CIBC Boosts Waste Management (NYSE:WM) Price Target to $235.00

Waste Management (NYSE:WM) had its price target lifted by equities researchers at CIBC from $228.00 to $235.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. CIBC’s target price would suggest a potential upside of 4.89% from the company’s previous close.

A number of other research analysts have also recently commented on WM. Truist Financial upped their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets lifted their price objective on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised 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 boosted 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. Finally, Scotiabank initiated coverage on Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price for the company. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.33.

Waste Management Stock Down 0.6 %

WM stock opened at $224.05 on Wednesday. The firm has a market capitalization of $89.93 billion, a PE ratio of 34.26, a P/E/G ratio of 2.37 and a beta of 0.75. 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 twelve month low of $171.15 and a twelve month high of $230.39. The stock’s 50 day moving average is $216.60 and its 200-day moving average is $211.09.

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

Insider Transactions at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction that occurred 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. The trade was a 7.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate 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. International Assets Investment Management LLC raised its position in Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after buying an additional 2,588,842 shares during the last quarter. Wulff Hansen & CO. lifted its position in Waste Management by 20,402.6% during the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after purchasing an additional 863,846 shares during the period. Swedbank AB grew its position in Waste Management by 67.2% in the 3rd quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after purchasing an additional 709,678 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Waste Management by 248.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 984,774 shares of the business services provider’s stock valued at $210,092,000 after buying an additional 702,188 shares during the period. Finally, Parnassus Investments LLC boosted its stake in shares of Waste Management by 11.3% in the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock worth $1,063,072,000 after buying an additional 520,096 shares during the last quarter. 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.