Waste Management (NYSE:WM) Price Target Raised to $269.00

Waste Management (NYSE:WM) had its target price upped by stock analysts at Citigroup from $263.00 to $269.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Citigroup’s price objective indicates a potential upside of 16.15% from the stock’s current price.

WM has been the topic of several other reports. Wells Fargo & Company cut their target price on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. TD Cowen lifted their target price on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Wolfe Research began coverage on shares of Waste Management in a research report on Friday, March 13th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. upped their price objective on Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Finally, Robert W. Baird raised their price target on shares of Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Sixteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $256.20.

Waste Management Price Performance

Shares of WM stock traded down $0.07 on Friday, reaching $231.60. The company had a trading volume of 316,510 shares, compared to its average volume of 2,215,096. Waste Management has a one year low of $194.11 and a one year high of $248.13. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The stock has a market capitalization of $93.01 billion, a PE ratio of 33.52, a price-to-earnings-growth ratio of 2.45 and a beta of 0.44. The business’s 50-day moving average is $220.72 and its 200 day moving average is $225.87.

Waste Management (NYSE:WM) last issued its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts forecast that Waste Management will post 8.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in Waste Management during the 4th quarter valued at approximately $1,022,916,000. Holocene Advisors LP raised its position in shares of Waste Management by 163.7% in the 3rd quarter. Holocene Advisors LP now owns 1,400,701 shares of the business services provider’s stock worth $309,317,000 after purchasing an additional 869,453 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Waste Management by 279.0% in the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock worth $236,387,000 after buying an additional 792,037 shares in the last quarter. Diamant Asset Management Inc. increased its holdings in shares of Waste Management by 23,051.5% in the 1st quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock worth $17,716,000 after purchasing an additional 767,615 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its position in Waste Management by 3,209.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider’s stock worth $150,466,000 after buying an additional 660,776 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

About Waste Management

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.