Waste Management (NYSE:WM) Given New $240.00 Price Target at UBS Group

Waste Management (NYSE:WM) had its target price boosted by investment analysts at UBS Group from $230.00 to $240.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. UBS Group’s price target would suggest a potential upside of 6.19% from the stock’s previous close.

Several other brokerages have also recently weighed in on WM. CIBC increased their price objective on shares of Waste Management from $227.00 to $247.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Morgan Stanley boosted their price objective on shares of Waste Management from $227.00 to $235.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Scotiabank raised their target price on Waste Management from $255.00 to $260.00 and gave the stock a “sector outperform” rating in a report on Tuesday. StockNews.com lowered Waste Management from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Raymond James lifted their price objective on Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and an average price target of $237.76.

Waste Management Stock Performance

Shares of WM stock traded down $0.44 during trading hours on Friday, reaching $226.01. The company had a trading volume of 230,027 shares, compared to its average volume of 1,631,415. Waste Management has a one year low of $196.59 and a one year high of $239.32. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.85 and a current ratio of 0.76. The business has a fifty day moving average price of $227.19 and a 200-day moving average price of $218.04. The firm has a market cap of $90.93 billion, a PE ratio of 33.25, a price-to-earnings-growth ratio of 2.71 and a beta of 0.66.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. Sell-side analysts predict that Waste Management will post 7.7 earnings per share for the current fiscal year.

Insider Activity at Waste Management

In related news, SVP Johnson Varkey sold 124 shares of Waste Management stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $234.96, for a total value of $29,135.04. Following the completion of the transaction, the senior vice president now owns 8,491 shares in the company, valued at approximately $1,995,045.36. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO John A. Carroll sold 209 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.55, for a total value of $46,094.95. Following the sale, the chief accounting officer now owns 9,066 shares in the company, valued at approximately $1,999,506.30. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,577 shares of company stock valued at $21,662,464. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Waste Management

Large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Waste Management during the fourth quarter worth $1,009,726,000. GAMMA Investing LLC grew its holdings in Waste Management by 26,095.2% during the 1st quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider’s stock valued at $442,038,000 after purchasing an additional 1,902,081 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Waste Management in the 4th quarter worth about $340,611,000. Capital Research Global Investors boosted its position in shares of Waste Management by 250.1% during the fourth quarter. Capital Research Global Investors now owns 1,658,733 shares of the business services provider’s stock valued at $334,716,000 after buying an additional 1,184,905 shares during the period. Finally, Parnassus Investments LLC grew its stake in shares of Waste Management by 22.5% during the fourth quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider’s stock valued at $1,265,629,000 after buying an additional 1,151,237 shares during the last quarter. Institutional investors 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.