Oppenheimer Forecasts Strong Price Appreciation for Waste Management (NYSE:WM) Stock

Waste Management (NYSE:WM) had its price objective hoisted by investment analysts at Oppenheimer from $230.00 to $231.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price target would indicate a potential upside of 5.75% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Scotiabank began coverage on shares of Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. UBS Group raised their price objective on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial boosted their target price on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Argus boosted their target price on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Eleven 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, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.11.

Waste Management Trading Up 1.2 %

Shares of NYSE WM opened at $218.45 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The company has a 50-day moving average of $209.76 and a two-hundred day moving average of $209.06. Waste Management has a 1-year low of $168.73 and a 1-year high of $225.00. The company has a market cap of $87.68 billion, a PE ratio of 33.40, a P/E/G ratio of 2.26 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the firm earned $1.63 EPS. Waste Management’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts expect that Waste Management will post 7.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WM. Trium Capital LLP lifted its holdings in shares of Waste Management by 33.6% during the 3rd quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock valued at $2,498,000 after buying an additional 3,029 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in shares of Waste Management by 77.4% in the third quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock worth $2,553,000 after buying an additional 5,367 shares in the last quarter. Pinkerton Retirement Specialists LLC boosted its stake in Waste Management by 18.6% during the first quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock valued at $4,284,000 after buying an additional 3,145 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Waste Management by 417.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock worth $720,000 after buying an additional 2,800 shares in the last quarter. Finally, Swedbank AB grew its position in Waste Management by 67.2% in the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after acquiring an additional 709,678 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

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.