BMO Capital Markets Issues Positive Forecast for Waste Management (NYSE:WM) Stock Price

Waste Management (NYSE:WM) had its price objective increased by stock analysts at BMO Capital Markets from $241.00 to $245.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 8.00% from the stock’s current price.

Several other research firms also recently issued reports on WM. Robert W. Baird upped their price objective on Waste Management from $235.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. CIBC upped their price target on Waste Management from $227.00 to $247.00 and gave the company a “neutral” rating in a research note on Wednesday, March 5th. Melius began coverage on Waste Management in a report on Monday, June 9th. They issued a “buy” rating on the stock. UBS Group boosted their price objective on Waste Management from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Finally, HSBC raised shares of Waste Management from a “hold” rating to a “buy” rating and raised their target price for the company from $210.00 to $265.00 in a research note on Friday, April 25th. Eight 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $250.71.

Waste Management Stock Performance

Waste Management stock opened at $226.86 on Wednesday. The stock has a 50-day simple moving average of $233.08 and a 200 day simple moving average of $224.30. The stock has a market capitalization of $91.29 billion, a price-to-earnings ratio of 34.22, a P/E/G ratio of 3.02 and a beta of 0.66. 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 12-month low of $196.59 and a 12-month high of $242.58.

Waste Management (NYSE:WM) last announced its earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.08. Waste Management had a net margin of 11.67% and a return on equity of 35.67%. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.14 billion. During the same period in the previous year, the firm posted $1.75 earnings per share. The company’s revenue was up 16.7% on a year-over-year basis. On average, research analysts anticipate that Waste Management will post 7.7 earnings per share for the current fiscal year.

Insider Activity at Waste Management

In related news, SVP Rafael Carrasco sold 674 shares of the firm’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 transaction, the senior vice president now directly owns 16,542 shares of the company’s stock, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the sale, the chief financial officer now directly owns 83,934 shares in the company, valued at $19,922,574.24. This trade represents a 40.82% 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 Investors Weigh In On Waste Management

Several hedge funds have recently added to or reduced their stakes in WM. Westend Capital Management LLC lifted its position in Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock worth $27,000 after acquiring an additional 66 shares during the last quarter. West Branch Capital LLC boosted its stake in 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 purchasing an additional 49 shares during the period. Transce3nd LLC bought a new stake in Waste Management in the 4th quarter valued at $28,000. Saudi Central Bank bought a new position in Waste Management during the 1st quarter worth $37,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Waste Management during the fourth quarter worth $33,000. 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.