Waste Management, Inc. (WM) Receives Consensus Rating of “Hold” from Analysts
Shares of Waste Management, Inc. (NYSE:WM) have received a consensus rating of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $74.74.
Several equities analysts recently issued reports on the company. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. KeyCorp increased their price target on Waste Management from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, May 11th. Finally, Credit Suisse Group increased their price target on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 28th.
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In other Waste Management news, Director John C. Pope sold 453 shares of the stock in a transaction dated 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 owns 51,470 shares in the company, valued at approximately $3,828,338.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James C. Fish, Jr. sold 3,500 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $72.19, for a total transaction of $252,665.00. Following the completion of the sale, the chief executive officer now owns 151,162 shares of the company’s stock, valued at approximately $10,912,384.78. The disclosure for this sale can be found here. Insiders sold a total of 4,440 shares of company stock worth $322,728 over the last ninety days. 0.19% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in WM. Shine Investment Advisory Services Inc. purchased a new stake in shares of Waste Management during the second quarter worth about $101,000. Northwest Investment Counselors LLC purchased a new stake in shares of Waste Management during the second quarter worth about $103,000. Bruderman Asset Management LLC purchased a new stake in shares of Waste Management during the second quarter worth about $110,000. Guardian Life Insurance Co. of America increased its stake in shares of Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after buying an additional 14 shares in the last quarter. Finally, FTB Advisors Inc. increased its stake in shares of Waste Management by 4.3% in the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock worth $116,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 75.53% of the company’s stock.
Waste Management (NYSE WM) traded down 0.37% on Friday, reaching $75.25. The company’s stock had a trading volume of 1,555,063 shares. Waste Management has a 12 month low of $61.08 and a 12 month high of $76.33. The firm has a 50 day moving average of $74.81 and a 200 day moving average of $73.07. The firm has a market cap of $33.11 billion, a price-to-earnings ratio of 25.77 and a beta of 0.71.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 earnings per share. Analysts anticipate that Waste Management will post $3.19 earnings per share for the current 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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