CIBC Raises Waste Management (NYSE:WM) Price Target to $220.00

Waste Management (NYSE:WM) had its target price hoisted by investment analysts at CIBC from $207.00 to $220.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. CIBC’s price target points to a potential upside of 5.76% from the company’s current price.

WM has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price target on Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Truist Financial raised their target price on Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, April 26th. UBS Group cut Waste Management from a “buy” rating to a “neutral” rating and upped their price target for the company from $190.00 to $205.00 in a research note on Wednesday, February 14th. Citigroup lifted their price objective on shares of Waste Management from $215.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, Royal Bank of Canada lifted their target price on Waste Management from $211.00 to $215.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $216.24.

Waste Management Price Performance

Waste Management stock opened at $208.01 on Monday. The stock has a market cap of $83.43 billion, a price-to-earnings ratio of 34.04, a P/E/G ratio of 2.81 and a beta of 0.72. Waste Management has a 12-month low of $149.71 and a 12-month high of $214.54. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. The business’s 50-day simple moving average is $208.88 and its 200 day simple moving average is $188.04.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the company earned $1.31 EPS. Waste Management’s revenue was up 5.5% on a year-over-year basis. As a group, research analysts anticipate that Waste Management will post 7.09 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Donald J. Smith sold 329 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $198.56, for a total transaction of $65,326.24. Following the completion of the transaction, the vice president now directly owns 5,522 shares in the company, valued at approximately $1,096,448.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Waste Management news, VP Donald J. Smith sold 329 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $198.56, for a total transaction of $65,326.24. Following the transaction, the vice president now owns 5,522 shares of the company’s stock, valued at approximately $1,096,448.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Devina A. Rankin sold 775 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $198.58, for a total value of $153,899.50. Following the completion of the sale, the chief financial officer now directly owns 75,204 shares of the company’s stock, valued at approximately $14,934,010.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,007 shares of company stock worth $3,696,520. 0.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC increased its holdings in shares of Waste Management by 5.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 275,964 shares of the business services provider’s stock worth $42,068,000 after acquiring an additional 14,229 shares during the last quarter. RMR Wealth Builders lifted its stake in shares of Waste Management by 204.8% during the 3rd quarter. RMR Wealth Builders now owns 4,179 shares of the business services provider’s stock worth $637,000 after buying an additional 2,808 shares during the last quarter. Toews Corp ADV bought a new stake in shares of Waste Management during the 3rd quarter worth about $762,000. Accurate Wealth Management LLC acquired a new position in Waste Management in the 3rd quarter valued at about $2,475,000. Finally, Vicus Capital bought a new position in Waste Management in the 3rd quarter valued at about $235,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Company Profile

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.