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

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

A number of other equities analysts have also recently issued reports on the stock. Truist Financial raised their target price on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Stifel Nicolaus raised their price target on shares of Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada raised their price target 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. Morgan Stanley raised their price target on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Argus raised their price target on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Ten research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $230.72.

Waste Management Stock Performance

Shares of NYSE WM opened at $211.68 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The firm’s 50-day moving average price is $217.78 and its two-hundred day moving average price is $211.52. Waste Management has a 52-week low of $175.01 and a 52-week high of $230.39. The stock has a market capitalization of $84.96 billion, a P/E ratio of 32.37, a P/E/G ratio of 2.36 and a beta of 0.75.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company posted $1.63 earnings per share. Waste Management’s revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts forecast that Waste Management will post 7.32 earnings per share for the current year.

Insider Buying and Selling at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Waste Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. 1ST Source Bank grew its position in Waste Management by 3.3% during the 3rd quarter. 1ST Source Bank now owns 16,578 shares of the business services provider’s stock worth $3,442,000 after purchasing an additional 530 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in Waste Management during the 3rd quarter worth approximately $1,878,000. Franklin Resources Inc. grew its position in Waste Management by 11.2% during the 3rd quarter. Franklin Resources Inc. now owns 404,121 shares of the business services provider’s stock worth $86,279,000 after purchasing an additional 40,609 shares in the last quarter. Asset Advisors Investment Management LLC grew its position in Waste Management by 3.6% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 32,716 shares of the business services provider’s stock worth $6,792,000 after purchasing an additional 1,132 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in Waste Management by 491.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 11,435 shares of the business services provider’s stock worth $2,374,000 after purchasing an additional 9,502 shares in the last quarter. 80.40% of the stock is currently 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.