Waste Management (NYSE:WM) Given New $237.00 Price Target at Raymond James

Waste Management (NYSE:WM) had its price target increased by stock analysts at Raymond James from $235.00 to $237.00 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 suggests a potential upside of 6.80% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. Argus boosted their price target on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group dropped their price target on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Truist Financial upped their price objective 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. JPMorgan Chase & Co. upped their price target on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer boosted their target price on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.28.

Waste Management Stock Down 0.2 %

Waste Management stock traded down $0.52 during mid-day trading on Friday, hitting $221.91. The company’s stock had a trading volume of 559,464 shares, compared to its average volume of 1,747,086. Waste Management has a 52-week low of $184.72 and a 52-week high of $230.39. The company has a market cap of $89.07 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 2.20 and a beta of 0.77. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The firm’s 50 day moving average is $212.28 and its 200 day moving average is $211.36.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. On average, analysts anticipate that Waste Management will post 7.99 earnings per share for the current year.

Insider Activity

In other news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Waste Management

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Activest Wealth Management boosted its holdings in shares of Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after acquiring an additional 120 shares in the last quarter. Global Wealth Strategies & Associates boosted its stake in Waste Management by 892.9% in the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after purchasing an additional 125 shares in the last quarter. General Partner Inc. acquired a new stake in shares of Waste Management in the fourth quarter valued at $29,000. Sugar Maple Asset Management LLC acquired a new stake in Waste Management in the 4th quarter valued at about $35,000. Finally, Richardson Financial Services Inc. raised its position in Waste Management by 65.7% in the 4th quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider’s stock worth $35,000 after purchasing an additional 69 shares during the last quarter. 80.40% of the stock is currently 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.