BMO Capital Markets Increases Waste Management (NYSE:WM) Price Target to $120.00

Waste Management (NYSE:WM) had its target price upped by investment analysts at BMO Capital Markets from $111.00 to $120.00 in a report released on Friday, The Fly reports. The firm presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 9.49% from the company’s previous close.

WM has been the subject of several other reports. Robert W. Baird initiated coverage on Waste Management in a report on Thursday, May 28th. They set an “outperform” rating and a $115.00 price objective for the company. Royal Bank of Canada lowered shares of Waste Management from an “outperform” rating to a “sector perform” rating in a research report on Sunday, April 19th. Deutsche Bank dropped their target price on shares of Waste Management from $132.00 to $104.00 and set a “hold” rating for the company in a report on Monday, May 4th. CIBC cut shares of Waste Management from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday, July 14th. Finally, Argus lowered their price target on shares of Waste Management from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Waste Management presently has an average rating of “Buy” and a consensus target price of $116.50.

Shares of NYSE WM opened at $109.60 on Friday. The stock has a market capitalization of $46.25 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 5.05 and a beta of 0.74. Waste Management has a 52 week low of $85.34 and a 52 week high of $126.79. The firm has a 50-day moving average price of $105.14 and a 200 day moving average price of $107.39. The company has a quick ratio of 1.80, a current ratio of 0.88 and a debt-to-equity ratio of 1.39.

Waste Management (NYSE:WM) last issued its earnings results on Thursday, July 30th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.07. Waste Management had a net margin of 10.66% and a return on equity of 25.84%. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Equities research analysts expect that Waste Management will post 3.77 EPS for the current fiscal year.

In other news, Director John C. Pope sold 315 shares of the company’s stock in a transaction dated Thursday, July 16th. The shares were sold at an average price of $106.87, for a total transaction of $33,664.05. Following the completion of the transaction, the director now owns 54,269 shares of the company’s stock, valued at approximately $5,799,728.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Toth Financial Advisory Corp raised its holdings in Waste Management by 65.6% in the first quarter. Toth Financial Advisory Corp now owns 265 shares of the business services provider’s stock valued at $25,000 after buying an additional 105 shares during the period. Fortis Advisors LLC grew its stake in Waste Management by 137.8% during the first quarter. Fortis Advisors LLC now owns 302 shares of the business services provider’s stock worth $28,000 after buying an additional 175 shares during the period. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Waste Management in the first quarter worth $30,000. Creative Financial Designs Inc. ADV raised its stake in shares of Waste Management by 210.3% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 301 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 204 shares during the period. Finally, Key Financial Inc acquired a new position in shares of Waste Management during the 1st quarter valued at $34,000. 73.45% of the stock is owned by institutional investors.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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