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

Waste Management (NYSE:WM) had its price target upped by investment analysts 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 target price indicates a potential upside of 3.83% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group increased their price target on Waste Management from $230.00 to $256.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Royal Bank of Canada increased their price target on Waste Management from $211.00 to $215.00 and gave the stock a “sector perform” rating in a report on Friday. Citigroup increased their target price on Waste Management from $215.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Morgan Stanley increased their target price on Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Raymond James increased their price target on Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research report on Friday. Nine investment 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.88.

Waste Management Stock Performance

Shares of Waste Management stock traded up $1.78 during trading 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 business’s 50-day moving average price is $208.54 and its 200-day moving average price is $187.29. The firm has a market cap of $84.98 billion, a PE ratio of 34.69, a P/E/G ratio of 2.81 and a beta of 0.72. Waste Management has a 52 week low of $149.71 and a 52 week 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.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, beating 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 business had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the business posted $1.31 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. Equities analysts forecast that Waste Management will post 7.09 earnings per share for the current year.

Insider Activity at Waste Management

In other Waste Management news, CFO Devina A. Rankin sold 775 shares of Waste Management stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total value of $153,899.50. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 transaction 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 $19,804,339.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Devina A. Rankin sold 775 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $198.58, for a total value of $153,899.50. Following the transaction, the chief financial officer now directly owns 75,204 shares in the company, valued at $14,934,010.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,007 shares of company stock valued at $3,696,520. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Waste Management

Several hedge funds have recently made changes to their positions in the business. RAM Investment Partners LLC purchased a new position in shares of Waste Management during the first quarter valued at approximately $257,000. First National Bank & Trust Co. of Newtown bought a new stake in shares of Waste Management during the first quarter valued at approximately $224,000. Weatherly Asset Management L. P. boosted its position in shares of Waste Management by 1.2% during the first quarter. Weatherly Asset Management L. P. now owns 108,949 shares of the business services provider’s stock valued at $23,222,000 after purchasing an additional 1,249 shares in the last quarter. Kellett Wealth Advisors LLC bought a new stake in shares of Waste Management during the first quarter valued at approximately $224,000. Finally, MBA Advisors LLC bought a new stake in shares of Waste Management during the first quarter valued at approximately $245,000. 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.