Waste Management (NYSE:WM) Price Target Raised to $246.00

Waste Management (NYSE:WM) had its price target lifted by investment analysts at Wells Fargo & Company from $238.00 to $246.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 7.95% from the company’s previous close.

Several other analysts also recently issued reports on the company. National Bankshares lowered their price target on Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a report on Tuesday, October 7th. DZ Bank assumed coverage on Waste Management in a report on Tuesday, November 25th. They set a “buy” rating and a $250.00 target price on the stock. Citigroup decreased their price target on Waste Management from $270.00 to $263.00 and set a “buy” rating for the company in a report on Friday, January 16th. CIBC reduced their target price on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Waste Management in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.19.

Waste Management Trading Down 0.5%

WM traded down $1.12 on Friday, reaching $227.88. 209,991 shares of the company’s stock were exchanged, compared to its average volume of 1,948,970. Waste Management has a twelve month low of $194.11 and a twelve month high of $242.58. The company’s 50 day moving average is $217.45 and its 200-day moving average is $219.20. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.80 and a current ratio of 0.84. The company has a market cap of $91.81 billion, a price-to-earnings ratio of 35.88, a PEG ratio of 2.54 and a beta of 0.59.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The business had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the prior year, the firm earned $1.96 earnings per share. Waste Management’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities analysts predict that Waste Management will post 7.7 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Rafael Carrasco sold 1,380 shares of Waste Management stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the completion of the transaction, the senior vice president owned 15,540 shares in the company, valued at approximately $3,373,112.40. This trade represents a 8.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WM. Syntegra Private Wealth Group LLC boosted its holdings in shares of Waste Management by 2.0% during the second quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider’s stock valued at $524,000 after acquiring an additional 44 shares during the period. Harbour Trust & Investment Management Co lifted its position in Waste Management by 1.1% in the 2nd quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider’s stock valued at $943,000 after purchasing an additional 45 shares during the last quarter. Old Port Advisors boosted its stake in Waste Management by 0.3% during the 4th quarter. Old Port Advisors now owns 16,963 shares of the business services provider’s stock valued at $3,727,000 after purchasing an additional 46 shares during the period. KWB Wealth increased its stake in shares of Waste Management by 1.3% in the second quarter. KWB Wealth now owns 3,607 shares of the business services provider’s stock valued at $835,000 after purchasing an additional 47 shares during the period. Finally, D.B. Root & Company LLC boosted its position in shares of Waste Management by 3.0% during the second quarter. D.B. Root & Company LLC now owns 1,603 shares of the business services provider’s stock worth $367,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

About Waste Management

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.