BMO Capital Markets Boosts Waste Management (NYSE:WM) Price Target to $220.00

Waste Management (NYSE:WM) had its target price increased by equities research analysts at BMO Capital Markets from $213.00 to $220.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 1.92% from the company’s current price.

WM has been the topic of a number of other reports. Robert W. Baird dropped their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. William Blair began coverage on Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Truist Financial decreased their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. UBS Group lifted their price objective on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Scotiabank started coverage on shares of Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average target price of $226.05.

Waste Management Price Performance

Shares of WM opened at $215.85 on Wednesday. The firm has a market cap of $86.62 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. Waste Management has a 52-week low of $162.03 and a 52-week high of $225.00. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The business’s 50 day moving average price is $209.26 and its two-hundred day moving average price is $208.77.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the firm earned $1.63 earnings per share. Waste Management’s revenue was up 7.9% on a year-over-year basis. On average, equities analysts anticipate that Waste Management will post 7.24 EPS for the current year.

Institutional Trading of Waste Management

A number of large investors have recently bought and sold shares of WM. International Assets Investment Management LLC lifted its holdings in Waste Management by 94,414.4% during the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after purchasing an additional 2,588,842 shares during the last quarter. Sustainable Growth Advisers LP purchased a new stake in shares of Waste Management during the 1st quarter valued at approximately $300,594,000. Capital World Investors boosted its holdings in Waste Management by 44.6% in the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after buying an additional 1,303,466 shares during the period. Swedbank AB purchased a new position in Waste Management in the 1st quarter valued at approximately $193,955,000. Finally, Wulff Hansen & CO. lifted its position in shares of Waste Management by 20,402.6% during the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after acquiring an additional 863,846 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

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.