Waste Management (NYSE:WM) Upgraded by StockNews.com to Strong-Buy Rating

Waste Management (NYSE:WM) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

A number of other equities analysts have also recently commented on the stock. Morgan Stanley upped their price target on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Truist Financial increased their target price on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group upped their price objective on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their target price on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Finally, CIBC lifted their price objective on shares of Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $226.11.

Waste Management Price Performance

Shares of NYSE:WM opened at $224.41 on Friday. Waste Management has a 12 month low of $168.73 and a 12 month high of $226.84. The firm has a market capitalization of $90.07 billion, a P/E ratio of 34.31, a P/E/G ratio of 2.36 and a beta of 0.74. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The company’s fifty day moving average price is $212.84 and its 200 day moving average price is $210.10.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 EPS. As a group, sell-side analysts predict that Waste Management will post 7.32 earnings per share for the current fiscal year.

Insider Activity at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aldebaran Financial Inc. lifted its position in Waste Management by 4.6% during the third quarter. Aldebaran Financial Inc. now owns 11,210 shares of the business services provider’s stock valued at $2,327,000 after buying an additional 489 shares in the last quarter. McIlrath & Eck LLC boosted its position in Waste Management by 0.7% during the 3rd quarter. McIlrath & Eck LLC now owns 12,706 shares of the business services provider’s stock worth $2,638,000 after purchasing an additional 84 shares during the period. Unigestion Holding SA increased its holdings in Waste Management by 28.2% in the 3rd quarter. Unigestion Holding SA now owns 174,293 shares of the business services provider’s stock valued at $36,154,000 after purchasing an additional 38,334 shares in the last quarter. Sunbelt Securities Inc. raised its position in Waste Management by 19.9% in the third quarter. Sunbelt Securities Inc. now owns 990 shares of the business services provider’s stock valued at $206,000 after purchasing an additional 164 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of Waste Management by 1.9% during the third quarter. Toronto Dominion Bank now owns 185,454 shares of the business services provider’s stock worth $38,500,000 after purchasing an additional 3,495 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Company Profile

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.