CIBC reissued their market perform rating on shares of Waste Management (NYSE:WM) in a research note released on Thursday, FirstToMarketsRatingsTable reports.
Several other research firms also recently commented on WM. KeyCorp downgraded shares of Luxfer from an overweight rating to a sector weight rating and set a $24.30 target price on the stock. in a research report on Monday, June 3rd. Oppenheimer reiterated a market perform rating on shares of Waste Management in a research report on Thursday. UBS Group reiterated a hold rating on shares of Deutsche Bank in a research report on Thursday, April 4th. Stifel Nicolaus assumed coverage on shares of AAR in a research report on Monday, July 8th. They set a buy rating and a $50.00 target price on the stock. Finally, Royal Bank of Canada set a €67.00 ($77.91) target price on shares of Daimler and gave the stock a buy rating in a research report on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $111.67.
NYSE:WM opened at $116.79 on Thursday. The stock’s 50 day simple moving average is $115.21. The company has a current ratio of 0.69, a quick ratio of 0.66 and a debt-to-equity ratio of 1.45. Waste Management has a one year low of $81.01 and a one year high of $118.89. The firm has a market cap of $49.61 billion, a P/E ratio of 27.81, a PEG ratio of 3.17 and a beta of 0.62.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, April 25th. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.91 by $0.03. Waste Management had a net margin of 12.43% and a return on equity of 29.12%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the company earned $0.91 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that Waste Management will post 4.3 earnings per share for the current fiscal year.
In other news, Director Patrick W. Gross sold 289 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $118.61, for a total value of $34,278.29. Following the transaction, the director now owns 53,378 shares in the company, valued at approximately $6,331,164.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John J. Morris sold 42,795 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $106.38, for a total transaction of $4,552,532.10. Following the completion of the transaction, the executive vice president now owns 101,332 shares in the company, valued at approximately $10,779,698.16. The disclosure for this sale can be found here. Insiders sold a total of 128,098 shares of company stock worth $14,483,420 in the last 90 days. Corporate insiders own 0.14% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Waste Management by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock valued at $462,699,000 after acquiring an additional 326,408 shares during the period. Northern Trust Corp lifted its position in shares of Waste Management by 1.4% during the 1st quarter. Northern Trust Corp now owns 5,096,397 shares of the business services provider’s stock valued at $529,567,000 after acquiring an additional 72,356 shares during the period. Norges Bank acquired a new position in shares of Waste Management during the 4th quarter valued at $402,210,000. Nordea Investment Management AB lifted its position in shares of Waste Management by 22.9% during the 1st quarter. Nordea Investment Management AB now owns 2,936,324 shares of the business services provider’s stock valued at $305,112,000 after acquiring an additional 547,291 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of Waste Management by 14.9% during the 1st quarter. California Public Employees Retirement System now owns 2,894,015 shares of the business services provider’s stock valued at $300,717,000 after acquiring an additional 374,826 shares during the period. Hedge funds and other institutional investors own 73.61% of the company’s stock.
Waste Management Company Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
Further Reading: What is a price target?
Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.