UBS Group Forecasts Strong Price Appreciation for Waste Management (NYSE:WM) Stock

Waste Management (NYSE:WM - Get Free Report) had its price objective raised by research analysts at UBS Group from $240.00 to $250.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the business services provider's stock. UBS Group's price objective points to a potential upside of 9.05% from the company's previous close.

WM has been the subject of several other reports. Hsbc Global Res upgraded Waste Management from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Scotiabank lifted their target price on shares of Waste Management from $255.00 to $260.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, April 8th. Citigroup increased their price target on shares of Waste Management from $242.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Jefferies Financial Group decreased their price objective on Waste Management from $255.00 to $238.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. Finally, Raymond James raised their target price on Waste Management from $235.00 to $237.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Waste Management presently has an average rating of "Moderate Buy" and a consensus target price of $241.82.

Waste Management Stock Performance

WM stock traded up $0.45 during midday trading on Wednesday, hitting $229.25. 260,020 shares of the stock traded hands, compared to its average volume of 1,643,729. Waste Management has a 1-year low of $196.59 and a 1-year high of $239.32. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. The stock's fifty day simple moving average is $227.95 and its 200-day simple moving average is $219.96. The firm has a market cap of $92.23 billion, a P/E ratio of 33.76, a PEG ratio of 2.71 and a beta of 0.66.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping the consensus estimate of $1.59 by $0.08. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.14 billion. During the same quarter in the previous year, the firm earned $1.75 EPS. The firm's revenue was up 16.7% compared to the same quarter last year. On average, analysts expect that Waste Management will post 7.7 earnings per share for the current year.

Insider Activity

In related news, EVP Charles C. Boettcher sold 693 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $220.59, for a total transaction of $152,868.87. Following the completion of the sale, the executive vice president now owns 45,542 shares in the company, valued at $10,046,109.78. This represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Johnson Varkey sold 560 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $220.11, for a total transaction of $123,261.60. Following the completion of the sale, the senior vice president now directly owns 9,152 shares of the company's stock, valued at $2,014,446.72. The trade was a 5.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,577 shares of company stock worth $21,662,464. Corporate insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Waste Management

Several institutional investors have recently added to or reduced their stakes in WM. Vanguard Group Inc. raised its stake in shares of Waste Management by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock worth $7,526,823,000 after purchasing an additional 538,567 shares during the last quarter. Geode Capital Management LLC raised its position in Waste Management by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 8,210,371 shares of the business services provider's stock worth $1,654,173,000 after buying an additional 64,260 shares during the last quarter. Parnassus Investments LLC lifted its stake in shares of Waste Management by 22.5% in the 4th quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock worth $1,265,629,000 after acquiring an additional 1,151,237 shares during the period. Norges Bank acquired a new position in shares of Waste Management during the fourth quarter worth about $1,009,726,000. Finally, Nordea Investment Management AB lifted its position in Waste Management by 7.1% in the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider's stock valued at $854,446,000 after purchasing an additional 280,455 shares during the period. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Company Profile

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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