Waste Management (NYSE:WM) Upgraded to Strong-Buy at StockNews.com

Waste Management (NYSE:WM) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

Several other analysts also recently issued reports on WM. Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a report on Friday, June 14th. BMO Capital Markets lowered their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research report on Friday, July 26th. Robert W. Baird cut their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. CIBC dropped their price target on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Finally, Oppenheimer reduced their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Stock Performance

WM stock opened at $207.32 on Tuesday. The company has a market capitalization of $83.20 billion, a price-to-earnings ratio of 33.93, a P/E/G ratio of 2.30 and a beta of 0.74. The firm has a 50 day moving average of $206.34 and a two-hundred day moving average of $208.57. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. Waste Management has a 12 month low of $149.71 and a 12 month high of $225.00.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, meeting analysts’ consensus estimates of $1.82. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 EPS. As a group, equities analysts anticipate that Waste Management will post 7.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Waste Management

Institutional investors have recently bought and sold shares of the business. Hexagon Capital Partners LLC boosted its position in Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management in the second quarter worth about $31,000. Opal Wealth Advisors LLC bought a new stake in Waste Management during the 1st quarter worth about $35,000. Fairway Wealth LLC lifted its position in Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 66 shares during the period. Finally, Fairscale Capital LLC bought a new position in shares of Waste Management in the 2nd quarter valued at about $39,000. 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.