California Public Employees Retirement System cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.0% in the fourth quarter, Holdings Channel reports. The fund owned 1,451,416 shares of the business services provider’s stock after selling 14,742 shares during the period. California Public Employees Retirement System’s holdings in Waste Management were worth $125,257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WM. APG Asset Management N.V. increased its position in shares of Waste Management by 74.7% during the fourth quarter. APG Asset Management N.V. now owns 4,222,539 shares of the business services provider’s stock valued at $303,469,000 after acquiring an additional 1,805,408 shares during the last quarter. Pictet Asset Management Ltd. increased its position in shares of Waste Management by 52.2% during the third quarter. Pictet Asset Management Ltd. now owns 1,942,925 shares of the business services provider’s stock valued at $152,073,000 after acquiring an additional 666,000 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its position in shares of Waste Management by 31.5% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 2,078,100 shares of the business services provider’s stock valued at $162,653,000 after acquiring an additional 498,200 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Waste Management by 41.5% during the third quarter. Principal Financial Group Inc. now owns 1,693,877 shares of the business services provider’s stock valued at $132,580,000 after acquiring an additional 496,513 shares during the last quarter. Finally, Ardevora Asset Management LLP acquired a new stake in shares of Waste Management during the third quarter valued at about $35,425,000. Institutional investors and hedge funds own 75.47% of the company’s stock.

In other news, SVP Barry H. Caldwell sold 1,650 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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. Company insiders own 0.19% of the company’s stock.

Waste Management, Inc. (NYSE:WM) opened at $80.10 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 1.60. Waste Management, Inc. has a 12 month low of $69.55 and a 12 month high of $89.73. The company has a market cap of $34,780.00, a P/E ratio of 25.76, a PEG ratio of 2.45 and a beta of 0.70.

Waste Management declared that its Board of Directors has initiated a share repurchase program on Thursday, December 14th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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

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Waste Management Company Profile

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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