Spire Wealth Management Buys 1,703 Shares of Waste Management, Inc. (NYSE:WM)

Spire Wealth Management boosted its position in shares of Waste Management, Inc. (NYSE:WMFree Report) by 20.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,195 shares of the business services provider’s stock after acquiring an additional 1,703 shares during the period. Spire Wealth Management’s holdings in Waste Management were worth $1,554,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in Waste Management by 0.7% during the second quarter. State Street Corp now owns 18,113,191 shares of the business services provider’s stock valued at $3,141,190,000 after purchasing an additional 121,055 shares in the last quarter. Morgan Stanley grew its holdings in Waste Management by 30.4% during the 4th quarter. Morgan Stanley now owns 7,370,481 shares of the business services provider’s stock worth $1,156,281,000 after acquiring an additional 1,718,449 shares in the last quarter. Geode Capital Management LLC grew its holdings in Waste Management by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 7,291,991 shares of the business services provider’s stock worth $1,260,920,000 after acquiring an additional 268,736 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Waste Management by 3.2% during the fourth quarter. Lazard Asset Management LLC now owns 5,112,019 shares of the business services provider’s stock valued at $801,972,000 after buying an additional 160,466 shares during the last quarter. Finally, Parnassus Investments LLC lifted its position in shares of Waste Management by 1.2% during the second quarter. Parnassus Investments LLC now owns 4,877,214 shares of the business services provider’s stock valued at $845,806,000 after buying an additional 55,796 shares during the last quarter. Hedge funds and other institutional investors own 78.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WM. Scotiabank cut their price target on shares of Waste Management from $177.50 to $165.00 in a report on Tuesday, October 10th. Citigroup raised their price objective on shares of Waste Management from $203.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. BMO Capital Markets raised their price objective on shares of Waste Management from $160.00 to $163.00 and gave the stock a “market perform” rating in a research note on Thursday, October 26th. Stifel Nicolaus raised their price objective on shares of Waste Management from $183.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Finally, UBS Group raised shares of Waste Management from a “neutral” rating to a “buy” rating and lifted their price target for the company from $170.00 to $190.00 in a research note on Monday, October 23rd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.29.

View Our Latest Report on Waste Management

Waste Management Price Performance

Shares of NYSE WM opened at $188.20 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 2.17. Waste Management, Inc. has a twelve month low of $148.31 and a twelve month high of $188.93. The stock has a 50 day moving average of $179.08 and a two-hundred day moving average of $167.67. The stock has a market cap of $75.80 billion, a P/E ratio of 33.31, a P/E/G ratio of 2.75 and a beta of 0.70.

Insider Buying and Selling

In related news, CEO James C. Fish, Jr. sold 5,383 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $172.00, for a total transaction of $925,876.00. Following the transaction, the chief executive officer now owns 171,938 shares of the company’s stock, valued at $29,573,336. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Michael J. Watson sold 14,288 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $170.44, for a total transaction of $2,435,246.72. Following the transaction, the vice president now directly owns 41,428 shares in the company, valued at $7,060,988.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James C. Fish, Jr. sold 5,383 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $172.00, for a total value of $925,876.00. Following the transaction, the chief executive officer now owns 171,938 shares in the company, valued at $29,573,336. The disclosure for this sale can be found here. Insiders have sold 55,833 shares of company stock valued at $9,750,104 over the last quarter. Company insiders own 0.27% of the company’s stock.

Waste Management Profile

(Free Report)

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.

Further Reading

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

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