Waste Management, Inc. (NYSE:WM) had its price objective lifted by investment analysts at Credit Suisse Group from $80.00 to $85.00 in a research report issued to clients and investors on Wednesday, June 28th. The firm presently has an “outperform” rating on the business services provider’s stock. Credit Suisse Group’s price target would indicate a potential upside of 14.09% from the company’s previous close.
A number of other equities research analysts also recently weighed in on WM. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Tuesday, February 28th. Barclays PLC downgraded Waste Management from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $70.00 to $73.00 in a research note on Wednesday, March 1st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $74.08.
Shares of Waste Management (NYSE WM) opened at 74.50 on Wednesday. The company has a market cap of $32.92 billion, a price-to-earnings ratio of 27.18 and a beta of 0.71. The stock has a 50 day moving average of $72.70 and a 200 day moving average of $71.94. Waste Management has a 12-month low of $61.08 and a 12-month high of $74.62.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, April 26th. The business services provider reported $0.66 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.66. Waste Management had a return on equity of 24.76% and a net margin of 8.81%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the business earned $0.58 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts forecast that Waste Management will post $3.18 earnings per share for the current year.
In other news, SVP Barry H. Caldwell sold 8,142 shares of Waste Management stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $73.52, for a total transaction of $598,599.84. Following the sale, the senior vice president now owns 35,916 shares of the company’s stock, valued at approximately $2,640,544.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James C. Fish, Jr. sold 3,500 shares of Waste Management stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $72.19, for a total value of $252,665.00. Following the sale, the chief executive officer now directly owns 151,162 shares in the company, valued at approximately $10,912,384.78. The disclosure for this sale can be found here. Insiders sold a total of 15,142 shares of company stock worth $1,104,140 in the last ninety days. Insiders own 0.19% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in Waste Management during the second quarter valued at approximately $103,000. Quadrant Capital Group LLC increased its position in Waste Management by 5.8% in the first quarter. Quadrant Capital Group LLC now owns 1,424 shares of the business services provider’s stock valued at $100,000 after buying an additional 78 shares during the period. Guardian Life Insurance Co. of America increased its position in Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock valued at $114,000 after buying an additional 14 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in shares of Waste Management during the first quarter valued at about $127,000. Finally, Parallel Advisors LLC increased its position in shares of Waste Management by 38.1% in the first quarter. Parallel Advisors LLC now owns 1,787 shares of the business services provider’s stock valued at $130,000 after buying an additional 493 shares during the last quarter. 74.98% of the stock is currently owned by institutional investors.
Waste Management Company Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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