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

Waste Management (NYSE:WM) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

Several other analysts have also recently commented on the stock. Oppenheimer lowered their target price on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. CIBC dropped their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Truist Financial decreased their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Royal Bank of Canada dropped their price objective on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Finally, Erste Group Bank reissued a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average target price of $215.83.

Waste Management Stock Down 0.3 %

Shares of NYSE WM opened at $207.32 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The firm has a 50-day moving average price of $206.34 and a 200 day moving average price of $208.57. Waste Management has a 52 week low of $149.71 and a 52 week high of $225.00. The stock has a market capitalization of $83.20 billion, a price-to-earnings ratio of 33.93, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74.

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

Insider Buying and Selling at Waste Management

In related news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the transaction, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Waste Management

Several institutional investors have recently modified their holdings of WM. NEOS Investment Management LLC lifted its position in Waste Management by 38.9% in the fourth quarter. NEOS Investment Management LLC now owns 5,181 shares of the business services provider’s stock worth $928,000 after purchasing an additional 1,452 shares during the period. Rafferty Asset Management LLC grew its holdings in Waste Management by 4.9% during the fourth quarter. Rafferty Asset Management LLC now owns 30,746 shares of the business services provider’s stock worth $5,507,000 after acquiring an additional 1,431 shares during the period. CIBC Private Wealth Group LLC raised its position in Waste Management by 3.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 84,273 shares of the business services provider’s stock worth $15,093,000 after acquiring an additional 2,505 shares in the last quarter. Edge Capital Group LLC lifted its holdings in Waste Management by 6.2% in the 4th quarter. Edge Capital Group LLC now owns 5,706 shares of the business services provider’s stock valued at $1,022,000 after acquiring an additional 331 shares during the last quarter. Finally, Lake Street Advisors Group LLC acquired a new position in shares of Waste Management in the 4th quarter worth approximately $345,000. 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.