Waste Management (NYSE:WM) Stock Price Expected to Rise, Oppenheimer Analyst Says

Waste Management (NYSE:WM - Get Free Report) had its target price increased by Oppenheimer from $255.00 to $260.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the business services provider's stock. Oppenheimer's price target points to a potential upside of 15.10% from the stock's current price.

Several other brokerages have also commented on WM. Hsbc Global Res raised Waste Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. BMO Capital Markets raised their price objective on Waste Management from $241.00 to $245.00 and gave the company a "market perform" rating in a research report on Wednesday, June 25th. CIBC raised their price objective on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 price objective for the company in a research report on Monday, June 9th. Finally, Seaport Res Ptn raised Waste Management to a "hold" rating in a research report on Tuesday, May 6th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $251.29.

Waste Management Price Performance

NYSE WM traded up $0.25 on Wednesday, reaching $225.90. 1,696,881 shares of the company's stock traded hands, compared to its average volume of 1,636,011. Waste Management has a 12 month low of $196.59 and a 12 month high of $242.58. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.83 and a quick ratio of 0.79. The stock has a 50-day simple moving average of $232.28 and a 200 day simple moving average of $225.73. The stock has a market cap of $90.90 billion, a PE ratio of 34.07, a P/E/G ratio of 2.99 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last issued its 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 net margin of 11.67% and a return on equity of 35.67%. The firm had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $6.14 billion. During the same quarter last year, the business earned $1.75 earnings per share. The business's revenue was up 16.7% on a year-over-year basis. As a group, research analysts predict that Waste Management will post 7.7 earnings per share for the current year.

Insider Activity

In other Waste Management news, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the sale, the senior vice president directly owned 16,542 shares in the company, valued at $3,917,311.02. The trade was a 3.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of the business's 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 sale, the chief financial officer owned 83,934 shares of the company's stock, valued at approximately $19,922,574.24. This represents a 40.82% 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

A number of large investors have recently made changes to their positions in the company. Westend Capital Management LLC grew its stake in shares of Waste Management by 126.9% during the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after acquiring an additional 66 shares during the period. West Branch Capital LLC lifted its holdings in Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after purchasing an additional 49 shares in the last quarter. Transce3nd LLC purchased a new position in Waste Management in the 4th quarter worth approximately $28,000. Saudi Central Bank purchased a new stake in shares of Waste Management during the 1st quarter worth approximately $37,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of Waste Management during the 1st quarter worth approximately $38,000. 80.40% of the stock is currently owned by institutional investors.

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.