Waste Management (NYSE:WM) Rating Increased to Sector Outperform at Scotiabank

Waste Management (NYSE:WM) was upgraded by investment analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has a $250.00 target price on the business services provider’s stock, up from their prior target price of $225.00. Scotiabank’s target price suggests a potential upside of 19.37% from the stock’s current price.

A number of other analysts have also issued reports on the company. Truist Financial boosted their price objective on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 4th. JPMorgan Chase & Co. upped their target price on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their target price on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group decreased their target price on Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research note on Thursday. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $231.39.

Waste Management Trading Down 0.3 %

Shares of Waste Management stock opened at $209.43 on Monday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management has a 52 week low of $183.00 and a 52 week high of $230.39. The stock has a 50 day moving average price of $212.64 and a two-hundred day moving average price of $211.28. The stock has a market capitalization of $84.06 billion, a PE ratio of 32.02, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77.

Waste Management (NYSE:WM) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.63 earnings per share. As a group, equities analysts anticipate that Waste Management will post 7.3 earnings per share for the current fiscal year.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction 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 transaction, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Waste Management

Institutional investors and hedge funds have recently bought and sold shares of the business. Public Sector Pension Investment Board increased its holdings in shares of Waste Management by 167.1% in the second quarter. Public Sector Pension Investment Board now owns 9,235 shares of the business services provider’s stock worth $1,970,000 after purchasing an additional 5,777 shares during the last quarter. Magnolia Capital Advisors LLC increased its holdings in shares of Waste Management by 145.7% in the second quarter. Magnolia Capital Advisors LLC now owns 3,283 shares of the business services provider’s stock worth $700,000 after purchasing an additional 1,947 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Waste Management by 11.4% in the second quarter. NewEdge Advisors LLC now owns 43,413 shares of the business services provider’s stock worth $9,262,000 after purchasing an additional 4,435 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Waste Management by 106.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 118,794 shares of the business services provider’s stock worth $25,344,000 after purchasing an additional 61,142 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in shares of Waste Management by 9.5% in the second quarter. Sunbelt Securities Inc. now owns 826 shares of the business services provider’s stock worth $176,000 after purchasing an additional 72 shares during the last quarter. 80.40% of the stock is owned by 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.