William Blair Initiates Coverage on Waste Management (NYSE:WM)

Analysts at William Blair initiated coverage on shares of Waste Management (NYSE:WM) in a report released on Thursday, MarketBeat reports. The firm set an “outperform” rating on the business services provider’s stock.

Several other equities research analysts have also commented on the stock. Truist Financial reduced their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Oppenheimer dropped their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. BMO Capital Markets lowered their target price on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research report on Friday, July 26th. Finally, CIBC lowered their target price on Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Twelve equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Stock Performance

NYSE:WM opened at $208.09 on Thursday. The stock has a market cap of $83.51 billion, a P/E ratio of 34.06, a price-to-earnings-growth ratio of 2.32 and a beta of 0.74. The firm’s fifty day simple moving average is $206.74 and its 200 day simple moving average is $208.55. Waste Management has a twelve month low of $152.90 and a twelve month high of $225.00. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21.

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

Insider Transactions at Waste Management

In related news, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Waste Management

A number of large investors have recently modified their holdings of the business. Hexagon Capital Partners LLC increased its stake in Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Waste Management during the second quarter worth $31,000. Opal Wealth Advisors LLC purchased a new position in Waste Management during the first quarter worth $35,000. Fairway Wealth LLC boosted its holdings in shares of Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Waste Management during the second quarter worth $36,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

About Waste Management

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.