Waste Management (NYSE:WM) Price Target Raised to $240.00

Waste Management (NYSE:WM) had its price objective hoisted by investment analysts at Truist Financial from $220.00 to $240.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Truist Financial’s target price indicates a potential upside of 14.23% from the stock’s current price.

A number of other research firms also recently weighed in on WM. Morgan Stanley lifted their price target on shares of Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a research report on Friday. Jefferies Financial Group lifted their price target on shares of Waste Management from $230.00 to $256.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Stifel Nicolaus lifted their price target on shares of Waste Management from $215.00 to $227.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Finally, UBS Group downgraded shares of Waste Management from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $190.00 to $205.00 in a research report on Wednesday, February 14th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average target price of $214.21.

Waste Management Trading Down 1.2 %

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

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The company had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts forecast that Waste Management will post 6.88 earnings per share for the current year.

Insider Transactions at Waste Management

In other news, SVP Christopher P. Desantis sold 346 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $199.64, for a total transaction of $69,075.44. Following the completion of the transaction, the senior vice president now directly owns 8,218 shares in the company, valued at $1,640,641.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Charles C. Boettcher sold 3,275 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $199.49, for a total value of $653,329.75. Following the sale, the executive vice president now owns 36,403 shares of the company’s stock, valued at $7,262,034.47. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Christopher P. Desantis sold 346 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $199.64, for a total transaction of $69,075.44. Following the completion of the sale, the senior vice president now directly owns 8,218 shares in the company, valued at approximately $1,640,641.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,007 shares of company stock worth $3,696,520. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Several institutional investors have recently modified their holdings of WM. Avior Wealth Management LLC grew its stake in shares of Waste Management by 57.5% in the third quarter. Avior Wealth Management LLC now owns 1,380 shares of the business services provider’s stock worth $210,000 after purchasing an additional 504 shares during the last quarter. Oak Thistle LLC boosted its position in Waste Management by 170.7% during the third quarter. Oak Thistle LLC now owns 4,535 shares of the business services provider’s stock valued at $691,000 after acquiring an additional 2,860 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Waste Management by 0.4% during the third quarter. Asset Management One Co. Ltd. now owns 228,246 shares of the business services provider’s stock valued at $34,794,000 after acquiring an additional 995 shares during the last quarter. Spirit of America Management Corp NY boosted its position in Waste Management by 66.7% during the third quarter. Spirit of America Management Corp NY now owns 250 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 100 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Waste Management by 10.1% during the third quarter. Handelsbanken Fonder AB now owns 204,720 shares of the business services provider’s stock valued at $31,208,000 after acquiring an additional 18,828 shares during the last quarter. 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.