Waste Management (NYSE:WM) PT Raised to $228.00 at Oppenheimer

Waste Management (NYSE:WM) had its target price upped by stock analysts at Oppenheimer from $221.00 to $228.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price objective would suggest a potential upside of 8.52% from the company’s current price.

Several other research firms have also issued reports on WM. Jefferies Financial Group boosted 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. HSBC cut shares of 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. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. BMO Capital Markets boosted their price objective on shares of Waste Management from $207.00 to $212.00 and gave the company a “market perform” rating in a research note on Friday. Finally, Truist Financial boosted their price objective on shares of Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Friday. Eight investment 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 company. According to data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $214.21.

Waste Management Stock Performance

NYSE WM opened at $210.10 on Friday. The company’s 50 day moving average is $208.54 and its 200-day moving average is $187.08. Waste Management has a 12-month low of $149.71 and a 12-month high of $214.54. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. The firm has a market cap of $84.31 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 3.23 and a beta of 0.72.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Waste Management will post 6.88 earnings per share for the current year.

Insider Activity

In other news, VP Donald J. Smith sold 329 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $198.56, for a total value of $65,326.24. Following the completion of the sale, the vice president now owns 5,522 shares of the company’s stock, valued at approximately $1,096,448.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Tara J. Hemmer sold 1,782 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $204.23, for a total transaction of $363,937.86. Following the completion of the sale, the senior vice president now directly owns 55,591 shares in the company, valued at approximately $11,353,349.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Donald J. Smith sold 329 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $198.56, for a total transaction of $65,326.24. Following the sale, the vice president now owns 5,522 shares of the company’s stock, valued at $1,096,448.32. The disclosure for this sale can be found here. In 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 added to or reduced their stakes in WM. Norges Bank bought a new stake in Waste Management during the 4th quarter valued at $784,486,000. abrdn plc raised its holdings in Waste Management by 315.7% during the 3rd quarter. abrdn plc now owns 1,457,393 shares of the business services provider’s stock valued at $222,165,000 after buying an additional 1,106,773 shares during the last quarter. Mirova US LLC raised its holdings in Waste Management by 26,116.4% during the 4th quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock valued at $163,680,000 after buying an additional 910,418 shares during the last quarter. Capital World Investors raised its holdings in Waste Management by 40.6% in the 4th quarter. Capital World Investors now owns 2,923,403 shares of the business services provider’s stock worth $523,581,000 after purchasing an additional 844,298 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Waste Management by 16.9% in the 3rd quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock worth $827,815,000 after purchasing an additional 776,491 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

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.