Spectrum Management Group Inc. Increases Stake in Waste Management, Inc. (WM)

Spectrum Management Group Inc. grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 7.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,245 shares of the business services provider’s stock after buying an additional 1,005 shares during the period. Spectrum Management Group Inc.’s holdings in Waste Management were worth $1,316,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WM. Swiss National Bank boosted its stake in Waste Management by 1.2% in the 4th quarter. Swiss National Bank now owns 2,466,803 shares of the business services provider’s stock worth $212,885,000 after purchasing an additional 28,100 shares in the last quarter. Buckhead Capital Management LLC boosted its stake in Waste Management by 9.6% in the 4th quarter. Buckhead Capital Management LLC now owns 11,965 shares of the business services provider’s stock worth $1,033,000 after purchasing an additional 1,050 shares in the last quarter. Chilton Investment Co. LLC boosted its stake in Waste Management by 377.7% in the 4th quarter. Chilton Investment Co. LLC now owns 18,786 shares of the business services provider’s stock worth $1,621,000 after purchasing an additional 14,853 shares in the last quarter. Cognios Capital LLC boosted its stake in Waste Management by 3.0% in the 4th quarter. Cognios Capital LLC now owns 23,928 shares of the business services provider’s stock worth $2,063,000 after purchasing an additional 696 shares in the last quarter. Finally, Pettee Investors Inc. boosted its stake in Waste Management by 4.6% in the 4th quarter. Pettee Investors Inc. now owns 17,156 shares of the business services provider’s stock worth $1,481,000 after purchasing an additional 760 shares in the last quarter. Hedge funds and other institutional investors own 75.47% of the company’s stock.

In other Waste Management news, Director Patrick W. Gross sold 387 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $88.30, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Barry H. Caldwell sold 1,650 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total value of $133,815.00. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Waste Management, Inc. (NYSE:WM) opened at $80.10 on Friday. Waste Management, Inc. has a 52-week low of $69.55 and a 52-week high of $89.73. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.71 and a quick ratio of 0.68. The firm has a market capitalization of $34,355.19, a PE ratio of 25.84, a price-to-earnings-growth ratio of 2.22 and a beta of 0.70.

Waste Management declared that its Board of Directors has authorized a share buyback program on Thursday, December 14th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

A number of equities analysts recently issued reports on WM shares. Zacks Investment Research cut shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Credit Suisse Group set a $90.00 price target on shares of Waste Management and gave the stock a “buy” rating in a research note on Monday, October 30th. Oppenheimer upped their price target on shares of Waste Management from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. KeyCorp upped their price target on shares of Waste Management from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. Finally, 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. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $86.78.

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

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