Waste Management (NYSE:WM) Given New $260.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird raised its price target on Waste Management to $260 (from $248) and kept an "outperform" rating, implying roughly a 15.5% upside from the prior close.
• Consensus analyst sentiment is positive, with an average target of $255.64 and the majority of analysts assigning Buy/Moderate Buy ratings (several firms have also raised targets, including Wells Fargo to $273).
• Recent fundamentals are mixed: shares opened at $225.04 (market cap ~$90.7B), Q4 EPS of $1.93 missed estimates by $0.02 and revenue of $6.31B slightly trailed expectations despite 7.1% YoY growth, while insiders sold about $23M of stock over the past 90 days.

Waste Management (NYSE:WM - Get Free Report) had its target price upped by stock analysts at Robert W. Baird from $248.00 to $260.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the business services provider's stock. Robert W. Baird's price target would indicate a potential upside of 15.53% from the company's previous close.

WM has been the subject of a number of other research reports. Oppenheimer upped their price target on Waste Management from $263.00 to $264.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Citigroup reduced their price target on Waste Management from $270.00 to $263.00 and set a "buy" rating for the company in a report on Friday, January 16th. Stifel Nicolaus boosted their price target on shares of Waste Management from $236.00 to $252.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Wells Fargo & Company boosted their price target on shares of Waste Management from $250.00 to $273.00 and gave the stock an "overweight" rating in a report on Wednesday, March 18th. Finally, Weiss Ratings raised shares of Waste Management from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $255.64.

Waste Management Trading Down 0.9%

Shares of Waste Management stock opened at $225.04 on Thursday. The stock has a market cap of $90.67 billion, a PE ratio of 33.59, a price-to-earnings-growth ratio of 2.40 and a beta of 0.54. Waste Management has a 1 year low of $194.11 and a 1 year high of $248.13. The firm has a fifty day moving average price of $233.35 and a 200 day moving average price of $222.05. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Wednesday, January 28th. The business services provider reported $1.93 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.02). Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.39 billion. During the same period last year, the business earned $1.70 earnings per share. The firm's revenue was up 7.1% on a year-over-year basis. Equities research analysts predict that Waste Management will post 7.7 earnings per share for the current year.

Insider Buying and Selling

In other Waste Management news, SVP Rafael Carrasco sold 7,352 shares of Waste Management stock in a transaction on Friday, February 13th. The stock was sold at an average price of $234.50, for a total value of $1,724,044.00. Following the sale, the senior vice president owned 15,540 shares in the company, valued at $3,644,130. The trade was a 32.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael J. Watson sold 17,251 shares of Waste Management stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $241.81, for a total value of $4,171,464.31. Following the completion of the sale, the vice president owned 44,146 shares in the company, valued at $10,674,944.26. This represents a 28.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 98,042 shares of company stock worth $23,039,777 over the last ninety days. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Waste Management

A number of institutional investors have recently made changes to their positions in the stock. Elevated Capital Advisors LLC purchased a new position in shares of Waste Management during the fourth quarter worth $25,000. Financial Network Wealth Advisors LLC lifted its position in shares of Waste Management by 55.3% during the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock worth $29,000 after purchasing an additional 47 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in shares of Waste Management by 101.5% during the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider's stock worth $29,000 after purchasing an additional 67 shares in the last quarter. RHL Group LLC acquired a new stake in shares of Waste Management during the fourth quarter worth about $29,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in shares of Waste Management during the fourth quarter worth about $29,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

About Waste Management

Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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