Waste Management (NYSE:WM) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Waste Management (NYSE:WM) had its price target boosted by JPMorgan Chase & Co. from $255.00 to $265.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 21.03% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Waste Management in a report on Tuesday, November 25th. Barclays reduced their target price on Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. DZ Bank began coverage on Waste Management in a research report on Tuesday, November 25th. They issued a “buy” rating and a $250.00 target price on the stock. Citigroup increased their target price on shares of Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Stifel Nicolaus decreased their price target on shares of Waste Management from $252.00 to $236.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and an average target price of $249.14.

Waste Management Price Performance

NYSE WM traded up $1.09 during midday trading on Monday, hitting $218.96. The company had a trading volume of 289,899 shares, compared to its average volume of 1,747,370. The firm has a 50-day moving average price of $212.41 and a 200-day moving average price of $223.21. The company has a market capitalization of $88.21 billion, a PE ratio of 34.44, a P/E/G ratio of 2.51 and a beta of 0.62. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.36. Waste Management has a twelve month low of $194.11 and a twelve month high of $242.58.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The company had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter in the previous year, the business posted $1.96 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Waste Management will post 7.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Rafael Carrasco sold 1,380 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the completion of the transaction, the senior vice president directly owned 15,540 shares in the company, valued at approximately $3,373,112.40. The trade was a 8.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Waste Management

Several hedge funds and other institutional investors have recently modified their holdings of WM. Wealthfront Advisers LLC boosted its stake in Waste Management by 3.1% during the second quarter. Wealthfront Advisers LLC now owns 57,093 shares of the business services provider’s stock valued at $13,064,000 after buying an additional 1,698 shares during the period. GPM Growth Investors Inc. boosted its position in shares of Waste Management by 50.6% during the 2nd quarter. GPM Growth Investors Inc. now owns 16,640 shares of the business services provider’s stock valued at $3,808,000 after acquiring an additional 5,588 shares during the last quarter. Truist Financial Corp boosted its position in shares of Waste Management by 62.9% during the 2nd quarter. Truist Financial Corp now owns 268,033 shares of the business services provider’s stock valued at $61,331,000 after acquiring an additional 103,487 shares during the last quarter. Machina Capital S.A.S. purchased a new position in shares of Waste Management during the second quarter worth about $4,361,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Waste Management in the second quarter valued at approximately $6,865,000. 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.