Scotiabank Boosts Waste Management (NYSE:WM) Price Target to $255.00

Waste Management (NYSE:WM) had its price target raised by Scotiabank from $250.00 to $255.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the business services provider’s stock. Scotiabank’s price objective points to a potential upside of 13.29% from the stock’s previous close.

WM has been the topic of a number of other reports. Truist Financial raised their price target on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their price target on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. BMO Capital Markets raised their price target on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. UBS Group raised their price target on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Ten investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $232.89.

Waste Management Stock Up 2.2 %

WM stock traded up $4.84 during mid-day trading on Monday, hitting $225.10. 258,709 shares of the company were exchanged, compared to its average volume of 1,738,232. The company has a market capitalization of $90.35 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 2.57 and a beta of 0.78. 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 has a twelve month low of $187.20 and a twelve month high of $230.39. The firm has a fifty day simple moving average of $212.19 and a 200 day simple moving average of $211.24.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. On average, research analysts forecast that Waste Management will post 7.92 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now owns 3,875 shares of the company’s stock, valued at $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Several hedge funds have recently bought and sold shares of WM. Activest Wealth Management raised its holdings in Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after buying an additional 120 shares during the period. Global Wealth Strategies & Associates raised its holdings in shares of Waste Management by 892.9% in the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 125 shares during the last quarter. General Partner Inc. acquired a new stake in shares of Waste Management in the fourth quarter valued at approximately $29,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at approximately $35,000. Finally, Richardson Financial Services Inc. raised its holdings in shares of Waste Management by 65.7% in the fourth quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. 80.40% of the stock is currently 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.