Waste Management (NYSE:WM) Price Target Raised to $231.00 at Oppenheimer

Waste Management (NYSE:WM) had its price target increased by Oppenheimer from $230.00 to $231.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price objective would indicate a potential upside of 5.75% from the stock’s previous close.

A number of other brokerages have also weighed in on WM. UBS Group increased their price objective on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley raised their target price on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial increased their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their price target on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $226.11.

Waste Management Price Performance

Shares of WM stock opened at $218.45 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. Waste Management has a twelve month low of $168.73 and a twelve month high of $225.00. The stock has a fifty day simple moving average of $209.76 and a two-hundred day simple moving average of $209.06. The stock has a market capitalization of $87.68 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 2.26 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. Waste Management’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts predict that Waste Management will post 7.31 EPS for the current fiscal year.

Insider Activity at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its position in shares of Waste Management by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after buying an additional 12,664 shares during the period. Capital World Investors lifted its position in shares of Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after purchasing an additional 1,303,466 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Waste Management by 6.8% in the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after purchasing an additional 243,900 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Waste Management by 94,414.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after buying an additional 2,588,842 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Waste Management by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock worth $473,047,000 after acquiring an additional 221,380 shares in the last quarter. 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.