Barclays Has Lowered Expectations for Waste Management (NYSE:WM) Stock Price

Waste Management (NYSE:WM) had its price target reduced by stock analysts at Barclays from $266.00 to $265.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. Barclays‘s price target would suggest a potential upside of 19.61% from the company’s previous close.

WM has been the topic of a number of other reports. Royal Bank Of Canada dropped their price objective on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 29th. Wells Fargo & Company assumed coverage on shares of Waste Management in a research report on Friday, November 14th. They issued an “overweight” rating and a $238.00 price target on the stock. Morgan Stanley decreased their price objective on Waste Management from $232.00 to $230.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. DZ Bank began coverage on Waste Management in a research report on Tuesday, November 25th. They set a “buy” rating and a $250.00 target price on the stock. Finally, Truist Financial set a $260.00 price objective on Waste Management in a research note on Wednesday, October 29th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.41.

Waste Management Stock Up 0.1%

Shares of WM stock traded up $0.32 on Tuesday, reaching $221.55. 628,781 shares of the company were exchanged, compared to its average volume of 1,762,673. The company has a 50-day moving average of $216.15 and a 200-day moving average of $219.12. Waste Management has a one year low of $194.11 and a one year high of $242.58. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80. The company has a market cap of $89.26 billion, a price-to-earnings ratio of 34.91, a PEG ratio of 2.48 and a beta of 0.59.

Waste Management (NYSE:WM) last announced its quarterly earnings data 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 net margin of 10.35% and a return on equity of 33.00%. The firm had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period last year, the business posted $1.96 EPS. The company’s revenue was up 14.9% on a year-over-year basis. Analysts anticipate that Waste Management will post 7.7 earnings per share for the current year.

Insider Buying and Selling

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the transaction, the senior vice president directly owned 15,540 shares in the company, valued at $3,373,112.40. The trade was a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

Several institutional investors have recently bought and sold shares of the company. Cornerstone Planning Group LLC raised its position in Waste Management by 101.5% in the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock worth $29,000 after acquiring an additional 67 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Waste Management during the third quarter worth $30,000. Loomis Sayles & Co. L P acquired a new position in shares of Waste Management in the 2nd quarter valued at about $40,000. Holos Integrated Wealth LLC acquired a new position in Waste Management during the fourth quarter valued at approximately $40,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of Waste Management during the 3rd quarter valued at $41,000. 80.40% of the stock is currently 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.