Waste Management (NYSE:WM) Price Target Cut to $235.00

Waste Management (NYSE:WM) had its target price decreased by stock analysts at Truist Financial from $240.00 to $235.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Truist Financial’s target price would indicate a potential upside of 9.95% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Erste Group Bank reissued a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. TD Cowen raised their target price on shares of Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Morgan Stanley lifted their price target on shares of Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Raymond James lifted their price target on shares of Waste Management from $219.00 to $229.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.33.

Waste Management Trading Up 0.9 %

NYSE WM opened at $213.74 on Thursday. Waste Management has a one year low of $149.71 and a one year high of $214.54. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. The firm’s fifty day moving average is $208.36 and its two-hundred day moving average is $202.05. The firm has a market cap of $85.73 billion, a PE ratio of 34.98, a P/E/G ratio of 2.46 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the business posted $1.31 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts expect that Waste Management will post 7.31 earnings per share for the current year.

Insider Buying and Selling at Waste Management

In related news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the transaction, the vice president now directly owns 45,644 shares in the company, valued at approximately $9,324,156.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

Hedge funds have recently made changes to their positions in the business. Sitrin Capital Management LLC increased its holdings in Waste Management by 0.3% in the 2nd quarter. Sitrin Capital Management LLC now owns 32,226 shares of the business services provider’s stock worth $6,875,000 after acquiring an additional 111 shares during the last quarter. Fermata Advisors LLC bought a new stake in shares of Waste Management during the second quarter valued at about $305,000. Ignite Planners LLC bought a new stake in shares of Waste Management during the second quarter valued at about $207,000. Country Trust Bank increased its position in shares of Waste Management by 150.0% during the second quarter. Country Trust Bank now owns 225 shares of the business services provider’s stock valued at $48,000 after buying an additional 135 shares during the period. Finally, Diversify Advisory Services LLC increased its position in shares of Waste Management by 1.4% during the second quarter. Diversify Advisory Services LLC now owns 8,707 shares of the business services provider’s stock valued at $1,829,000 after buying an additional 124 shares during the period. 80.40% of the stock is currently owned by 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.