Waste Management (NYSE:WM) Rating Increased to Strong-Buy at StockNews.com

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

A number of other brokerages have also issued reports on WM. Truist Financial increased their target price on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group raised their price objective on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Scotiabank began coverage on Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price for the company. BMO Capital Markets boosted their price objective on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, CIBC raised their target price on Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $230.72.

Waste Management Price Performance

Shares of NYSE:WM opened at $205.02 on Wednesday. The firm’s 50 day moving average is $216.74 and its two-hundred day moving average is $211.52. The firm has a market capitalization of $82.29 billion, a P/E ratio of 31.35, a PEG ratio of 2.36 and a beta of 0.75. 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 52 week low of $176.68 and a 52 week high of $230.39.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the firm earned $1.63 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. Analysts anticipate that Waste Management will post 7.32 earnings per share for the current year.

Insider Activity

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Waste Management

Several hedge funds and other institutional investors have recently modified their holdings of the company. Activest Wealth Management increased its position in Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after purchasing an additional 120 shares during the last quarter. Fairway Wealth LLC raised its position in Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Waste Management during the 2nd quarter worth $36,000. Fairscale Capital LLC bought a new position in shares of Waste Management during the 2nd quarter valued at $39,000. Finally, DHJJ Financial Advisors Ltd. lifted its stake in shares of Waste Management by 51.8% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 211 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 72 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

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.