Waste Management (NYSE:WM) Price Target Raised to $263.00 at Oppenheimer

Waste Management (NYSE:WM) had its price objective upped by equities research analysts at Oppenheimer from $262.00 to $263.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price target suggests a potential upside of 19.70% from the company’s current price.

Several other analysts have also commented on the company. Barclays cut their price objective on Waste Management from $271.00 to $266.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Wells Fargo & Company initiated coverage on Waste Management in a research note on Friday, November 14th. They set an “overweight” rating and a $238.00 target price on the stock. Truist Financial set a $260.00 price target on shares of Waste Management in a report on Wednesday, October 29th. DZ Bank initiated coverage on Waste Management in a report on Tuesday, November 25th. They set a “buy” rating and a $250.00 price objective on the stock. Finally, CIBC decreased their target price on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and a consensus price target of $249.18.

Waste Management Price Performance

Shares of Waste Management stock traded up $1.39 on Tuesday, hitting $219.71. 330,893 shares of the company traded hands, compared to its average volume of 1,763,513. The company has a market cap of $88.51 billion, a P/E ratio of 34.58, a P/E/G ratio of 2.66 and a beta of 0.58. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 2.36. Waste Management has a 12-month low of $194.11 and a 12-month high of $242.58. The firm’s 50-day simple moving average is $211.27 and its 200 day simple moving average is $221.59.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). The business had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 earnings per share. Analysts expect that Waste Management will post 7.7 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Rafael Carrasco sold 1,380 shares of Waste Management stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following the transaction, the senior vice president directly owned 15,540 shares of the company’s stock, valued at $3,373,112.40. This trade represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

A number of institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC boosted its position in Waste Management by 101.5% in the third 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 during the last quarter. JPL Wealth Management LLC purchased a new position in shares of Waste Management during the third quarter worth $30,000. Saudi Central Bank acquired a new position in Waste Management during the first quarter valued at $37,000. GKV Capital Management Co. Inc. acquired a new stake in Waste Management during the 1st quarter worth about $38,000. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Waste Management in the 2nd quarter valued at about $40,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Company Profile

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.