Waste Management (NYSE:WM) Price Target Raised to $265.00

Key Points

• UBS Group has raised its price target for Waste Management (NYSE:WM) from $260.00 to $265.00, indicating a potential upside of 12.75% from the current price.
• The stock currently holds an average rating of "Moderate Buy" from 23 analysts, with a broader assessment including eight hold ratings and thirteen buy ratings.
• In its latest earnings report, Waste Management surpassed expectations with $1.92 earnings per share and reported a revenue increase of 19% year-over-year.

Waste Management (NYSE:WM - Get Free Report) had its price target lifted by investment analysts at UBS Group from $260.00 to $265.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the business services provider's stock. UBS Group's price objective indicates a potential upside of 15.95% from the company's previous close.

WM has been the subject of a number of other research reports. William Blair restated an "outperform" rating on shares of Waste Management in a research note on Tuesday. Royal Bank Of Canada reissued a "sector perform" rating and issued a $229.00 price target on shares of Waste Management in a research note on Thursday, June 26th. Scotiabank lifted their target price on Waste Management from $260.00 to $265.00 and gave the company a "sector outperform" rating in a research report on Friday, June 27th. Hsbc Global Res raised shares of Waste Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Seaport Res Ptn raised shares of Waste Management to a "hold" rating in a report on Tuesday, May 6th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $254.35.

Waste Management Stock Down 0.3%

WM stock traded down $0.62 on Wednesday, hitting $228.55. 384,958 shares of the company's stock were exchanged, compared to its average volume of 1,718,162. The firm has a 50 day moving average price of $231.65 and a two-hundred day moving average price of $227.97. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.79 and a current ratio of 0.86. Waste Management has a 12-month low of $199.69 and a 12-month high of $242.58. The stock has a market cap of $91.97 billion, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 2.83 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%. The company's revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.82 earnings per share. As a group, equities research analysts expect that Waste Management will post 7.7 EPS for the current fiscal year.

Insider Transactions at Waste Management

In other news, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the sale, the chief financial officer directly owned 83,934 shares of the company's stock, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total transaction of $159,609.94. Following 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 ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Waste Management

Several large investors have recently made changes to their positions in WM. Westend Capital Management LLC raised its position in Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after acquiring an additional 66 shares in the last quarter. West Branch Capital LLC grew its position in Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after buying an additional 49 shares during the last quarter. Transce3nd LLC acquired a new stake in shares of Waste Management during the 4th quarter valued at $28,000. Saudi Central Bank acquired a new position in shares of Waste Management in the 1st quarter worth $37,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of Waste Management during the first quarter valued at $38,000. 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.