CIBC Lowers Waste Management (NYSE:WM) Price Target to $213.00

Waste Management (NYSE:WM) had its price objective cut by CIBC from $223.00 to $213.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. CIBC’s target price indicates a potential upside of 7.45% from the stock’s previous close.

Several other brokerages have also recently issued reports on WM. Robert W. Baird dropped their price objective on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday. Stifel Nicolaus increased their target price on shares of Waste Management from $215.00 to $227.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Raymond James boosted their price target on Waste Management from $219.00 to $229.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. TD Cowen upped their price target on shares of Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Finally, Morgan Stanley lifted their price objective on shares of Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Waste Management presently has an average rating of “Hold” and an average price target of $216.06.

Waste Management Price Performance

NYSE:WM traded down $1.69 during trading hours on Friday, reaching $198.23. The stock had a trading volume of 620,432 shares, compared to its average volume of 1,692,921. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a market capitalization of $79.51 billion, a PE ratio of 32.51, a PEG ratio of 2.52 and a beta of 0.74. Waste Management has a 52 week low of $149.71 and a 52 week high of $225.00. The company has a 50 day moving average price of $209.78 and a two-hundred day moving average price of $204.54.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.82. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 40.19%. Waste Management’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.51 earnings per share. As a group, sell-side analysts anticipate that Waste Management will post 7.32 earnings per share for the current fiscal year.

Insider Activity

In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the transaction, the vice president now owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the transaction, the vice president now directly owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Michael J. Watson sold 4,208 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the sale, the vice president now directly owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

Hedge funds and other institutional investors have recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC purchased a new position in Waste Management in the second quarter worth approximately $254,000. Addison Capital Co grew its holdings in shares of Waste Management by 16.1% during the 2nd quarter. Addison Capital Co now owns 5,661 shares of the business services provider’s stock worth $1,208,000 after purchasing an additional 784 shares during the period. MinichMacGregor Wealth Management LLC acquired a new stake in shares of Waste Management during the 2nd quarter worth about $209,000. Wedgewood Investors Inc. PA purchased a new stake in Waste Management in the 2nd quarter valued at about $1,312,000. Finally, Calamos Wealth Management LLC lifted its position in Waste Management by 2.3% in the second quarter. Calamos Wealth Management LLC now owns 58,914 shares of the business services provider’s stock valued at $12,569,000 after buying an additional 1,305 shares during the last quarter. 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.