RobecoSam USA Inc. boosted its position in Waste Management, Inc. (NYSE:WM) by 4.1% during the third quarter, Holdings Channel reports. The institutional investor owned 42,592 shares of the company’s stock after buying an additional 1,672 shares during the period. Waste Management comprises 3.2% of RobecoSam USA Inc.’s portfolio, making the stock its 10th largest position. RobecoSam USA Inc.’s holdings in Waste Management were worth $2,716,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in WM. Whittier Trust Co. boosted its stake in Waste Management by 11.2% in the second quarter. Whittier Trust Co. now owns 4,225 shares of the company’s stock worth $280,000 after buying an additional 425 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Waste Management by 4.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 6,946 shares of the company’s stock worth $460,000 after buying an additional 325 shares during the last quarter. Spectrum Management Group Inc. boosted its stake in Waste Management by 213.1% in the second quarter. Spectrum Management Group Inc. now owns 5,385 shares of the company’s stock worth $357,000 after buying an additional 3,665 shares during the last quarter. Cypress Capital Management LLC WY bought a new stake in Waste Management during the second quarter worth approximately $214,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in Waste Management during the second quarter worth approximately $254,000. 74.08% of the stock is owned by institutional investors and hedge funds.
Shares of Waste Management, Inc. (NYSE:WM) opened at 69.65 on Monday. Waste Management, Inc. has a 12 month low of $51.68 and a 12 month high of $71.78. The firm has a 50-day moving average of $70.09 and a 200 day moving average of $66.63. The company has a market cap of $30.79 billion, a price-to-earnings ratio of 27.95 and a beta of 0.70.
A number of equities research analysts have commented on the stock. Vetr upgraded shares of Waste Management from a “sell” rating to a “hold” rating and set a $72.12 price target for the company in a report on Tuesday, January 3rd. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Waste Management in a report on Tuesday, November 1st. They set a “sell” rating and a $63.00 price objective for the company. Bank of America Corporation upgraded shares of Waste Management from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Monday, October 31st. Barclays PLC upgraded shares of Waste Management from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $63.37 to $70.00 in a report on Monday, November 7th. Finally, Wedbush cut shares of Waste Management from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $73.00 to $68.00 in a report on Thursday, October 13th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $69.55.
In related news, Director Frank M. Clark sold 433 shares of the stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $69.59, for a total value of $30,132.47. Following the completion of the transaction, the director now directly owns 29,635 shares in the company, valued at approximately $2,062,299.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Patrick W. Gross sold 466 shares of the stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $69.26, for a total transaction of $32,275.16. Following the completion of the transaction, the director now owns 22,643 shares of the company’s stock, valued at $1,568,254.18. The disclosure for this sale can be found here. Insiders sold a total of 1,332 shares of company stock valued at $92,466 over the last 90 days. Company insiders own 0.42% of the company’s stock.
About Waste Management
Waste Management, Inc is a holding company. The Company provides waste management environmental services. The Company’s segments include Solid Waste, which includes its 17 Areas aggregated into three tiers, and Other. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focuses on geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services.
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