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 $3,864,350 were sold by Rankin Devina A on Aug 16. At $175.00 per share, Rankin Devina A sold 22,082 shares. The insider’s holdings dropped to 50,516 shares worth approximately $8.53 million following the completion of this transaction.
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Also, Watson Michael J. sold 8,971 shares, netting a total of over 1,523,522 in proceeds. Following the sale of shares at $169.83 each, the insider now holds 32,221 shares.
Before that, Morris John J had sold 22,795 shares from its account. In a trade valued at $3,871,154, the EVP & Chief Operation Officer traded Waste Management Inc. shares for $169.82 each. Upon closing the transaction, the insider’s holdings decreased to 22,795 shares, worth approximately $16.12 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 -2.36% 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] plunged -0.48% to $168.89. The stock’s lowest price that day was $168.89, but it reached a high of $173.13 in the same session. During the last five days, there has been a drop of approximately -1.65%. Over the course of the year, Waste Management Inc. shares have jumped approximately 1.19%. Shares of the company reached a 52-week high of $175.98 on 08/18/22 and a 52-week low of $138.58 on 02/24/22. A 50-day SMA is recorded $166.89, while a 200-day SMA reached $158.17. Nevertheless, trading volume fell to 1.53 million shares from 1.78 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 167.48, which, if violated, would cause prices to drop to 166.06. In the upper region, resistance lies at 171.72. The next price resistance is at 174.54. RSI (Relative Strength Index) is 46.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.23, which suggests the price will decrease in the coming days. Percent R is at 84.40%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Waste Management Inc. subject to short interest?
Stocks of Waste Management Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.33 million shares to 3.24 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.57 million shares. A decline of -10.19% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.01 of the overall float, the days-to-cover ratio (short ratio) decline to 2.01.
Which companies own the most shares of Waste Management Inc. (WM)?
According to The Vanguard Group, Inc. filings, the company currently owns 34,338,681 shares, which is about 8.31% of the total WM shares outstanding. The investor’s shares have appreciated by 602,642 from its previous 13-F filing of 33736039.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $3,501,791,806. A total of 85,153 shares of Waste Management Inc. were sold by Geode Capital Management LLC during the quarter, and 1,433,420 were bought by Pictet Asset Management SA. In its current portfolio, Columbia Management Investment Ad holds 5,848,323 shares valued at $988.54 million.
In terms of Waste Management Inc. share price expectations, FactSet research, analysts set an average price target of $172.94 in the next 12 months, up nearly 0.18% from the previous closing price of $169.70. Analysts anticipate Waste Management Inc. stock to reach $198.00 by 2022, with the lowest price target being $163.00. In spite of this, 20 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.