Raymond James Financial Boosts Waste Management (NYSE:WM) Price Target to $256.00

Waste Management (NYSE:WM - Get Free Report) had its price target boosted by investment analysts at Raymond James Financial from $255.00 to $256.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the business services provider's stock. Raymond James Financial's price target would suggest a potential upside of 13.15% from the company's previous close.

A number of other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. upgraded Waste Management from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $225.00 to $277.00 in a research note on Friday, May 23rd. National Bank Financial upgraded Waste Management to a "hold" rating in a research note on Monday, May 26th. UBS Group lifted their price objective on Waste Management from $240.00 to $250.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Royal Bank Of Canada restated a "sector perform" rating and issued a $229.00 price target on shares of Waste Management in a research note on Thursday, June 26th. Finally, Hsbc Global Res upgraded Waste Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Waste Management currently has an average rating of "Moderate Buy" and an average target price of $252.41.

Waste Management Price Performance

Shares of WM traded up $0.94 during midday trading on Tuesday, reaching $226.24. The stock had a trading volume of 395,413 shares, compared to its average volume of 1,629,867. The company's 50-day moving average is $231.54 and its 200 day moving average is $226.73. Waste Management has a 12-month low of $196.59 and a 12-month high of $242.58. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.65. The company has a market capitalization of $91.04 billion, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.08. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.14 billion. During the same period last year, the company earned $1.75 EPS. Waste Management's revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities analysts predict that Waste Management will post 7.7 EPS for the current fiscal year.

Insider Buying and Selling at Waste Management

In related news, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president owned 16,542 shares in the company, valued at $3,917,311.02. This trade represents a 3.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the transaction, the chief financial officer owned 83,934 shares of the company's stock, valued at $19,922,574.24. The trade was a 40.82% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Institutional Investors Weigh In On Waste Management

Institutional investors have recently bought and sold shares of the company. Westend Capital Management LLC lifted its stake in Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after purchasing an additional 66 shares in the last quarter. West Branch Capital LLC raised its position in shares of Waste Management by 69.0% during the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after buying an additional 49 shares during the period. Transce3nd LLC purchased a new stake in shares of Waste Management during the 4th quarter valued at approximately $28,000. Saudi Central Bank purchased a new stake in shares of Waste Management during the 1st quarter valued at approximately $37,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of Waste Management during the 1st quarter valued at approximately $38,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

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.

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