Waste Management (NYSE:WM) Given New $270.00 Price Target at UBS Group

Waste Management (NYSE:WM) had its price target upped by UBS Group from $265.00 to $270.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. UBS Group’s price target points to a potential upside of 19.64% from the stock’s previous close.

A number of other equities research analysts also recently commented on WM. Oppenheimer decreased their target price on Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 8th. Robert W. Baird upped their target price on shares of Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. lifted their price target on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Wells Fargo & Company cut their target price on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Finally, TD Cowen increased their price target on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $258.89.

Waste Management Price Performance

WM traded down $0.76 during trading on Tuesday, reaching $225.67. 1,639,029 shares of the company traded hands, compared to its average volume of 2,176,520. The company has a market cap of $90.20 billion, a P/E ratio of 31.96, a PEG ratio of 2.79 and a beta of 0.44. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91. Waste Management has a 12-month low of $194.11 and a 12-month high of $248.13. The firm has a fifty day simple moving average of $225.69 and a 200 day simple moving average of $227.73.

Waste Management (NYSE:WM) last posted its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.04. The company had revenue of $6.68 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. Waste Management’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the company posted $1.92 earnings per share. On average, equities analysts forecast that Waste Management will post 8.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WM. Norges Bank acquired a new stake in shares of Waste Management in the fourth quarter valued at $1,022,916,000. Corient Private Wealth LLC grew its position in shares of Waste Management by 279.0% during the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock worth $236,387,000 after acquiring an additional 792,037 shares during the last quarter. Diamant Asset Management Inc. lifted its position in Waste Management by 23,051.5% during the 1st quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock worth $17,716,000 after acquiring an additional 767,615 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Waste Management by 3,209.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider’s stock worth $150,466,000 after acquiring an additional 660,776 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Waste Management by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider’s stock valued at $8,566,508,000 after purchasing an additional 553,605 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Company Profile

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.