StockNews.com Downgrades Waste Management (NYSE:WM) to Buy

Waste Management (NYSE:WM) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Several other analysts also recently weighed in on WM. CIBC upped their price target on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price target on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets raised their price objective on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. William Blair initiated coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Finally, Argus raised their price target on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $230.72.

Waste Management Trading Up 0.6 %

WM opened at $201.65 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management has a 52 week low of $176.68 and a 52 week high of $230.39. The stock has a market cap of $80.94 billion, a PE ratio of 30.83, a PEG ratio of 2.36 and a beta of 0.75. The business has a 50 day moving average of $215.82 and a 200-day moving average of $211.53.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping 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 firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the firm earned $1.63 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts predict that Waste Management will post 7.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the transaction, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Waste Management

Hedge funds and other institutional investors have recently modified their holdings of the stock. Aberdeen Wealth Management LLC raised its stake in Waste Management by 1.1% during the third quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock valued at $857,000 after purchasing an additional 45 shares in the last quarter. Signature Estate & Investment Advisors LLC boosted its holdings in shares of Waste Management by 3.9% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after purchasing an additional 46 shares during the period. Benchmark Financial Wealth Advisors LLC raised its holdings in Waste Management by 1.9% during the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock valued at $546,000 after buying an additional 49 shares during the period. Balboa Wealth Partners boosted its stake in Waste Management by 4.1% during the third quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock worth $256,000 after buying an additional 49 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Waste Management by 3.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,380 shares of the business services provider’s stock valued at $294,000 after acquiring an additional 50 shares during the period. Institutional investors own 80.40% of the company’s stock.

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.