Waste Management (NYSE:WM) Given New $271.00 Price Target at Barclays

Key Points

• Barclays has lowered its price target for Waste Management from $272 to $271, maintaining an "overweight" rating, which suggests a potential upside of 23.44% from the current stock price.
• Institutional investors hold a significant portion of Waste Management stock, with 80.40% of shares owned by these entities, which shows strong institutional confidence in the company.
• Waste Management reported a quarterly earnings of $1.92 per share, exceeding estimates by $0.03, with a revenue increase of 19.0% compared to the same quarter last year.

Waste Management (NYSE:WM - Get Free Report) had its target price lowered by Barclays from $272.00 to $271.00 in a report released on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the business services provider's stock. Barclays's price objective indicates a potential upside of 23.44% from the stock's current price.

WM has been the subject of a number of other research reports. William Blair reissued an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. BMO Capital Markets raised their price target on shares of Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a report on Wednesday, July 30th. Citigroup reduced their price target on shares of Waste Management from $275.00 to $268.00 and set a "buy" rating on the stock in a research report on Tuesday, September 16th. National Bankshares decreased their price target on Waste Management from $250.00 to $243.00 and set a "sector perform" rating on the stock in a research note on Tuesday. Finally, UBS Group raised their price objective on Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $254.32.

Waste Management Trading Down 0.2%

Shares of Waste Management stock opened at $219.53 on Thursday. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The stock's 50 day simple moving average is $223.47 and its 200-day simple moving average is $228.09. The stock has a market cap of $88.43 billion, a P/E ratio of 32.57, a P/E/G ratio of 2.66 and a beta of 0.64. Waste Management has a 1-year low of $199.69 and a 1-year high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm's revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Analysts predict that Waste Management will post 7.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Waste Management

Institutional investors have recently modified their holdings of the business. Westend Capital Management LLC boosted its holdings 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 valued at $27,000 after purchasing an additional 66 shares during the period. West Branch Capital LLC boosted its stake in shares of Waste Management by 69.0% in 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. Saudi Central Bank acquired a new position in shares of Waste Management during the first quarter worth about $37,000. GKV Capital Management Co. Inc. acquired a new stake in Waste Management in the first quarter valued at approximately $38,000. Finally, Loomis Sayles & Co. L P purchased a new position in Waste Management in the second quarter worth approximately $40,000. Institutional investors and hedge funds own 80.40% of the company's stock.

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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