Waste Management (NYSE:WM) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Waste Management (NYSE:WM) had its price target boosted by equities research analysts at BMO Capital Markets from $241.00 to $245.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ price objective points to a potential upside of 8.00% from the company’s current price.

A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. upgraded shares of Waste Management from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $225.00 to $277.00 in a research note on Friday, May 23rd. HSBC raised Waste Management from a “hold” rating to a “buy” rating and upped their price target for the company from $210.00 to $265.00 in a report on Friday, April 25th. Wall Street Zen raised Waste Management from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. William Blair reissued an “outperform” rating on shares of Waste Management in a research note on Wednesday. Finally, Seaport Res Ptn raised shares of Waste Management to a “hold” rating in a research note on Tuesday, May 6th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.71.

Waste Management Stock Performance

Shares of NYSE WM opened at $226.86 on Wednesday. Waste Management has a 12-month low of $196.59 and a 12-month high of $242.58. The company has a market cap of $91.29 billion, a PE ratio of 34.22, a P/E/G ratio of 3.02 and a beta of 0.66. The stock has a 50 day simple moving average of $233.08 and a 200-day simple moving average of $224.30. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 2.65.

Waste Management (NYSE:WM) last announced its earnings results on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.08. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.14 billion. During the same quarter in the previous year, the business earned $1.75 EPS. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities research analysts forecast that Waste Management will post 7.7 EPS for the current year.

Insider Activity at Waste Management

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the sale, the chief financial officer now owns 83,934 shares of the company’s stock, valued at $19,922,574.24. The trade was a 40.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total transaction of $159,609.94. Following the sale, the senior vice president now owns 16,542 shares in the company, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Waste Management

Hedge funds have recently modified their holdings of the stock. Westend Capital Management LLC lifted its holdings in shares of Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 66 shares during the period. Transce3nd LLC acquired a new stake in shares of Waste Management during the 4th quarter worth about $28,000. West Branch Capital LLC lifted its holdings in Waste Management by 69.0% during the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 49 shares during the last quarter. Halbert Hargrove Global Advisors LLC acquired a new position in Waste Management in the fourth quarter valued at about $33,000. Finally, Hurley Capital LLC bought a new stake in Waste Management during the fourth quarter worth about $34,000. 80.40% of the stock is 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.