Waste Management (NYSE:WM) Price Target Lowered to $204.00 at Royal Bank of Canada

Waste Management (NYSE:WM) had its price target cut by research analysts at Royal Bank of Canada from $215.00 to $204.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the business services provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 2.91% from the company’s previous close.

WM has been the subject of several other research reports. Morgan Stanley boosted their price target on Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday. CIBC upped their price target on Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Truist Financial cut their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, Robert W. Baird lowered their target price on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $216.06.

Waste Management Stock Down 0.8 %

NYSE:WM traded down $1.69 during mid-day trading on Friday, hitting $198.23. The company had a trading volume of 620,432 shares, compared to its average volume of 1,692,921. Waste Management has a 1 year low of $149.71 and a 1 year high of $225.00. The business has a fifty day simple moving average of $209.78 and a 200-day simple moving average of $204.54. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23. The firm has a market capitalization of $79.51 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 2.52 and a beta of 0.74.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting the consensus estimate of $1.82. The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 40.19%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.51 earnings per share. Equities analysts forecast that Waste Management will post 7.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the transaction, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Michael J. Watson sold 4,208 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the sale, the vice president now owns 45,644 shares in the company, valued at approximately $9,324,156.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction on Tuesday, July 16th. The stock was 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 $9,711,680. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Institutional Trading of Waste Management

A number of institutional investors have recently modified their holdings of WM. Birch Hill Investment Advisors LLC lifted its stake in shares of Waste Management by 5.5% in the 4th quarter. Birch Hill Investment Advisors LLC now owns 6,321 shares of the business services provider’s stock valued at $1,132,000 after purchasing an additional 332 shares during the period. International Assets Investment Management LLC grew its stake in shares of Waste Management by 13,927.7% in the 4th quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock valued at $90,319,000 after buying an additional 500,701 shares during the period. DSM Capital Partners LLC acquired a new position in shares of Waste Management in the 4th quarter valued at $38,000. Capital Wealth Planning LLC acquired a new stake in shares of Waste Management during the fourth quarter valued at about $86,364,000. Finally, Dai ichi Life Insurance Company Ltd raised its position in Waste Management by 2.5% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 173,782 shares of the business services provider’s stock valued at $31,124,000 after purchasing an additional 4,199 shares during the period. 80.40% of the stock is currently owned by institutional investors.

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.