Waste Management (NYSE:WM) Given New $216.00 Price Target at Robert W. Baird

Waste Management (NYSE:WM) had its price objective lowered by investment analysts at Robert W. Baird from $226.00 to $216.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. Robert W. Baird’s target price points to a potential upside of 7.89% from the company’s current price.

WM has been the subject of a number of other research reports. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Deutsche Bank Aktiengesellschaft began coverage on Waste Management in a research report on Wednesday, May 22nd. They set a “buy” rating and a $241.00 target price on the stock. Truist Financial reduced their price target on Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. BMO Capital Markets raised their target price on Waste Management from $207.00 to $212.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Finally, CIBC increased their price target on shares of Waste Management from $207.00 to $220.00 and gave the stock a “neutral” rating in a report on Monday, April 29th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Waste Management has a consensus rating of “Hold” and an average price target of $217.06.

Waste Management Stock Performance

NYSE WM opened at $200.20 on Friday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. The company has a market capitalization of $80.30 billion, a PE ratio of 32.77, a price-to-earnings-growth ratio of 2.52 and a beta of 0.74. Waste Management has a 52-week low of $149.71 and a 52-week high of $225.00. The company has a 50-day simple moving average of $209.78 and a 200 day simple moving average of $204.54.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. The company had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 40.19%. Waste Management’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.51 EPS. On average, research analysts predict that Waste Management will post 7.32 EPS for the current year.

Insider Buying and Selling at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total transaction of $859,610.24. Following the transaction, the vice president now directly owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The disclosure for this sale can be found here. Corporate 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 made changes to their positions in the business. Parnassus Investments LLC lifted its position in shares of Waste Management by 0.3% in the 4th quarter. Parnassus Investments LLC now owns 4,799,687 shares of the business services provider’s stock worth $859,624,000 after purchasing an additional 16,213 shares during the period. Norges Bank bought a new stake in Waste Management during the 4th quarter valued at approximately $784,486,000. Capital World Investors raised its position in shares of Waste Management by 44.6% in the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after acquiring an additional 1,303,466 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Waste Management by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,997,367 shares of the business services provider’s stock valued at $357,729,000 after purchasing an additional 38,828 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Waste Management by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,931,135 shares of the business services provider’s stock valued at $345,851,000 after purchasing an additional 17,254 shares in 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.