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

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

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. lifted their price objective on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Truist Financial raised their target price on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group boosted their price target on shares of Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. William Blair initiated coverage on shares of Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Finally, Royal Bank of Canada upped their target price on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $226.11.

Waste Management Price Performance

Shares of Waste Management stock opened at $217.90 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The firm has a fifty day simple moving average of $211.61 and a 200-day simple moving average of $209.67. The stock has a market capitalization of $87.46 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 2.34 and a beta of 0.74. Waste Management has a 1-year low of $168.73 and a 1-year high of $226.84.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm posted $1.63 EPS. The company’s revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts expect that Waste Management will post 7.3 earnings per share for the current year.

Insider Transactions at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the business’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 transaction of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares in the company, valued at $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Several institutional investors and hedge funds have recently modified their holdings of the stock. Aberdeen Wealth Management LLC grew its stake in Waste Management by 1.1% in the 3rd 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 during the period. Signature Estate & Investment Advisors LLC raised 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. ARS Wealth Advisors Group LLC lifted its stake in Waste Management by 3.1% in the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after purchasing an additional 47 shares during the last quarter. Benchmark Financial Wealth Advisors LLC increased its position in Waste Management by 1.9% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock worth $546,000 after buying an additional 49 shares during the last quarter. Finally, Balboa Wealth Partners lifted its position in shares of Waste Management by 4.1% during the 3rd quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock valued at $256,000 after buying an additional 49 shares during 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.