Waste Management (NYSE:WM) PT Raised to $215.00

Waste Management (NYSE:WM) had its price target raised by research analysts at Royal Bank of Canada from $211.00 to $215.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the business services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 2.33% from the company’s current price.

Several other analysts have also commented on the stock. UBS Group lowered shares of Waste Management from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $190.00 to $205.00 in a report on Wednesday, February 14th. BMO Capital Markets raised their target price on shares of Waste Management from $184.00 to $196.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th. Jefferies Financial Group raised their target price on shares of Waste Management from $230.00 to $256.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Citigroup raised their target price on shares of Waste Management from $215.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Finally, Truist Financial raised their target price on shares of Waste Management from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.21.

Waste Management Stock Performance

Shares of 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. Waste Management has a one year low of $149.71 and a one year high of $214.54. The company has a 50-day simple moving average of $208.54 and a two-hundred day simple moving average of $187.08. The firm has a market capitalization of $84.31 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 3.23 and a beta of 0.72.

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

Insider Buying and Selling

In related news, CFO Devina A. Rankin sold 775 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 75,204 shares in the company, valued at $14,934,010.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Charles C. Boettcher sold 3,275 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $7,262,034.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Devina A. Rankin sold 775 shares of Waste Management stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total transaction of $153,899.50. Following the transaction, the chief financial officer now owns 75,204 shares in the company, valued at approximately $14,934,010.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,007 shares of company stock worth $3,696,520. 0.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC boosted its stake in shares of Waste Management by 8.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 28,912 shares of the business services provider’s stock worth $4,407,000 after acquiring an additional 2,272 shares during the last quarter. Birch Hill Investment Advisors LLC boosted its stake in shares of Waste Management by 5.5% during the 4th quarter. Birch Hill Investment Advisors LLC now owns 6,321 shares of the business services provider’s stock worth $1,132,000 after acquiring an additional 332 shares during the last quarter. Ingalls & Snyder LLC boosted its stake in shares of Waste Management by 1.0% during the 3rd quarter. Ingalls & Snyder LLC now owns 22,662 shares of the business services provider’s stock worth $3,455,000 after acquiring an additional 231 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Waste Management by 93.0% during the 4th quarter. Pacer Advisors Inc. now owns 46,613 shares of the business services provider’s stock worth $8,348,000 after acquiring an additional 22,455 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Waste Management by 13,927.7% during the 4th quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock valued at $90,319,000 after buying an additional 500,701 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

About Waste Management

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.