CIBC Increases Waste Management (NYSE:WM) Price Target to $220.00

Waste Management (NYSE:WM) had its target price increased by CIBC from $207.00 to $220.00 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. CIBC’s price objective points to a potential upside of 5.76% from the stock’s previous close.

A number of other research analysts also recently commented on WM. Morgan Stanley increased their target price on Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Royal Bank of Canada raised their price objective on Waste Management from $211.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Oppenheimer boosted their target price on shares of Waste Management from $221.00 to $228.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Stifel Nicolaus raised their price target on shares of Waste Management from $215.00 to $227.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Citigroup lifted their price target on shares of Waste Management from $215.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $216.24.

Waste Management Price Performance

WM stock opened at $208.01 on Monday. Waste Management has a 52-week low of $149.71 and a 52-week high of $214.54. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. The company has a market capitalization of $83.43 billion, a PE ratio of 34.04, a P/E/G ratio of 2.81 and a beta of 0.72. The stock’s 50 day moving average is $208.88 and its two-hundred day moving average is $188.04.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the firm earned $1.31 EPS. The company’s revenue was up 5.5% on a year-over-year basis. Analysts predict that Waste Management will post 7.09 earnings per share for the current fiscal year.

Insider Transactions at Waste Management

In other Waste Management news, EVP Charles C. Boettcher sold 3,275 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $199.49, for a total transaction of $653,329.75. Following the completion of the transaction, the executive vice president now directly owns 36,403 shares of the company’s stock, valued at approximately $7,262,034.47. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Waste Management news, EVP Charles C. Boettcher sold 3,275 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $199.49, for a total value of $653,329.75. Following the completion of the sale, the executive vice president now directly owns 36,403 shares of the company’s stock, valued at approximately $7,262,034.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John J. Morris sold 8,889 shares of Waste Management stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $207.46, for a total transaction of $1,844,111.94. Following the completion of the transaction, the executive vice president now directly owns 95,461 shares in the company, valued at approximately $19,804,339.06. The disclosure for this sale can be found here. In the last three months, insiders sold 18,007 shares of company stock valued at $3,696,520. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

A number of institutional investors and hedge funds have recently modified their holdings of WM. Morgan Stanley lifted its holdings in shares of Waste Management by 0.7% during the third quarter. Morgan Stanley now owns 6,963,527 shares of the business services provider’s stock valued at $1,061,521,000 after purchasing an additional 46,084 shares during the last quarter. Nordea Investment Management AB lifted its stake in Waste Management by 16.9% during the third quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock valued at $827,815,000 after buying an additional 776,491 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Waste Management by 1.3% in the third quarter. Ameriprise Financial Inc. now owns 5,213,330 shares of the business services provider’s stock worth $794,174,000 after buying an additional 66,816 shares during the period. Parnassus Investments LLC increased its position in shares of Waste Management by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 4,799,687 shares of the business services provider’s stock worth $859,624,000 after acquiring an additional 16,213 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Waste Management during the fourth quarter valued at approximately $784,486,000. Institutional investors and hedge funds 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.