StockNews.com Downgrades Waste Management (NYSE:WM) to Buy

Waste Management (NYSE:WM) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.

Other analysts have also recently issued research reports about the company. Argus raised their price objective on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. CIBC raised their price objective on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Oppenheimer upped their price target on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. 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 research report on Wednesday, October 30th. Finally, The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $226.11.

Waste Management Price Performance

Shares of NYSE:WM opened at $217.90 on Friday. The company’s fifty day moving average is $211.61 and its 200 day moving average is $209.67. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management has a 52 week low of $168.73 and a 52 week high of $226.84. The stock has a market cap of $87.46 billion, a PE ratio of 33.32, a PEG ratio of 2.34 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. Research analysts anticipate that Waste Management will post 7.3 earnings per share for the current year.

Insider Transactions at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 3,875 shares in the company, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Waste Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Activest Wealth Management increased its stake in Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after buying an additional 120 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Waste Management during the 2nd quarter valued at $31,000. Fairway Wealth LLC increased its stake in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after acquiring an additional 66 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Waste Management during the second quarter worth $36,000. Finally, Fairscale Capital LLC acquired a new stake in Waste Management during the second quarter valued at $39,000. Institutional investors and hedge funds 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.