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

Waste Management (NYSE:WM) had its price target raised by Truist Financial from $220.00 to $240.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Truist Financial’s price target suggests a potential upside of 13.67% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley upped their target price on shares of Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday. Jefferies Financial Group upped their price objective on shares of Waste Management from $230.00 to $256.00 and gave the company a “buy” rating in a report on Monday, March 18th. HSBC lowered shares of Waste Management from a “buy” rating to a “hold” rating and set a $210.00 price objective for the company. in a report on Thursday, February 15th. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 9th. Finally, Oppenheimer upped their target price on shares of Waste Management from $188.00 to $212.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $208.07.

Waste Management Price Performance

NYSE WM traded down $1.56 on Friday, hitting $211.14. The company had a trading volume of 761,150 shares, compared to its average volume of 1,659,775. The company has a market capitalization of $84.73 billion, a PE ratio of 34.55, a PEG ratio of 3.19 and a beta of 0.72. The company’s fifty day moving average price is $208.37 and its 200-day moving average price is $186.50. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.90 and a quick ratio of 0.86. Waste Management has a 12-month low of $149.71 and a 12-month high of $214.54.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.52 by $0.23. The company had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.82%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.31 EPS. As a group, analysts predict that Waste Management will post 6.88 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Waste Management

Several institutional investors have recently bought and sold shares of WM. McKinley Carter Wealth Services Inc. boosted its position in shares of Waste Management by 3.8% during the 1st quarter. McKinley Carter Wealth Services Inc. now owns 43,543 shares of the business services provider’s stock worth $9,281,000 after purchasing an additional 1,607 shares in the last quarter. Quantum Financial Advisors LLC purchased a new stake in shares of Waste Management in the 1st quarter worth about $254,000. Sumitomo Life Insurance Co. boosted its position in shares of Waste Management by 14.6% in the 1st quarter. Sumitomo Life Insurance Co. now owns 29,959 shares of the business services provider’s stock worth $6,386,000 after buying an additional 3,819 shares in the last quarter. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Waste Management in the 1st quarter worth about $858,000. Finally, Patrick M Sweeney & Associates Inc. boosted its position in shares of Waste Management by 0.8% in the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 9,581 shares of the business services provider’s stock worth $2,042,000 after buying an additional 77 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

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.