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

Waste Management (NYSE:WM - Get Free Report) had its price target boosted by stock analysts at Scotiabank from $260.00 to $265.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "sector outperform" rating on the business services provider's stock. Scotiabank's target price would suggest a potential upside of 16.39% from the company's previous close.

WM has been the topic of a number of other research reports. Seaport Res Ptn raised Waste Management to a "hold" rating in a research note on Tuesday, May 6th. Citigroup lifted their price target on Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Oppenheimer increased their price objective on shares of Waste Management from $251.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday. Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 target price for the company in a report on Monday, June 9th. Finally, Robert W. Baird increased their price target on shares of Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $251.00.

Waste Management Trading Up 0.4%

NYSE:WM opened at $227.68 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 2.65. Waste Management has a 52-week low of $196.59 and a 52-week high of $242.58. The company has a market capitalization of $91.62 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 3.02 and a beta of 0.66. The stock has a fifty day simple moving average of $233.08 and a 200-day simple moving average of $224.30.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $6.14 billion. During the same quarter last year, the business posted $1.75 EPS. The firm's quarterly revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts expect that Waste Management will post 7.7 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the transaction, the chief financial officer now owns 83,934 shares in the company, valued at $19,922,574.24. This represents a 40.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction on 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 now owns 16,542 shares of the company's stock, valued at $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. 0.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WM. Brighton Jones LLC raised its stake in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after purchasing an additional 2,320 shares during the last quarter. Mission Wealth Management LP grew its position in Waste Management by 811.1% during the fourth quarter. Mission Wealth Management LP now owns 9,102 shares of the business services provider's stock worth $1,837,000 after buying an additional 8,103 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Waste Management by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock valued at $137,108,000 after acquiring an additional 24,023 shares during the period. Mizuho Securities USA LLC grew its holdings in shares of Waste Management by 46.2% during the 4th quarter. Mizuho Securities USA LLC now owns 34,617 shares of the business services provider's stock worth $6,985,000 after purchasing an additional 10,936 shares in the last quarter. Finally, GPM Growth Investors Inc. raised its stake in shares of Waste Management by 144.2% in the fourth quarter. GPM Growth Investors Inc. now owns 11,045 shares of the business services provider's stock valued at $2,229,000 after purchasing an additional 6,522 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

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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