Waste Management (NYSE:WM) Price Target Raised to $212.00 at BMO Capital Markets

Waste Management (NYSE:WM) had its target price lifted by equities research analysts at BMO Capital Markets from $207.00 to $212.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ price objective points to a potential upside of 0.90% from the stock’s current price.

Several other research firms have also recently commented on WM. Morgan Stanley raised their price target on Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday. Royal Bank of Canada raised their price objective on Waste Management from $211.00 to $215.00 and gave the company a “sector perform” rating in a research note on Friday. Truist Financial raised their price objective on Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Friday. Citigroup raised their price objective on Waste Management from $215.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Finally, HSBC downgraded Waste Management from a “buy” rating to a “hold” rating and set a $210.00 price objective for the company. in a research note on Thursday, February 15th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and a consensus target price of $214.21.

Waste Management Stock Down 1.2 %

WM opened at $210.10 on Friday. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.86. The business has a 50 day simple moving average of $208.54 and a 200-day simple moving average of $187.08. The stock has a market capitalization of $84.31 billion, a P/E ratio of 34.39, a P/E/G ratio of 3.23 and a beta of 0.72. Waste Management has a 12 month low of $149.71 and a 12 month high of $214.54.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.52 by $0.23. The business had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $1.31 EPS. On average, equities analysts anticipate that Waste Management will post 6.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Charles C. Boettcher sold 2,500 shares of Waste Management stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the completion of the sale, the executive vice president now owns 29,677 shares of the company’s stock, valued at $6,217,331.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Charles C. Boettcher sold 2,500 shares of Waste Management stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the completion of the sale, the executive vice president now owns 29,677 shares of the company’s stock, valued at $6,217,331.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Devina A. Rankin sold 775 shares of Waste Management stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $198.58, for a total value of $153,899.50. Following the completion of the sale, the chief financial officer now directly owns 75,204 shares of the company’s stock, valued at approximately $14,934,010.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,007 shares of company stock valued at $3,696,520. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley boosted its holdings in Waste Management by 0.7% in the third quarter. Morgan Stanley now owns 6,963,527 shares of the business services provider’s stock valued at $1,061,521,000 after acquiring an additional 46,084 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Waste Management by 16.9% in the third quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock valued at $827,815,000 after acquiring an additional 776,491 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Waste Management by 1.3% in the third quarter. Ameriprise Financial Inc. now owns 5,213,330 shares of the business services provider’s stock valued at $794,174,000 after acquiring an additional 66,816 shares during the last quarter. Parnassus Investments LLC boosted its holdings in Waste Management by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 4,799,687 shares of the business services provider’s stock valued at $859,624,000 after acquiring an additional 16,213 shares during the last quarter. Finally, Norges Bank acquired a new position in Waste Management in the fourth quarter valued at $784,486,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.