Investing in Waste Management Inc. (WM) Is Getting More Attractive

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EURN Stock
EURN Stock

In a filing, Waste Management Inc. revealed its EVP & CFO Rankin Devina A unloaded Company’s shares for reported $3.86 million on Aug 16. In the deal valued at $175.00 per share,22,082 shares were sold. As a result of this transaction, Rankin Devina A now holds 50,516 shares worth roughly $ 7.95 million.


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Then, Watson Michael J. sold 8,971 shares, generating $1,523,522 in total proceeds. Upon selling the shares at $169.83, the Sr. VP-Chief Customer Officer now owns 32,221 shares.

Before that, Morris John J sold 22,795 shares. Waste Management Inc. shares valued at $3,871,154 were divested by the EVP & Chief Operation Officer at a price of $169.82 per share. As a result of the transaction, Morris John J now holds 95,461 shares, worth roughly $15.02 million.

Jefferies upgraded its Waste Management Inc. [WM] rating to a Buy from a a Hold in a research note published on Monday, October 25, 2022; the price target was increased to $191 from $170. PT values the company’s stock at a premium of 17.62 to its Monday closing price. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in mid May from “an Underperform” to “a Neutral”. BMO Capital Markets also remained covering WM and has decreased its forecast on April 12, 2022 with a “Market perform” recommendation from previously “an Outperform” rating.

Price Performance Review of WM

On Monday, Waste Management Inc. [NYSE:WM] saw its stock jump 1.01% to $157.35. On the same session, the stock had its day’s lowest price of $155.88, but rose to a high of $157.81. Over the last five days, the stock has lost -0.64%. Waste Management Inc. shares have fallen nearly -5.72% since the year began. Nevertheless, the stocks have fallen -1.59% over the past one year. While a 52-week high of $175.98 was reached on 08/18/22, a 52-week low of $138.58 was recorded on 02/24/22. SMA at 50 days reached $163.82, while 200 days put it at $157.95. A total of 1.19 million shares were traded, compared to the trading of 0.28 million shares in the previous session.

Levels Of Support And Resistance For WM Stock

The 24-hour chart illustrates a support level at 156.22, which if violated will result in even more drops to 155.08. On the upside, there is a resistance level at 158.15. A further resistance level may holdings at 158.94. The Relative Strength Index (RSI) on the 14-day chart is 45.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.17, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.52%. Stochastics %K at 21.08% indicates the stock is a holding.

How much short interest is there in Waste Management Inc.?

A steep rise in short interest was recorded in Waste Management Inc. stocks on Jul 14, 2022, dropping by -0.33 million shares to a total of 3.24 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 3.57 million shares. There was a decline of -10.19%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.78% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.01.

Waste Management Inc. [WM] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 34,338,681 shares, or roughly 8.31% of the outstanding WM shares. In other words, the investor’s shares have risen by 602,642 from its previous 13-F filing of 33736039.0. Additionally, BlackRock Fund Advisors decreased -1.01% of its stake after which the total value it holdings stand at $3,319,068,007. Over the last quarter, SSgA Funds Management, Inc. sold -287,172 shares of Waste Management Inc., while Geode Capital Management LLC sold 85,153 shares. At present, Pictet Asset Management SA is holding 6,016,636 shares valued at $963.93 million. Columbia Management Investment Ad owned 5,848,323 shares of the company at the time of its most recent 13F filing, worth $936.96 million.

According to FactSet, Waste Management Inc.’s share price will average $174.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 8.49 percent from its previous closing price of $155.77. Analysts expect Waste Management Inc. stock to reach the higher price of $196.00, while the lowest price estimate is $161.00. However, 19 analysts have rated WM stock as an Overweight in their predictions for 2022. The most recent change occurred on April 07, 2021 when Goldman began covering the stock and recommended ‘”a Buy”‘ rating along with a $145 price target.

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