William Blair Begins Coverage on Waste Management (NYSE:WM)

Research analysts at William Blair assumed coverage on shares of Waste Management (NYSE:WM) in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage set an “outperform” rating on the business services provider’s stock.

A number of other research firms also recently issued reports on WM. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Erste Group Bank reissued a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Robert W. Baird decreased their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Finally, Royal Bank of Canada dropped their price target on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.83.

Waste Management Stock Performance

NYSE:WM opened at $207.32 on Thursday. The stock has a 50-day moving average price of $206.34 and a 200 day moving average price of $208.57. The stock has a market capitalization of $83.20 billion, a P/E ratio of 33.93, a P/E/G ratio of 2.30 and a beta of 0.74. Waste Management has a 12-month low of $149.71 and a 12-month high of $225.00. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter last year, the business posted $1.51 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts forecast that Waste Management will post 7.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WM. Hexagon Capital Partners LLC raised its position in shares of Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Waste Management in the second quarter worth about $31,000. Opal Wealth Advisors LLC purchased a new stake in shares of Waste Management during the first quarter valued at about $35,000. Fairway Wealth LLC boosted its holdings in shares of Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after buying an additional 66 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Waste Management in the 2nd quarter worth approximately $36,000. Hedge funds and other 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.