JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Waste Management (NYSE:WM) Stock

Waste Management (NYSE:WM) had its price target boosted by analysts at JPMorgan Chase & Co. from $265.00 to $270.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 17.97% from the company’s current price.

Other equities analysts have also issued reports about the stock. Citigroup reduced their target price on shares of Waste Management from $270.00 to $263.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. Wells Fargo & Company upped their target price on shares of Waste Management from $250.00 to $273.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. Wolfe Research began coverage on shares of Waste Management in a report on Friday, March 13th. They set a “peer perform” rating for the company. Weiss Ratings upgraded shares of Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Finally, Scotiabank reiterated a “sector perform” rating and set a $250.00 price target (down from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $254.82.

Waste Management Trading Down 1.8%

NYSE:WM traded down $4.24 during mid-day trading on Friday, hitting $228.86. 822,614 shares of the stock traded hands, compared to its average volume of 2,201,662. The stock has a market capitalization of $92.21 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.44 and a beta of 0.54. Waste Management has a 52 week low of $194.11 and a 52 week high of $248.13. The firm’s 50 day moving average is $233.05 and its two-hundred day moving average is $221.75. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.22.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, January 28th. The business services provider reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.02). Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.39 billion. During the same quarter in the prior year, the company earned $1.70 earnings per share. Waste Management’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts predict that Waste Management will post 7.7 earnings per share for the current year.

Insider Transactions at Waste Management

In related news, VP Donald J. Smith sold 12,194 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $233.48, for a total value of $2,847,055.12. Following the completion of the sale, the vice president owned 6,024 shares of the company’s stock, valued at $1,406,483.52. This represents a 66.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO John J. Morris sold 7,979 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $245.07, for a total transaction of $1,955,413.53. Following the completion of the sale, the chief operating officer directly owned 98,656 shares of the company’s stock, valued at $24,177,625.92. The trade was a 7.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 98,042 shares of company stock valued at $23,039,777 over the last quarter. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Elevated Capital Advisors LLC bought a new stake in shares of Waste Management in the 4th quarter valued at approximately $25,000. Cornerstone Planning Group LLC grew its stake in shares of Waste Management by 101.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after buying an additional 67 shares in the last quarter. RHL Group LLC bought a new stake in shares of Waste Management in the 4th quarter valued at approximately $29,000. Financial Network Wealth Advisors LLC grew its stake in shares of Waste Management by 55.3% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after buying an additional 47 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. bought a new stake in shares of Waste Management in the 4th quarter valued at approximately $29,000. 80.40% of the stock is owned by hedge funds and other 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.