UBS Group Boosts Waste Management (NYSE:WM) Price Target to $226.00

Waste Management (NYSE:WM) had its price target boosted by equities researchers at UBS Group from $220.00 to $226.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. UBS Group’s target price suggests a potential upside of 3.98% from the stock’s current price.

A number of other brokerages have also commented on WM. Robert W. Baird dropped their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. StockNews.com cut Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets lowered their price objective on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research report on Friday, July 26th. CIBC decreased their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, Truist Financial dropped their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $220.44.

Waste Management Price Performance

Shares of WM traded down $1.76 during midday trading on Wednesday, reaching $217.35. The stock had a trading volume of 484,662 shares, compared to its average volume of 1,616,072. The company has a market capitalization of $87.23 billion, a price-to-earnings ratio of 34.61, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. Waste Management has a 12-month low of $162.03 and a 12-month high of $225.00. The company’s 50-day moving average is $209.03 and its 200 day moving average is $208.67.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the firm posted $1.63 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts predict that Waste Management will post 7.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Waste Management

Several institutional investors and hedge funds have recently bought and sold shares of WM. Impax Asset Management Group plc grew its position in Waste Management by 7.6% in the 3rd quarter. Impax Asset Management Group plc now owns 1,741,090 shares of the business services provider’s stock valued at $361,450,000 after acquiring an additional 122,696 shares in the last quarter. Quintet Private Bank Europe S.A. lifted its stake in Waste Management by 14.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 143,739 shares of the business services provider’s stock worth $29,840,000 after acquiring an additional 17,691 shares during the last quarter. World Equity Group Inc. lifted its position in shares of Waste Management by 3.8% during the 3rd quarter. World Equity Group Inc. now owns 1,363 shares of the business services provider’s stock worth $283,000 after purchasing an additional 50 shares during the last quarter. TKG Advisors LLC increased its holdings in Waste Management by 5.8% in the third quarter. TKG Advisors LLC now owns 10,494 shares of the business services provider’s stock valued at $2,179,000 after buying an additional 576 shares during the last quarter. Finally, National Pension Service raised its stake in Waste Management by 15.9% in the third quarter. National Pension Service now owns 767,577 shares of the business services provider’s stock valued at $159,349,000 after buying an additional 105,466 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

About Waste Management

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.