Raymond James Boosts Waste Management (NYSE:WM) Price Target to $229.00

Waste Management (NYSE:WM) had its price target raised by investment analysts at Raymond James from $219.00 to $229.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Raymond James’ price target points to a potential upside of 8.49% from the stock’s previous close.

Other research analysts have also issued reports about the company. Stifel Nicolaus increased their price objective on Waste Management from $215.00 to $227.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada raised their target price on Waste Management from $211.00 to $215.00 and gave the stock a “sector perform” rating in a report on Friday. Truist Financial raised their target price on Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Friday. Citigroup raised their target price on Waste Management from $215.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Finally, HSBC lowered Waste Management from a “buy” rating to a “hold” rating and set a $210.00 target price on the stock. in a report on Thursday, February 15th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average target price of $214.21.

Waste Management Stock Down 0.8 %

Shares of NYSE WM traded down $1.63 during mid-day trading on Friday, reaching $211.07. 859,300 shares of the company were exchanged, compared to its average volume of 1,661,020. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 2.30. The stock has a market cap of $84.70 billion, a price-to-earnings ratio of 34.56, a P/E/G ratio of 3.19 and a beta of 0.72. Waste Management has a 1 year low of $149.71 and a 1 year high of $214.54. The firm has a 50-day moving average of $208.37 and a 200 day moving average of $186.50.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.23. The company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a return on equity of 38.82% and a net margin of 11.98%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.31 EPS. On average, research analysts expect that Waste Management will post 6.88 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Devina A. Rankin sold 775 shares of Waste Management stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total transaction of $153,899.50. Following the transaction, the chief financial officer now owns 75,204 shares in the company, valued at $14,934,010.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Waste Management news, CFO Devina A. Rankin sold 775 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total transaction of $153,899.50. Following the completion of the sale, the chief financial officer now owns 75,204 shares of the company’s stock, valued at $14,934,010.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Charles C. Boettcher sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the sale, the executive vice president now directly owns 29,677 shares of the company’s stock, valued at approximately $6,217,331.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,007 shares of company stock worth $3,696,520. 0.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Waste Management

Institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC grew its stake in shares of Waste Management by 8.5% in the third quarter. Integrated Wealth Concepts LLC now owns 28,912 shares of the business services provider’s stock valued at $4,407,000 after buying an additional 2,272 shares in the last quarter. Birch Hill Investment Advisors LLC lifted its holdings in Waste Management by 5.5% during the 4th quarter. Birch Hill Investment Advisors LLC now owns 6,321 shares of the business services provider’s stock worth $1,132,000 after buying an additional 332 shares during the last quarter. Ingalls & Snyder LLC boosted its position in shares of Waste Management by 1.0% during the 3rd quarter. Ingalls & Snyder LLC now owns 22,662 shares of the business services provider’s stock worth $3,455,000 after acquiring an additional 231 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Waste Management by 93.0% during the 4th quarter. Pacer Advisors Inc. now owns 46,613 shares of the business services provider’s stock worth $8,348,000 after acquiring an additional 22,455 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Waste Management by 13,927.7% during the 4th quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock worth $90,319,000 after acquiring an additional 500,701 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

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.