Waste Management (NYSE:WM) Price Target Raised to $147.00


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Waste Management (NYSE:WM) had its price target hoisted by equities research analysts at Raymond James from $144.00 to $147.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Raymond James’ price objective would indicate a potential upside of 4.75% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley boosted their price objective on Waste Management from $121.00 to $133.00 and gave the company an “equal weight” rating in a report on Tuesday. Robert W. Baird downgraded Waste Management from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $128.00 to $122.00 in a report on Tuesday, February 16th. Oppenheimer upped their price target on Waste Management from $146.00 to $148.00 and gave the stock an “outperform” rating in a report on Tuesday. The Goldman Sachs Group started coverage on Waste Management in a report on Tuesday, April 13th. They set a “buy” rating and a $145.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Waste Management from $119.00 to $138.00 and gave the stock a “hold” rating in a report on Wednesday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $129.77.

Shares of WM stock opened at $140.34 on Tuesday. The company has a market cap of $59.24 billion, a P/E ratio of 37.13, a PEG ratio of 4.70 and a beta of 0.72. Waste Management has a fifty-two week low of $94.13 and a fifty-two week high of $140.68. The stock has a 50 day simple moving average of $130.89 and a two-hundred day simple moving average of $119.70. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.86 and a current ratio of 0.88.

Waste Management (NYSE:WM) last released its quarterly earnings data on Tuesday, April 27th. The business services provider reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.02 billion. Waste Management had a return on equity of 25.84% and a net margin of 10.66%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.93 earnings per share. On average, research analysts predict that Waste Management will post 3.84 earnings per share for the current year.

In related news, VP Michael J. Watson sold 432 shares of the firm’s stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $111.29, for a total transaction of $48,077.28. Following the completion of the transaction, the vice president now owns 18,748 shares of the company’s stock, valued at approximately $2,086,464.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Nikolaj H. Sjoqvist sold 1,391 shares of the firm’s stock in a transaction that occurred on Friday, February 19th. The shares were sold at an average price of $111.51, for a total value of $155,110.41. Following the transaction, the senior vice president now directly owns 39,769 shares of the company’s stock, valued at approximately $4,434,641.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,382 shares of company stock valued at $3,731,129. 0.16% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the business. Blue Zone Wealth Advisors LLC increased its holdings in shares of Waste Management by 38.2% in the 1st quarter. Blue Zone Wealth Advisors LLC now owns 20,632 shares of the business services provider’s stock worth $2,662,000 after purchasing an additional 5,700 shares in the last quarter. Robeco Schweiz AG increased its holdings in shares of Waste Management by 86.4% in the 1st quarter. Robeco Schweiz AG now owns 716,400 shares of the business services provider’s stock worth $92,430,000 after purchasing an additional 332,000 shares in the last quarter. Ieq Capital LLC bought a new stake in shares of Waste Management in the 1st quarter worth $341,000. Valmark Advisers Inc. increased its holdings in shares of Waste Management by 3.3% in the 1st quarter. Valmark Advisers Inc. now owns 4,633 shares of the business services provider’s stock worth $598,000 after purchasing an additional 146 shares in the last quarter. Finally, Alaethes Wealth LLC bought a new stake in shares of Waste Management in the 1st quarter worth $1,157,000. 71.42% of the stock is owned by institutional investors and hedge funds.

About Waste Management

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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