Waste Management, Inc. (NYSE:WM) Given Average Rating of “Buy” by Brokerages
Waste Management, Inc. (NYSE:WM) has earned a consensus recommendation of “Buy” from the fourteen analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $74.94.
A number of analysts have recently commented on WM shares. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research report on Friday, April 28th. KeyCorp lifted their target price on Waste Management from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, May 11th.
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In other Waste Management news, Director Patrick W. Gross sold 487 shares of Waste Management stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total value of $36,369.16. Following the sale, the director now owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Pope sold 453 shares of Waste Management stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the completion of the sale, the director now directly owns 51,470 shares in the company, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. Insiders sold a total of 7,940 shares of company stock worth $575,603 in the last ninety days. 0.19% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Charter Trust Co. raised its stake in shares of Waste Management by 1.6% in the first quarter. Charter Trust Co. now owns 5,799 shares of the business services provider’s stock worth $423,000 after buying an additional 90 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its stake in shares of Waste Management by 4.2% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 278,733 shares of the business services provider’s stock worth $20,325,000 after buying an additional 11,138 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in shares of Waste Management by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 353,845 shares of the business services provider’s stock worth $25,803,000 after buying an additional 9,380 shares in the last quarter. Franklin Street Advisors Inc. NC raised its stake in shares of Waste Management by 7.5% in the first quarter. Franklin Street Advisors Inc. NC now owns 92,942 shares of the business services provider’s stock worth $6,777,000 after buying an additional 6,509 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Waste Management during the fourth quarter valued at approximately $934,000. 75.08% of the stock is currently owned by institutional investors.
Shares of Waste Management (NYSE WM) traded up 0.73% on Tuesday, reaching $75.64. The company had a trading volume of 2,201,731 shares. The company has a 50 day moving average of $73.79 and a 200-day moving average of $72.37. Waste Management has a 52 week low of $61.08 and a 52 week high of $75.97. The company has a market capitalization of $33.43 billion, a P/E ratio of 27.60 and a beta of 0.71.
Waste Management (NYSE:WM) last posted its earnings results on Wednesday, April 26th. The business services provider reported $0.66 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.66. Waste Management had a return on equity of 24.76% and a net margin of 8.81%. The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. Analysts predict that Waste Management will post $3.18 earnings per share for the current fiscal year.
About Waste Management
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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