Sanford C. Bernstein Forecasts Strong Price Appreciation for Waste Management (NYSE:WM) Stock

Waste Management (NYSE:WM) had its price target hoisted by stock analysts at Sanford C. Bernstein from $255.00 to $260.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 19.90% from the stock’s previous close.

Several other research firms have also recently commented on WM. Cowen restated a “buy” rating on shares of Waste Management in a report on Wednesday, October 29th. Barclays decreased their target price on shares of Waste Management from $271.00 to $266.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Wells Fargo & Company began coverage on Waste Management in a report on Friday, November 14th. They set an “overweight” rating and a $238.00 price objective for the company. The Goldman Sachs Group started coverage on Waste Management in a research report on Monday, November 24th. They issued a “buy” rating and a $256.00 target price on the stock. Finally, Scotiabank dropped their price objective on Waste Management from $264.00 to $254.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.18.

Waste Management Price Performance

Shares of NYSE:WM opened at $216.85 on Monday. The company’s fifty day moving average is $212.29 and its two-hundred day moving average is $219.94. The company has a market cap of $87.36 billion, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 2.45 and a beta of 0.59. Waste Management has a 12-month low of $194.11 and a 12-month high of $242.58. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 2.36.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). The business had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.96 EPS. Equities analysts expect that Waste Management will post 7.7 earnings per share for the current fiscal year.

Insider Activity at Waste Management

In related news, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total transaction of $299,542.80. Following the completion of the sale, the senior vice president owned 15,540 shares in the company, valued at $3,373,112.40. This represents a 8.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

Several hedge funds and other institutional investors have recently made changes to their positions in WM. Norges Bank bought a new stake in shares of Waste Management during the 2nd quarter valued at $1,064,206,000. Vontobel Holding Ltd. lifted its stake in Waste Management by 444.3% in the third quarter. Vontobel Holding Ltd. now owns 2,206,026 shares of the business services provider’s stock valued at $487,157,000 after buying an additional 1,800,728 shares during the period. Valeo Financial Advisors LLC grew its position in shares of Waste Management by 15,782.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock worth $395,512,000 after buying an additional 1,717,603 shares during the period. Sustainable Growth Advisers LP grew its holdings in Waste Management by 55.5% during the second quarter. Sustainable Growth Advisers LP now owns 2,897,636 shares of the business services provider’s stock valued at $663,037,000 after purchasing an additional 1,034,258 shares during the period. Finally, Capital International Investors increased its stake in Waste Management by 218.3% in the third quarter. Capital International Investors now owns 1,369,805 shares of the business services provider’s stock valued at $302,494,000 after purchasing an additional 939,455 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.