UBS Group Issues Positive Forecast for Waste Management (NYSE:WM) Stock Price

Waste Management (NYSE:WM) had its target price boosted by stock analysts at UBS Group from $220.00 to $226.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. UBS Group’s price objective indicates a potential upside of 3.98% from the stock’s previous close.

A number of other research analysts have also issued reports on WM. Scotiabank started coverage on shares of Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price on the stock. CIBC reduced their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Oppenheimer decreased their price objective on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Finally, Truist Financial reduced their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.44.

Waste Management Stock Performance

Shares of WM traded down $1.76 during mid-day trading on Wednesday, hitting $217.35. 484,662 shares of the company’s stock were exchanged, compared to its average volume of 1,616,072. The firm has a market capitalization of $87.23 billion, a P/E ratio of 34.61, a P/E/G ratio of 2.29 and a beta of 0.74. Waste Management has a fifty-two week low of $162.03 and a fifty-two week high of $225.00. The business’s 50 day moving average is $209.03 and its two-hundred day moving average is $208.67. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 earnings per share. On average, equities analysts expect that Waste Management will post 7.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Trium Capital LLP boosted its holdings in shares of Waste Management by 33.6% during the 3rd quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock valued at $2,498,000 after acquiring an additional 3,029 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in Waste Management by 77.4% in the third quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock valued at $2,553,000 after buying an additional 5,367 shares during the period. Pinkerton Retirement Specialists LLC grew its holdings in Waste Management by 18.6% during the 1st quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock worth $4,284,000 after acquiring an additional 3,145 shares during the period. Norden Group LLC acquired a new stake in Waste Management during the first quarter worth approximately $7,146,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Waste Management by 417.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock worth $720,000 after buying an additional 2,800 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

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.