Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Waste Management Inc. shares valued at $7,901,652 were sold by Morris John J on Apr 28. At $168.10 per share, Morris John J sold 47,006 shares. The insider’s holdings dropped to 95,461 shares worth approximately $13.83 million following the completion of this transaction.
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Also, Nagy Leslie K sold 2,668 shares, netting a total of over 452,821 in proceeds. Following the sale of shares at $169.72 each, the insider now holds 4,880 shares.
Before that, Sjoqvist Nikolaj H had sold 10,311 shares from its account. In a trade valued at $1,717,473, the SVP, Chief Digital Officer traded Waste Management Inc. shares for $166.57 each. Upon closing the transaction, the insider’s holdings decreased to 10,311 shares, worth approximately $5.62 million.
As published in a research note from BofA Securities on May 13, 2022, Waste Management Inc. [WM] has been rated up from an Underperform to a Neutral and the price target has been revised to $165 from $155. This represents a 12.18% premium over Wednesday’s closing price. Analysts at BMO Capital Markets downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in mid April. Earlier on April 07, 2021, Goldman initiated its rating. Their recommendation was “a Buy” for WM stock.
Analyzing WM’s Price Performance
On Wednesday, Waste Management Inc. [NYSE: WM] rose 0.64% to $144.91. The stock’s lowest price that day was $142.59, but it reached a high of $146.24 in the same session. During the last five days, there has been a drop of approximately -0.49%. Over the course of the year, Waste Management Inc. shares have dropped approximately -13.18%. Shares of the company reached a 52-week high of $170.18 on 04/28/22 and a 52-week low of $138.58 on 02/24/22. A 50-day SMA is recorded $156.82, while a 200-day SMA reached $156.29. Nevertheless, trading volume fell to 1.4 million shares from 1.53 million shares the previous day.
Support And Resistance Levels for Waste Management Inc. (WM)
According to the 24-hour chart, there is a support level at 142.92, which, if violated, would cause prices to drop to 140.93. In the upper region, resistance lies at 146.57. The next price resistance is at 148.23. RSI (Relative Strength Index) is 36.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -7.45, which suggests the price will decrease in the coming days. Percent R is at 71.74%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of Waste Management Inc. (WM)?
According to The Vanguard Group, Inc. filings, the company currently owns 33,736,039 shares, which is about 8.13% of the total WM shares outstanding. The investor’s shares have appreciated by 368,344 from its previous 13-F filing of 33367695.0 shares. With the completion of the buy, BlackRock Fund Advisors’s stake is now worth $3,317,463,240. Bill & Melinda Gates Foundation T reduced a 0.00% interest valued at $2.95 billion while SSgA Funds Management, Inc. sold a -975,668 stake. A total of 254,812 shares of Waste Management Inc. were sold by Geode Capital Management LLC during the quarter, and -155,552 were sold by Lazard Asset Management LLC. In its current portfolio, Columbia Management Investment Ad holds 5,898,425 shares valued at $934.96 million.
In terms of Waste Management Inc. share price expectations, FactSet research, analysts set an average price target of $174.07 in the next 12 months, up nearly 20.15% from the previous closing price of $143.99. Analysts anticipate Waste Management Inc. stock to reach $198.00 by 2022, with the lowest price target being $160.00. In spite of this, 19 analysts ranked Waste Management Inc. stock as an Overweight at the end of 2022. On February 16, 2021, Robert W. Baird assigned a price target of “a Neutral” to the stock and downgraded coverage with a $122.