Waste Management (NYSE:WM) PT Raised to $220.00

Waste Management (NYSE:WM) had its target price lifted by equities researchers at CIBC from $207.00 to $220.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. CIBC’s price target indicates a potential upside of 3.83% from the company’s current price.

Several other brokerages also recently weighed in on WM. TD Cowen lifted their price objective on shares of Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank of Canada lifted their price objective on shares of Waste Management from $211.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Friday. HSBC downgraded shares of Waste Management from a “buy” rating to a “hold” rating and set a $210.00 target price on the stock. in a research report on Thursday, February 15th. StockNews.com upgraded shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. Finally, Raymond James lifted their target price on shares of Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research note on Friday. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.88.

Waste Management Stock Performance

Shares of Waste Management stock traded up $1.78 during trading hours on Monday, reaching $211.88. The company’s stock had a trading volume of 750,487 shares, compared to its average volume of 1,659,630. The company’s 50 day simple moving average is $208.54 and its 200 day simple moving average is $187.29. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management has a one year low of $149.71 and a one year high of $214.54. The stock has a market cap of $84.98 billion, a P/E ratio of 34.69, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. The company had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $1.31 EPS. As a group, analysts expect that Waste Management will post 7.09 EPS for the current fiscal year.

Insider Buying and Selling at Waste Management

In other Waste Management news, EVP Charles C. Boettcher sold 3,275 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $199.49, for a total value of $653,329.75. Following the sale, the executive vice president now owns 36,403 shares of the company’s stock, valued at approximately $7,262,034.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Charles C. Boettcher sold 3,275 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $199.49, for a total value of $653,329.75. Following the sale, the executive vice president now owns 36,403 shares of the company’s stock, valued at approximately $7,262,034.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Christopher P. Desantis sold 346 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $199.64, for a total transaction of $69,075.44. Following the completion of the sale, the senior vice president now directly owns 8,218 shares in the company, valued at approximately $1,640,641.52. The disclosure for this sale can be found here. Insiders have sold 18,007 shares of company stock valued at $3,696,520 in the last 90 days. 0.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WM. Norges Bank acquired a new position in Waste Management during the 4th quarter worth about $784,486,000. abrdn plc lifted its position in Waste Management by 315.7% during the 3rd quarter. abrdn plc now owns 1,457,393 shares of the business services provider’s stock worth $222,165,000 after buying an additional 1,106,773 shares in the last quarter. Mirova US LLC lifted its position in Waste Management by 26,116.4% during the 4th quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock worth $163,680,000 after buying an additional 910,418 shares in the last quarter. Capital World Investors lifted its position in Waste Management by 40.6% during the 4th quarter. Capital World Investors now owns 2,923,403 shares of the business services provider’s stock worth $523,581,000 after buying an additional 844,298 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Waste Management by 16.9% during the 3rd quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock worth $827,815,000 after buying an additional 776,491 shares in the last quarter. Institutional investors and hedge funds 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.