StockNews.com Downgrades Waste Management (NYSE:WM) to Buy

Waste Management (NYSE:WM) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Other research analysts have also recently issued reports about the stock. Stifel Nicolaus raised their target price on shares of Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Truist Financial upped their target price on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Argus upped their price target on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.72.

Waste Management Price Performance

Shares of NYSE WM opened at $205.43 on Tuesday. The business’s 50 day moving average is $217.65 and its 200-day moving average is $211.47. The firm has a market cap of $82.45 billion, a P/E ratio of 31.41, a price-to-earnings-growth ratio of 2.36 and a beta of 0.75. Waste Management has a 1-year low of $175.62 and a 1-year high of $230.39. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the firm earned $1.63 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Equities research analysts predict that Waste Management will post 7.32 earnings per share for the current year.

Insiders Place Their Bets

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Waste Management

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rockland Trust Co. grew its stake in Waste Management by 5.7% during the second quarter. Rockland Trust Co. now owns 1,848 shares of the business services provider’s stock worth $394,000 after purchasing an additional 100 shares during the period. Moss Adams Wealth Advisors LLC bought a new position in Waste Management during the second quarter worth $217,000. GYL Financial Synergies LLC grew its holdings in Waste Management by 3.8% in the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock worth $290,000 after purchasing an additional 50 shares during the period. &PARTNERS raised its holdings in shares of Waste Management by 437.1% during the second quarter. &PARTNERS now owns 11,129 shares of the business services provider’s stock valued at $2,363,000 after purchasing an additional 9,057 shares during the period. Finally, Cornerstone Wealth Group LLC bought a new position in shares of Waste Management during the 2nd quarter worth about $221,000. 80.40% of the stock is owned by institutional investors and hedge funds.

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.