Waste Management (NYSE:WM) Downgraded by BMO Capital Markets

Waste Management (NYSE:WMGet Rating) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, The Fly reports. They presently have a $174.00 target price on the business services provider’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 8.93% from the company’s previous close.

Other analysts have also recently issued reports about the company. Erste Group cut Waste Management to a “hold” rating in a research note on Wednesday, February 9th. JPMorgan Chase & Co. began coverage on Waste Management in a research note on Tuesday, March 1st. They set a “neutral” rating and a $153.00 target price for the company. Finally, StockNews.com began coverage on Waste Management in a research note on Thursday, March 31st. They set a “buy” rating for the company. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Waste Management has an average rating of “Hold” and an average target price of $155.00.

Shares of WM stock opened at $159.74 on Tuesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.75 and a quick ratio of 0.72. The stock has a market cap of $66.32 billion, a PE ratio of 37.15, a price-to-earnings-growth ratio of 2.79 and a beta of 0.87. The stock has a 50-day moving average of $151.94 and a 200-day moving average of $156.46. Waste Management has a one year low of $133.73 and a one year high of $168.04.

Waste Management (NYSE:WMGet Rating) last posted its earnings results on Wednesday, February 2nd. The business services provider reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Waste Management had a return on equity of 28.14% and a net margin of 10.13%. The business had revenue of $4.68 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same period in the prior year, the business earned $1.13 EPS. Waste Management’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, research analysts anticipate that Waste Management will post 5.38 earnings per share for the current year.

In other news, CEO James C. Fish, Jr. sold 28,976 shares of the stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $158.05, for a total value of $4,579,656.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tara J. Hemmer sold 10,910 shares of the stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $142.15, for a total value of $1,550,856.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,223 shares of company stock valued at $6,180,911. Insiders own 0.16% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WM. Payden & Rygel lifted its holdings in Waste Management by 14.0% during the 1st quarter. Payden & Rygel now owns 14,700 shares of the business services provider’s stock valued at $2,330,000 after purchasing an additional 1,800 shares during the last quarter. Trinity Legacy Partners LLC lifted its holdings in Waste Management by 3.8% during the 1st quarter. Trinity Legacy Partners LLC now owns 35,755 shares of the business services provider’s stock valued at $5,667,000 after purchasing an additional 1,297 shares during the last quarter. Baldwin Brothers LLC MA lifted its holdings in Waste Management by 0.4% during the 1st quarter. Baldwin Brothers LLC MA now owns 118,645 shares of the business services provider’s stock valued at $18,805,000 after purchasing an additional 496 shares during the last quarter. Flagship Harbor Advisors LLC lifted its holdings in Waste Management by 3.3% during the 1st quarter. Flagship Harbor Advisors LLC now owns 11,604 shares of the business services provider’s stock valued at $1,839,000 after purchasing an additional 368 shares during the last quarter. Finally, Griffin Asset Management Inc. lifted its holdings in Waste Management by 3.0% during the 1st quarter. Griffin Asset Management Inc. now owns 8,274 shares of the business services provider’s stock valued at $1,311,000 after purchasing an additional 244 shares during the last quarter. 74.38% of the stock is owned by institutional investors.

Waste Management Company Profile (Get Rating)

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It offers 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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