in the last quarter. BTR Capital Management Inc. raised its holdings in Waste Management by 21.1% during the 3rd quarter. BTR Capital Management Inc. now owns 14,622 shares of the business services provider’s stock worth $1,321,000 after purchasing an additional 2,550 shares during the last quarter. Franklin Street Advisors Inc. NC raised its holdings in Waste Management by 1.7% during the 3rd quarter. Franklin Street Advisors Inc. NC now owns 101,403 shares of the business services provider’s stock worth $9,163,000 after purchasing an additional 1,730 shares during the last quarter. Finally, Ibex Wealth Advisors increased its stake in shares of Waste Management by 2.0% in the 3rd quarter. Ibex Wealth Advisors now owns 48,961 shares of the business services provider’s stock valued at $4,414,000 after acquiring an additional 978 shares during the last quarter. 75.68% of the stock is owned by hedge funds and other institutional investors.

Shares of WM opened at $98.56 on Thursday. Waste Management, Inc. has a 12 month low of $79.96 and a 12 month high of $98.99. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 1.53. The firm has a market cap of $42.05 billion, a PE ratio of 30.61, a price-to-earnings-growth ratio of 1.77 and a beta of 0.63.

Waste Management announced that its board has initiated a share buyback plan on Thursday, December 13th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the business services provider to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Several equities research analysts have recently commented on WM shares. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a report on Friday, October 19th. Oppenheimer reissued a “buy” rating and set a $95.00 price target on shares of Waste Management in a research note on Thursday, October 25th. UBS Group set a $90.00 target price on Waste Management and gave the stock a “hold” rating in a report on Friday, October 26th. Raymond James reissued a “buy” rating on shares of Waste Management in a research report on Monday, October 29th. Finally, Goldman Sachs Group raised Waste Management from a “sell” rating to a “buy” rating and increased their price objective for the stock from $84.00 to $107.00 in a report on Tuesday, December 4th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $98.29.

In other news, CFO Devina A. Rankin sold 8,107 shares of the business’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $94.41, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Patrick W. Gross sold 365 shares of the company’s stock in a transaction that occurred on Thursday, January 17th. The shares were 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 in the company, valued at approximately $4,935,985.74. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

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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.

Read More: Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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