Meridian Wealth Management LLC reduced its position in shares of Waste Management, Inc. (NYSE:WM) by 2.6% in the 4th quarter, Holdings Channel reports. The firm owned 6,961 shares of the business services provider’s stock after selling 186 shares during the quarter. Meridian Wealth Management LLC’s holdings in Waste Management were worth $619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. We Are One Seven LLC acquired a new position in Waste Management in the 4th quarter valued at $26,000. Gantzert Investment Co. LLC ADV acquired a new position in Waste Management in the 4th quarter valued at $31,000. Essex Savings Bank acquired a new position in Waste Management in the 4th quarter valued at $37,000. Patriot Financial Group Insurance Agency LLC raised its holdings in Waste Management by 36.1% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 415 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 110 shares in the last quarter. Finally, Clean Yield Group acquired a new position in Waste Management in the 4th quarter valued at $38,000. 75.68% of the stock is owned by institutional investors and hedge funds.

WM has been the subject of several analyst reports. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a report on Monday, November 26th. UBS Group set a $90.00 price objective on Waste Management and gave the company a “hold” rating in a report on Friday, October 26th. Raymond James reaffirmed a “buy” rating on shares of Waste Management in a report on Monday, October 29th. Oppenheimer reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Waste Management in a report on Thursday, October 25th. Finally, Goldman Sachs Group raised Waste Management from a “sell” rating to a “buy” rating and lifted their price objective for the company from $84.00 to $107.00 in a report on Tuesday, December 4th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $98.29.

In other news, Director Patrick W. Gross sold 365 shares of Waste Management stock in a transaction on Thursday, January 17th. The stock was sold at an average price of $93.03, for a total value of $33,955.95. Following the transaction, the director now owns 53,058 shares in the company, valued at approximately $4,935,985.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Devina A. Rankin sold 8,107 shares of Waste Management stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $94.41, for a total value of $765,381.87. Following the completion of the transaction, the chief financial officer now owns 21,373 shares in the company, valued at approximately $2,017,824.93. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Shares of WM traded up $0.59 during midday trading on Monday, hitting $98.01. The company’s stock had a trading volume of 179,806 shares, compared to its average volume of 1,759,766. Waste Management, Inc. has a one year low of $78.39 and a one year high of $97.42. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.84 and a current ratio of 0.87. The firm has a market cap of $41.79 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 1.77 and a beta of 0.63.

Waste Management announced that its Board of Directors has authorized a share repurchase program on Thursday, December 13th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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

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