Waste Management (NYSE:WM) Coverage Initiated at Barclays

Equities research analysts at Barclays began coverage on shares of Waste Management (NYSE:WM) in a note issued to investors on Friday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $272.00 price target on the business services provider’s stock. Barclays‘s price target points to a potential upside of 25.54% from the stock’s previous close.

WM has been the topic of a number of other reports. UBS Group boosted their target price on Waste Management from $260.00 to $265.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Citigroup reduced their price target on Waste Management from $275.00 to $268.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Royal Bank Of Canada restated a “sector perform” rating and set a $229.00 price objective on shares of Waste Management in a report on Thursday, June 26th. Melius began coverage on Waste Management in a research report on Monday, June 9th. They set a “buy” rating on the stock. Finally, Scotiabank raised their price objective on Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $255.17.

Waste Management Stock Performance

NYSE WM opened at $216.66 on Friday. The firm has a market cap of $87.28 billion, a price-to-earnings ratio of 32.15, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The business has a 50-day moving average price of $226.04 and a 200-day moving average price of $228.76. Waste Management has a twelve month low of $199.69 and a twelve month high of $242.58.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The business’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Waste Management will post 7.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Waste Management

A number of hedge funds have recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 2,320 shares during the last quarter. Empowered Funds LLC boosted its holdings in Waste Management by 82.9% in the first quarter. Empowered Funds LLC now owns 22,670 shares of the business services provider’s stock valued at $5,248,000 after purchasing an additional 10,272 shares during the period. Zevenbergen Capital Investments LLC raised its stake in Waste Management by 30.4% in the second quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider’s stock valued at $2,158,000 after buying an additional 2,200 shares in the last quarter. BROOKFIELD Corp ON increased its position in shares of Waste Management by 25.1% during the first quarter. BROOKFIELD Corp ON now owns 20,135 shares of the business services provider’s stock worth $4,661,000 after purchasing an additional 4,043 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position in shares of Waste Management by 41.7% during the first quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider’s stock worth $183,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds 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.