JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Waste Management (NYSE:WM) Stock

Waste Management (NYSE:WM) had its price objective increased by stock analysts at JPMorgan Chase & Co. from $265.00 to $270.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 17.68% from the company’s previous close.

A number of other analysts have also issued reports on WM. Wolfe Research began coverage on shares of Waste Management in a research report on Friday, March 13th. They set a “peer perform” rating on the stock. Wells Fargo & Company increased their price target on Waste Management from $250.00 to $273.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. UBS Group raised Waste Management from a “neutral” rating to a “buy” rating and increased their price target for the stock from $225.00 to $260.00 in a research note on Friday, January 9th. Sanford C. Bernstein upped their price objective on Waste Management from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Finally, Stifel Nicolaus upped their price objective on Waste Management from $236.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.82.

Waste Management Price Performance

Shares of NYSE:WM opened at $229.44 on Friday. The business’s 50 day simple moving average is $233.20 and its 200-day simple moving average is $221.86. The firm has a market capitalization of $92.44 billion, a price-to-earnings ratio of 34.24, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management has a 12 month low of $194.11 and a 12 month high of $248.13.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.02). Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The company had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.39 billion. During the same period in the previous year, the company posted $1.70 EPS. Waste Management’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts forecast that Waste Management will post 7.7 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Donald J. Smith sold 12,194 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $233.48, for a total transaction of $2,847,055.12. Following the sale, the vice president owned 6,024 shares in the company, valued at $1,406,483.52. This represents a 66.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John J. Morris sold 4,211 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $243.38, for a total value of $1,024,873.18. Following the completion of the sale, the chief operating officer directly owned 99,929 shares in the company, valued at $24,320,720.02. This represents a 4.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 98,042 shares of company stock valued at $23,039,777 over the last quarter. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

Hedge funds have recently made changes to their positions in the business. Elevated Capital Advisors LLC bought a new stake in shares of Waste Management during the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC raised its holdings in shares of Waste Management by 101.5% during the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after buying an additional 67 shares during the last quarter. RHL Group LLC bought a new stake in shares of Waste Management during the fourth quarter valued at approximately $29,000. Financial Network Wealth Advisors LLC raised its holdings in shares of Waste Management by 55.3% during the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after buying an additional 47 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. bought a new stake in shares of Waste Management during the fourth quarter valued at approximately $29,000. Institutional investors own 80.40% of the company’s stock.

About Waste Management

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.