Deutsche Bank Aktiengesellschaft Initiates Coverage on Waste Management (NYSE:WM)

Analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Waste Management (NYSE:WM - Get Free Report) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $241.00 price target on the business services provider's stock. Deutsche Bank Aktiengesellschaft's price target suggests a potential upside of 14.78% from the company's current price.

A number of other analysts have also issued reports on the company. Truist Financial lifted their target price on Waste Management from $220.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, April 26th. HSBC lowered Waste Management from a "buy" rating to a "hold" rating and set a $210.00 target price on the stock. in a research report on Thursday, February 15th. CIBC lifted their target price on Waste Management from $207.00 to $220.00 and gave the stock a "neutral" rating in a research report on Monday, April 29th. Raymond James lifted their target price on Waste Management from $219.00 to $229.00 and gave the stock an "outperform" rating in a research report on Friday, April 26th. Finally, Stifel Nicolaus lifted their target price on Waste Management from $215.00 to $227.00 and gave the stock a "buy" rating in a research report on Friday, April 26th. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $217.61.

Waste Management Stock Up 0.8 %

NYSE:WM traded up $1.64 during mid-day trading on Wednesday, hitting $209.97. The company had a trading volume of 1,515,798 shares, compared to its average volume of 1,667,578. The business has a fifty day simple moving average of $209.55 and a 200-day simple moving average of $193.27. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23. Waste Management has a 1 year low of $149.71 and a 1 year high of $214.54. The firm has a market capitalization of $84.21 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 2.71 and a beta of 0.72.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the company posted $1.31 earnings per share. The firm's revenue was up 5.5% compared to the same quarter last year. Equities analysts forecast that Waste Management will post 7.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Waste Management

In other news, SVP Tara J. Hemmer sold 1,782 shares of Waste Management stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $204.23, for a total transaction of $363,937.86. Following the sale, the senior vice president now owns 55,591 shares of the company's stock, valued at $11,353,349.93. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Charles C. Boettcher sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total transaction of $523,750.00. Following the sale, the executive vice president now owns 29,677 shares of the company's stock, valued at $6,217,331.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Tara J. Hemmer sold 1,782 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $204.23, for a total value of $363,937.86. Following the sale, the senior vice president now directly owns 55,591 shares in the company, valued at approximately $11,353,349.93. The disclosure for this sale can be found here. Insiders sold a total of 13,282 shares of company stock worth $2,754,889 over the last ninety days. Company insiders own 0.18% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WM. Norges Bank bought a new position in shares of Waste Management in the fourth quarter valued at $784,486,000. Sustainable Growth Advisers LP purchased a new position in Waste Management during the 1st quarter worth approximately $300,594,000. Capital World Investors grew its position in Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider's stock worth $900,957,000 after purchasing an additional 1,303,466 shares in the last quarter. abrdn plc grew its position 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 worth $222,165,000 after purchasing an additional 1,106,773 shares in the last quarter. Finally, Mirova US LLC grew its position 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 worth $163,680,000 after purchasing an additional 910,418 shares in the last quarter. 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.