Synovus Financial Corp lowered its stake in Waste Management, Inc. (NYSE:WM) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 144,324 shares of the business services provider’s stock after selling 451 shares during the period. Synovus Financial Corp’s holdings in Waste Management were worth $16,444,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in WM. Sunbelt Securities Inc. purchased a new position in Waste Management during the 3rd quarter valued at about $508,000. Private Asset Management Inc. increased its holdings in Waste Management by 4.6% during the 4th quarter. Private Asset Management Inc. now owns 2,266 shares of the business services provider’s stock valued at $258,000 after purchasing an additional 100 shares during the period. Great Lakes Advisors LLC increased its holdings in Waste Management by 10.5% during the 3rd quarter. Great Lakes Advisors LLC now owns 56,222 shares of the business services provider’s stock valued at $6,466,000 after purchasing an additional 5,361 shares during the period. Greystone Managed Investments Inc. increased its holdings in Waste Management by 12.5% during the 3rd quarter. Greystone Managed Investments Inc. now owns 75,067 shares of the business services provider’s stock valued at $8,633,000 after purchasing an additional 8,341 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Waste Management during the 4th quarter valued at about $375,000. Hedge funds and other institutional investors own 72.65% of the company’s stock.
Shares of WM traded up $1.52 during mid-day trading on Friday, reaching $125.75. The company had a trading volume of 1,296,544 shares, compared to its average volume of 1,551,703. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.82 and a current ratio of 1.86. The firm has a 50-day moving average price of $119.25 and a 200 day moving average price of $115.78. Waste Management, Inc. has a 52 week low of $97.22 and a 52 week high of $125.64. The company has a market capitalization of $52.42 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 3.25 and a beta of 0.60.
In other news, SVP Tara J. Hmmer sold 4,639 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $110.36, for a total value of $511,960.04. Following the sale, the senior vice president now directly owns 25,405 shares of the company’s stock, valued at approximately $2,803,695.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frank M. Clark sold 267 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $119.69, for a total value of $31,957.23. Following the completion of the sale, the director now directly owns 32,396 shares in the company, valued at $3,877,477.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,906 shares of company stock worth $655,917. Insiders own 0.14% of the company’s stock.
A number of research analysts have weighed in on the company. Stifel Nicolaus set a $125.00 target price on Waste Management and gave the stock a “buy” rating in a report on Monday, October 21st. CIBC assumed coverage on Waste Management in a report on Tuesday, December 17th. They set an “outperform” rating and a $130.00 target price on the stock. Bank of America downgraded Waste Management from a “buy” rating to a “neutral” rating in a report on Friday, October 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $138.00 target price on shares of Waste Management in a report on Friday. Finally, Jefferies Financial Group assumed coverage on Waste Management in a report on Wednesday, November 27th. They set a “hold” rating and a $120.00 target price on the stock. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Waste Management currently has an average rating of “Buy” and an average target price of $123.85.
Waste Management Company Profile
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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