Waste Management (NYSE:WM) Raised to “Sector Outperform” at Scotiabank

Waste Management (NYSE:WM) was upgraded by equities research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage currently has a $250.00 price objective on the business services provider’s stock, up from their prior price objective of $225.00. Scotiabank’s target price points to a potential upside of 17.03% from the stock’s current price.

Several other research analysts have also issued reports on WM. Stifel Nicolaus increased their price objective on Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. William Blair began coverage on shares of Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating for the company. Argus upped their price objective on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group reduced their target price on Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Finally, Truist Financial raised their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.39.

Waste Management Price Performance

Shares of NYSE:WM opened at $213.62 on Monday. The business’s 50 day moving average is $212.54 and its 200-day moving average is $211.30. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $85.74 billion, a PE ratio of 32.66, a PEG ratio of 2.17 and a beta of 0.77. Waste Management has a 1-year low of $184.72 and a 1-year high of $230.39.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the firm posted $1.63 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts predict that Waste Management will post 7.3 earnings per share for the current year.

Insider Buying and Selling at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the transaction, the director now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Large investors have recently bought and sold shares of the business. Activest Wealth Management boosted its position in shares of Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after buying an additional 120 shares during the period. Global Wealth Strategies & Associates lifted its stake in Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 125 shares in the last quarter. General Partner Inc. acquired a new position in Waste Management during the 4th quarter worth approximately $29,000. Sugar Maple Asset Management LLC bought a new position in shares of Waste Management during the 4th quarter worth approximately $35,000. Finally, Richardson Financial Services Inc. lifted its position in shares of Waste Management by 65.7% in the fourth quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

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.