Waste Management (NYSE:WM) Raised to “Buy” at UBS Group

Waste Management (NYSE:WM) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a research report issued on Friday,Benzinga reports. The brokerage currently has a $260.00 price target on the business services provider’s stock, up from their previous price target of $225.00. UBS Group’s target price would indicate a potential upside of 19.35% from the stock’s previous close.

A number of other brokerages also recently issued reports on WM. The Goldman Sachs Group assumed coverage on shares of Waste Management in a research note on Monday, November 24th. They issued a “buy” rating and a $256.00 price target for the company. National Bankshares lowered their target price on Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 7th. DZ Bank initiated coverage on Waste Management in a research note on Tuesday, November 25th. They issued a “buy” rating and a $250.00 price target on the stock. Barclays dropped their price objective on Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Finally, Morgan Stanley decreased their target price on shares of Waste Management from $232.00 to $230.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Three research 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 company. Based on data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average price target of $250.77.

Waste Management Stock Up 0.9%

WM stock opened at $217.84 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.84 and a debt-to-equity ratio of 2.36. The firm has a 50 day moving average of $213.42 and a 200 day moving average of $219.72. Waste Management has a 52 week low of $194.11 and a 52 week high of $242.58. The stock has a market capitalization of $87.76 billion, a PE ratio of 34.31, a price-to-earnings-growth ratio of 2.42 and a beta of 0.59.

Waste Management (NYSE:WM) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The firm’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.96 EPS. Sell-side analysts forecast that Waste Management will post 7.7 earnings per share for the current year.

Insider Activity at Waste Management

In other 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 transaction, the senior vice president directly owned 15,540 shares in the company, valued at approximately $3,373,112.40. This represents a 8.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Institutional investors have recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC raised its position in shares of Waste Management by 101.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock worth $29,000 after purchasing an additional 67 shares during the period. JPL Wealth Management LLC acquired a new position in Waste Management during the 3rd quarter worth $30,000. Loomis Sayles & Co. L P bought a new stake in shares of Waste Management during the second quarter valued at about $40,000. Holos Integrated Wealth LLC bought a new stake in shares of Waste Management during the 4th quarter worth about $40,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of Waste Management in the third quarter valued at approximately $41,000. Institutional investors own 80.40% of the company’s stock.

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.