StockNews.com Upgrades Waste Management (NYSE:WM) to Strong-Buy

Waste Management (NYSE:WM) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday.

A number of other research analysts have also issued reports on the stock. Truist Financial upped their target price on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Stifel Nicolaus raised their price target on Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Oppenheimer upped their price objective on shares of Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Argus raised their target price on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley upped their price target on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $230.72.

Waste Management Stock Down 0.2 %

Shares of NYSE WM opened at $205.02 on Wednesday. The firm’s 50-day moving average is $216.74 and its two-hundred day moving average is $211.52. The company has a market capitalization of $82.29 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 2.36 and a beta of 0.75. Waste Management has a 12-month low of $176.68 and a 12-month high of $230.39. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last announced its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts anticipate that Waste Management will post 7.32 EPS for the current fiscal year.

Insider Transactions at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now directly owns 3,875 shares in the company, valued at $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Waste Management

A number of hedge funds have recently bought and sold shares of WM. Activest Wealth Management increased its stake in Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Fairway Wealth LLC grew its position in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after buying an additional 66 shares during the last quarter. Fairscale Capital LLC acquired a new stake in Waste Management during the second quarter worth about $39,000. Strategic Investment Solutions Inc. IL acquired a new position in Waste Management in the second quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. grew its holdings in shares of Waste Management by 51.8% during the third quarter. DHJJ Financial Advisors Ltd. now owns 211 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 72 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.