Waste Management (NYSE:WM) Stock Rating Lowered by StockNews.com

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

A number of other equities research analysts also recently issued reports on WM. Truist Financial reduced their price objective on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. CIBC cut their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Finally, Scotiabank assumed coverage on Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price objective for the company. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Stock Down 0.5 %

NYSE WM opened at $211.25 on Wednesday. The company’s 50 day simple moving average is $207.18 and its 200 day simple moving average is $208.46. The company has a market capitalization of $84.78 billion, a P/E ratio of 34.57, a PEG ratio of 2.33 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. Waste Management has a 12 month low of $153.95 and a 12 month high of $225.00.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period last year, the business earned $1.51 earnings per share. Waste Management’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts expect that Waste Management will post 7.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of Waste Management 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 transaction, the vice president now directly owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Waste Management

Institutional investors have recently modified their holdings of the stock. ARS Wealth Advisors Group LLC boosted its holdings in shares of Waste Management by 3.1% during the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after purchasing an additional 47 shares during the last quarter. McClarren Financial Advisors Inc. lifted its holdings in shares of Waste Management by 29.7% during the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after purchasing an additional 49 shares during the period. Mayflower Financial Advisors LLC increased its holdings in Waste Management by 1.2% in the first quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock valued at $911,000 after buying an additional 50 shares in the last quarter. Cypress Asset Management Inc. TX increased its position in Waste Management by 1.2% during the 1st quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock worth $907,000 after purchasing an additional 50 shares in the last quarter. Finally, GYL Financial Synergies LLC increased its stake in shares of Waste Management by 3.8% during the 2nd quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock valued at $290,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

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.