Waste Management (NYSE:WM) PT Raised to $240.00

Waste Management (NYSE:WM) had its price target hoisted by analysts at Truist Financial from $220.00 to $240.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Truist Financial’s target price would suggest a potential upside of 14.23% from the stock’s current price.

A number of other equities analysts have also commented on the company. UBS Group lowered Waste Management from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $190.00 to $205.00 in a research note on Wednesday, February 14th. StockNews.com upgraded Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. BMO Capital Markets lifted their price objective on Waste Management from $184.00 to $196.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 14th. Oppenheimer lifted their price objective on Waste Management from $188.00 to $212.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada lifted their price objective on Waste Management from $211.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.21.

Waste Management Price Performance

Shares of NYSE:WM opened at $210.10 on Friday. Waste Management has a fifty-two week low of $149.71 and a fifty-two week high of $214.54. The business has a 50-day moving average of $208.54 and a two-hundred day moving average of $187.08. The stock has a market capitalization of $84.31 billion, a P/E ratio of 34.39, a P/E/G ratio of 3.23 and a beta of 0.72. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.86.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The company had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the firm earned $1.31 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Waste Management will post 6.88 EPS for the current fiscal year.

Insider Activity

In other news, EVP John J. Morris sold 8,889 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $207.46, for a total value of $1,844,111.94. Following the sale, the executive vice president now directly owns 95,461 shares in the company, valued at approximately $19,804,339.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Donald J. Smith sold 329 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $198.56, for a total value of $65,326.24. Following the transaction, the vice president now directly owns 5,522 shares of the company’s stock, valued at approximately $1,096,448.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John J. Morris sold 8,889 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $207.46, for a total value of $1,844,111.94. Following the completion of the transaction, the executive vice president now directly owns 95,461 shares in the company, valued at $19,804,339.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,007 shares of company stock worth $3,696,520. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WM. McAdam LLC lifted its holdings in Waste Management by 4.0% during the 1st quarter. McAdam LLC now owns 1,317 shares of the business services provider’s stock worth $281,000 after buying an additional 51 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Waste Management by 2.7% in the 1st quarter. Capital Advisors Ltd. LLC now owns 2,053 shares of the business services provider’s stock valued at $438,000 after purchasing an additional 53 shares during the period. Quent Capital LLC lifted its stake in shares of Waste Management by 7.3% in the 4th quarter. Quent Capital LLC now owns 810 shares of the business services provider’s stock valued at $145,000 after purchasing an additional 55 shares during the period. Drake & Associates LLC lifted its stake in shares of Waste Management by 3.4% in the 4th quarter. Drake & Associates LLC now owns 1,652 shares of the business services provider’s stock valued at $296,000 after purchasing an additional 55 shares during the period. Finally, Azzad Asset Management Inc. ADV lifted its stake in shares of Waste Management by 0.6% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 9,495 shares of the business services provider’s stock valued at $2,024,000 after purchasing an additional 55 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

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.