Waste Management (NYSE:WM) Price Target Raised to $229.00 at Oppenheimer

Waste Management (NYSE:WM) had its target price raised by Oppenheimer from $228.00 to $229.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price objective indicates a potential upside of 3.65% from the stock’s current price.

WM has been the subject of several other research reports. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Stifel Nicolaus boosted their price target on shares of Waste Management from $215.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Morgan Stanley boosted their price target on shares of Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. BMO Capital Markets boosted their price target on shares of Waste Management from $207.00 to $212.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Finally, Robert W. Baird boosted their price target on shares of Waste Management from $214.00 to $222.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 30th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $217.39.

Waste Management Stock Up 2.3 %

Shares of NYSE WM opened at $220.94 on Monday. The firm has a market cap of $88.61 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 2.48 and a beta of 0.74. 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 has a 52-week low of $149.71 and a 52-week high of $220.96. The business’s 50 day moving average is $208.68 and its two-hundred day moving average is $202.95.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. The company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.31 earnings per share. Research analysts predict that Waste Management will post 7.31 EPS for the current year.

Insider Buying and Selling at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the sale, the vice president now directly owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc grew its holdings in Waste Management by 5.1% during the second quarter. AdvisorNet Financial Inc now owns 7,564 shares of the business services provider’s stock worth $1,614,000 after acquiring an additional 370 shares during the period. Capital Advisors Wealth Management LLC grew its holdings in Waste Management by 21.7% during the second quarter. Capital Advisors Wealth Management LLC now owns 1,846 shares of the business services provider’s stock worth $394,000 after acquiring an additional 329 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Waste Management by 1.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 53,367 shares of the business services provider’s stock worth $11,385,000 after acquiring an additional 903 shares during the period. PGGM Investments grew its holdings in Waste Management by 58.8% during the second quarter. PGGM Investments now owns 24,567 shares of the business services provider’s stock worth $5,241,000 after acquiring an additional 9,098 shares during the period. Finally, ORG Partners LLC acquired a new position in Waste Management during the second quarter worth $148,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

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.