Waste Management (NYSE:WM) Downgraded by StockNews.com

Waste Management (NYSE:WM) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.

A number of other equities analysts have also recently issued reports on the stock. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. William Blair began coverage on shares of Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Oppenheimer dropped their target price on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Robert W. Baird cut their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Finally, Scotiabank began coverage on shares of Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 price objective for the company. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.89.

Waste Management Price Performance

Shares of NYSE:WM opened at $211.25 on Wednesday. The firm has a market capitalization of $84.78 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 2.33 and a beta of 0.74. The company’s fifty day moving average price is $207.18 and its 200-day moving average price is $208.46. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. Waste Management has a one year low of $153.95 and a one year high of $225.00.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.82. The firm had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.51 earnings per share. On average, equities research analysts anticipate that Waste Management will post 7.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now directly owns 44,144 shares of the company’s stock, valued at $9,711,680. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Waste Management

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hexagon Capital Partners LLC lifted its position in Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Waste Management during the second quarter worth approximately $31,000. Opal Wealth Advisors LLC purchased a new position in shares of Waste Management during the 1st quarter worth about $35,000. Fairway Wealth LLC grew its holdings in shares of Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Waste Management in the second quarter valued at about $36,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

About Waste Management

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.