Waste Management (NYSE:WM) Price Target Raised to $245.00

Waste Management (NYSE:WM - Get Free Report) had its price target upped by BMO Capital Markets from $241.00 to $245.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "market perform" rating on the business services provider's stock. BMO Capital Markets' price objective would suggest a potential upside of 6.86% from the company's current price.

Several other equities analysts also recently weighed in on the stock. Hsbc Global Res upgraded shares of Waste Management from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Citigroup increased their price objective on shares of Waste Management from $260.00 to $271.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised shares of Waste Management from a "neutral" rating to an "overweight" rating and upped their price target for the company from $225.00 to $277.00 in a report on Friday, May 23rd. Robert W. Baird lifted their price objective on Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, HSBC raised Waste Management from a "hold" rating to a "buy" rating and raised their target price for the stock from $210.00 to $265.00 in a report on Friday, April 25th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $250.53.

Waste Management Stock Down 2.1%

NYSE WM traded down $4.88 on Wednesday, hitting $229.27. The stock had a trading volume of 1,084,024 shares, compared to its average volume of 1,710,043. Waste Management has a 52-week low of $196.59 and a 52-week high of $242.58. The business's fifty day moving average price is $233.18 and its 200 day moving average price is $224.20. 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 market cap of $92.26 billion, a price-to-earnings ratio of 34.58, a price-to-earnings-growth ratio of 3.10 and a beta of 0.66.

Waste Management (NYSE:WM - Get Free Report) last released its earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.08. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.14 billion. During the same period in the prior year, the firm earned $1.75 EPS. The firm's revenue was up 16.7% on a year-over-year basis. Equities research analysts anticipate that Waste Management will post 7.7 earnings per share for the current year.

Insider Buying and Selling at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the sale, the chief financial officer now owns 83,934 shares of the company's stock, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rafael Carrasco sold 674 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the sale, the senior vice president now owns 16,542 shares of the company's stock, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Institutional Investors Weigh In On Waste Management

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Waste Management by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider's stock valued at $7,526,823,000 after purchasing an additional 538,567 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 valued at $1,654,173,000 after buying an additional 64,260 shares during the period. Parnassus Investments LLC lifted its holdings in Waste Management by 22.5% in the fourth quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock valued at $1,265,629,000 after acquiring an additional 1,151,237 shares during the last quarter. Ameriprise Financial Inc. grew its position in Waste Management by 30.4% in the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock worth $1,233,240,000 after acquiring an additional 1,239,996 shares during the period. Finally, Norges Bank acquired a new stake in Waste Management during the fourth quarter worth $1,009,726,000. Hedge funds and other institutional investors 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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