TD Cowen Raises Waste Management (NYSE:WM) Price Target to $235.00

Waste Management (NYSE:WM) had its target price increased by investment analysts at TD Cowen from $220.00 to $235.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. TD Cowen’s target price points to a potential upside of 10.93% from the company’s previous close.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Oppenheimer raised their target price on shares of Waste Management from $221.00 to $228.00 and gave the stock an “outperform” rating in a research report on Friday. Royal Bank of Canada increased their price target 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. Jefferies Financial Group increased their price objective on Waste Management from $230.00 to $256.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, BMO Capital Markets lifted their price target on Waste Management from $207.00 to $212.00 and gave the company a “market perform” rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $215.60.

Waste Management Trading Up 0.8 %

NYSE:WM traded up $1.75 during trading hours on Monday, reaching $211.85. 675,001 shares of the stock were exchanged, compared to its average volume of 1,657,917. The business has a 50-day moving average of $208.54 and a two-hundred day moving average of $187.29. Waste Management has a twelve month low of $149.71 and a twelve month high of $214.54. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. The company has a market capitalization of $84.97 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 2.81 and a beta of 0.72.

Waste Management (NYSE:WM) last released its 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. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The firm had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the previous year, the firm posted $1.31 EPS. Waste Management’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities analysts predict that Waste Management will post 7.09 EPS for the current year.

Insider Buying and Selling

In other news, EVP Charles C. Boettcher sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $209.50, for a total transaction of $523,750.00. Following the completion of the sale, the executive vice president now owns 29,677 shares of the company’s stock, valued at $6,217,331.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Waste Management news, CFO Devina A. Rankin sold 775 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total transaction of $153,899.50. Following the completion of the transaction, the chief financial officer now directly owns 75,204 shares of the company’s stock, valued at approximately $14,934,010.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Charles C. Boettcher sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the completion of the sale, the executive vice president now directly owns 29,677 shares in the company, valued at approximately $6,217,331.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,007 shares of company stock worth $3,696,520. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC increased its stake in shares of Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after purchasing an additional 75 shares during the last quarter. Sachetta LLC acquired a new position in Waste Management during the fourth quarter worth $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Waste Management in the first quarter worth about $35,000. Gilfoyle & Co LLC bought a new position in shares of Waste Management in the 4th quarter valued at approximately $30,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in shares of Waste Management in the fourth quarter valued at approximately $36,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

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.