The Goldman Sachs Group Begins Coverage on Waste Management (NYSE:WM)

Stock analysts at The Goldman Sachs Group started coverage on shares of Waste Management (NYSE:WM) in a note issued to investors on Monday, MarketBeat reports. The firm set a “buy” rating and a $256.00 price target on the business services provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 18.42% from the stock’s current price.

Other analysts have also recently issued reports about the stock. CIBC lowered their price objective on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Barclays dropped their price target on Waste Management from $271.00 to $266.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $262.00 price objective on shares of Waste Management in a research note on Wednesday, October 29th. Cowen reissued a “buy” rating on shares of Waste Management in a research report on Wednesday, October 29th. Finally, BMO Capital Markets lifted their price target on shares of Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a research report on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $248.68.

Waste Management Price Performance

WM stock opened at $216.18 on Monday. The stock’s fifty day simple moving average is $212.30 and its 200-day simple moving average is $223.33. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.36. Waste Management has a 52-week low of $194.11 and a 52-week high of $242.58. The stock has a market capitalization of $87.09 billion, a price-to-earnings ratio of 34.04, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter last year, the firm earned $1.96 EPS. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts expect that Waste Management will post 7.7 EPS for the current year.

Insider Activity at Waste Management

In related news, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the completion of the transaction, the senior vice president owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Waste Management

A number of institutional investors have recently made changes to their positions in the business. Cornerstone Planning Group LLC raised its holdings in Waste Management by 101.5% in the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 67 shares in the last quarter. JPL Wealth Management LLC acquired a new position in Waste Management in the third quarter worth about $30,000. Saudi Central Bank bought a new stake in Waste Management in the first quarter valued at about $37,000. GKV Capital Management Co. Inc. bought a new position in Waste Management during the 1st quarter worth approximately $38,000. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Waste Management in the 2nd quarter worth approximately $40,000. 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.