Waste Management (NYSE:WM – Get Rating) had its price target lowered by equities researchers at Morgan Stanley from $165.00 to $160.00 in a research note issued on Wednesday, The Fly reports. Morgan Stanley’s price target indicates a potential upside of 11.12% from the stock’s previous close.
Several other equities research analysts also recently commented on the company. BMO Capital Markets downgraded Waste Management from an “outperform” rating to a “market perform” rating and set a $174.00 target price for the company. in a report on Tuesday, April 12th. JPMorgan Chase & Co. assumed coverage on Waste Management in a report on Tuesday, March 1st. They set a “neutral” rating and a $153.00 target price for the company. Raymond James increased their price objective on Waste Management from $167.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, April 22nd. StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 28th. Finally, Bank of America raised Waste Management from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $155.00 to $165.00 in a research note on Friday, May 13th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $163.00.
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Shares of WM stock opened at $143.99 on Wednesday. The stock has a 50-day simple moving average of $156.62 and a 200 day simple moving average of $155.59. Waste Management has a fifty-two week low of $138.08 and a fifty-two week high of $170.18. The stock has a market capitalization of $59.79 billion, a P/E ratio of 31.72, a P/E/G ratio of 2.33 and a beta of 0.80. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.83.
Waste Management (NYSE:WM – Get Rating) last announced its earnings results on Tuesday, April 26th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.17. Waste Management had a return on equity of 29.67% and a net margin of 10.32%. The business had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter last year, the business posted $1.06 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. On average, sell-side analysts anticipate that Waste Management will post 5.55 earnings per share for the current year.
In other news, EVP John J. Morris sold 47,006 shares of the firm’s stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $168.10, for a total transaction of $7,901,708.60. Following the completion of the sale, the executive vice president now directly owns 95,461 shares of the company’s stock, valued at approximately $16,046,994.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nikolaj H. Sjoqvist sold 10,311 shares of the stock in a transaction dated Thursday, April 28th. The shares were sold at an average price of $166.57, for a total value of $1,717,503.27. Following the transaction, the senior vice president now directly owns 38,769 shares in the company, valued at approximately $6,457,752.33. The disclosure for this sale can be found here. Insiders have sold a total of 88,961 shares of company stock valued at $14,651,682 over the last ninety days. Company insiders own 0.18% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of WM. Norges Bank acquired a new stake in Waste Management in the 4th quarter valued at approximately $687,551,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in Waste Management by 7,498.0% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,005,882 shares of the business services provider’s stock valued at $334,782,000 after buying an additional 1,979,482 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in Waste Management in the 1st quarter valued at approximately $280,829,000. Aaron Wealth Advisors LLC grew its holdings in Waste Management by 15,459.1% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,687,232 shares of the business services provider’s stock valued at $10,645,000 after buying an additional 1,676,388 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Waste Management by 194.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,217,592 shares of the business services provider’s stock valued at $192,988,000 after buying an additional 804,708 shares during the last quarter. 80.37% of the stock is currently owned by institutional investors and hedge funds.
About Waste Management (Get Rating)
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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