Waste Management (NYSE:WM) Given Peer Perform Rating at Wolfe Research

Key Points

• Wolfe Research reaffirmed its “peer perform” rating on Waste Management, while analysts overall maintain a “Moderate Buy” consensus with an average price target of $258.89.
• Waste Management reported quarterly EPS of $2.02, exceeding estimates of $1.98, while revenue rose 4% year over year to $6.68 billion but fell slightly short of expectations.
• The stock opened at $218.25, up 2.2%, with institutional investors owning approximately 80.4% of outstanding shares; a company chief accounting officer recently sold 1,365 shares.

Waste Management (NYSE:WM - Get Free Report)'s stock had its "peer perform" rating reissued by equities researchers at Wolfe Research in a note issued to investors on Tuesday, Benzinga reports.

A number of other analysts have also recently commented on the stock. Oppenheimer reduced their target price on shares of Waste Management from $264.00 to $263.00 and set an "outperform" rating for the company in a report on Wednesday, July 8th. Canadian Imperial Bank of Commerce downgraded shares of Waste Management from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. Royal Bank Of Canada upped their price objective on Waste Management from $240.00 to $244.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. Scotiabank lifted their target price on Waste Management from $250.00 to $260.00 and gave the company a "sector perform" rating in a research report on Thursday, July 16th. Finally, Stifel Nicolaus upped their price target on Waste Management from $252.00 to $261.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $258.89.

Waste Management Stock Up 2.2%

WM stock opened at $218.25 on Tuesday. The company has a market cap of $87.24 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 2.69 and a beta of 0.42. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91. The business's 50-day moving average is $227.27 and its two-hundred day moving average is $226.47. Waste Management has a fifty-two week low of $194.11 and a fifty-two week high of $248.13.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.04. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The business had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the company posted $1.92 EPS. The business's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, analysts forecast that Waste Management will post 8.13 earnings per share for the current year.

Insider Buying and Selling

In other Waste Management news, CAO John Carroll sold 1,365 shares of the firm's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $219.90, for a total transaction of $300,163.50. Following the sale, the chief accounting officer directly owned 3,509 shares of the company's stock, valued at $771,629.10. This trade represents a 28.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Waste Management

Several institutional investors have recently made changes to their positions in the business. RHL Group LLC acquired a new stake in Waste Management in the 4th quarter valued at approximately $29,000. Financial Network Wealth Advisors LLC grew its stake in shares of Waste Management by 55.3% in 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 in the last quarter. Main Street Group LTD acquired a new position in Waste Management during the 1st quarter worth about $31,000. Godfrey Financial Associates Inc. acquired a new position in Waste Management during the 4th quarter worth about $34,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Waste Management during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Company Profile

WM, Inc, formerly known as Waste Management, Inc, is an environmental services company that provides waste collection, transfer, disposal and recycling services. The company serves residential, commercial, industrial and municipal customers, helping manage everyday refuse as well as certain specialized waste streams.

Its operations include curbside and commercial waste collection, transfer stations, recycling facilities, landfills and waste-related energy services. WM also develops renewable natural gas and electricity projects that capture landfill gas for use as an energy source.

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