Waste Management Target of Unusually High Options Trading (WM)

Waste Management, Inc. (NYSE:WM) saw unusually large options trading activity on Tuesday. Stock investors purchased 21,117 call options on the company. This represents an increase of approximately 1,863% compared to the average daily volume of 1,076 call options.

A number of research analysts recently issued reports on WM shares. Zacks Investment Research upgraded shares of Waste Management from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price target on shares of Waste Management in a research note on Friday, October 13th. KeyCorp reiterated a “buy” rating and issued a $88.00 price target on shares of Waste Management in a research note on Friday, October 27th. Macquarie upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price target on shares of Waste Management in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Waste Management currently has a consensus rating of “Buy” and an average target price of $86.78.

In related news, SVP Barry H. Caldwell sold 1,650 shares of Waste Management stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $81.10, for a total value of $133,815.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick W. Gross sold 387 shares of Waste Management stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $88.30, for a total transaction of $34,172.10. Following the completion of the transaction, the director now owns 30,673 shares of the company’s stock, valued at approximately $2,708,425.90. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in shares of Waste Management by 1.4% during the 3rd quarter. Wells Fargo & Company MN now owns 7,277,527 shares of the business services provider’s stock worth $569,612,000 after buying an additional 103,234 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Waste Management by 8.5% during the 3rd quarter. Janus Henderson Group PLC now owns 4,684,275 shares of the business services provider’s stock worth $366,641,000 after buying an additional 366,450 shares during the last quarter. APG Asset Management N.V. lifted its position in shares of Waste Management by 74.7% during the 4th quarter. APG Asset Management N.V. now owns 4,222,539 shares of the business services provider’s stock worth $303,469,000 after buying an additional 1,805,408 shares during the last quarter. Swiss National Bank lifted its position in shares of Waste Management by 1.2% during the 4th quarter. Swiss National Bank now owns 2,466,803 shares of the business services provider’s stock worth $212,885,000 after buying an additional 28,100 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Waste Management by 2.8% in the 3rd quarter. Legal & General Group Plc now owns 2,399,990 shares of the business services provider’s stock valued at $187,855,000 after purchasing an additional 64,680 shares during the last quarter. Institutional investors and hedge funds own 75.47% of the company’s stock.

Shares of Waste Management (NYSE WM) opened at $79.12 on Friday. The firm has a market cap of $34,360.00, a P/E ratio of 25.44, a PEG ratio of 2.45 and a beta of 0.70. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 1.60. Waste Management has a 12-month low of $69.55 and a 12-month high of $89.73.

Waste Management announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 14th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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About Waste Management

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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