Waste Management (NYSE:WM) had its price objective boosted by Raymond James from $110.00 to $114.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. Raymond James currently has an outperform rating on the business services provider’s stock.
WM has been the subject of several other research reports. BMO Capital Markets dropped their price objective on shares of Waste Management from $132.00 to $111.00 in a report on Tuesday, March 31st. CIBC cut Waste Management from a sector outperform rating to a neutral rating in a report on Tuesday, July 14th. Royal Bank of Canada lowered Waste Management from an outperform rating to a sector perform rating in a research note on Sunday, April 19th. Oppenheimer assumed coverage on Waste Management in a research note on Wednesday, June 24th. They issued a buy rating and a $117.00 target price for the company. Finally, Stifel Nicolaus reiterated a buy rating and set a $115.00 price target on shares of Waste Management in a research report on Thursday, July 9th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Waste Management currently has a consensus rating of Buy and a consensus price target of $116.50.
Waste Management stock opened at $109.60 on Wednesday. The firm has a market capitalization of $46.25 billion, a P/E ratio of 28.99, a P/E/G ratio of 5.05 and a beta of 0.74. The stock has a fifty day moving average price of $105.14 and a two-hundred day moving average price of $107.39. Waste Management has a 52-week low of $85.34 and a 52-week high of $126.79. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.88 and a quick ratio of 1.80.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, July 30th. The business services provider reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.07. Waste Management had a net margin of 10.66% and a return on equity of 25.84%. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.50 billion. On average, equities research analysts predict that Waste Management will post 3.77 EPS for the current fiscal year.
In other news, Director John C. Pope sold 315 shares of Waste Management stock in a transaction that occurred on Thursday, July 16th. The shares were sold at an average price of $106.87, for a total transaction of $33,664.05. Following the completion of the sale, the director now owns 54,269 shares in the company, valued at approximately $5,799,728.03. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Capital Research Global Investors grew its holdings in Waste Management by 8.9% during the first quarter. Capital Research Global Investors now owns 4,403,171 shares of the business services provider’s stock valued at $407,558,000 after purchasing an additional 358,063 shares during the period. Pictet Asset Management Ltd. increased its position in shares of Waste Management by 13.1% in the 1st quarter. Pictet Asset Management Ltd. now owns 4,184,643 shares of the business services provider’s stock valued at $387,330,000 after buying an additional 485,860 shares in the last quarter. Advisor Group Holdings Inc. acquired a new stake in Waste Management during the 1st quarter worth $27,510,000. California Public Employees Retirement System lifted its holdings in Waste Management by 1.7% during the first quarter. California Public Employees Retirement System now owns 3,584,382 shares of the business services provider’s stock worth $331,770,000 after acquiring an additional 61,304 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Waste Management by 7.3% during the first quarter. Bank of New York Mellon Corp now owns 3,311,714 shares of the business services provider’s stock worth $306,532,000 after acquiring an additional 225,012 shares in the last quarter. 73.45% of the stock is currently owned by institutional investors.
Waste Management Company Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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