Waste Management (NYSE:WM) Upgraded by StockNews.com to Strong-Buy

Waste Management (NYSE:WM) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

A number of other research analysts have also recently issued reports on the company. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. BMO Capital Markets lowered their target price on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. Royal Bank of Canada cut their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Robert W. Baird lowered their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $215.83.

Waste Management Trading Up 0.2 %

Shares of NYSE:WM traded up $0.32 during midday trading on Tuesday, hitting $207.92. The company had a trading volume of 951,926 shares, compared to its average volume of 1,663,639. The firm has a fifty day simple moving average of $206.54 and a 200 day simple moving average of $208.58. The stock has a market cap of $83.44 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 2.30 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. Waste Management has a 12 month low of $149.71 and a 12 month high of $225.00.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting the consensus estimate of $1.82. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. Waste Management’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.51 EPS. On average, analysts predict that Waste Management will post 7.24 EPS for the current year.

Insider Activity at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the 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 owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Waste Management

A number of hedge funds have recently bought and sold shares of WM. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Waste Management by 39.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 217,492 shares of the business services provider’s stock worth $46,400,000 after purchasing an additional 61,537 shares in the last quarter. American Trust acquired a new stake in Waste Management during the second quarter worth about $544,000. Newbridge Financial Services Group Inc. raised its position in shares of Waste Management by 333.3% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,526 shares of the business services provider’s stock valued at $539,000 after buying an additional 1,943 shares in the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of Waste Management during the 2nd quarter worth approximately $1,086,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Waste Management during the 2nd quarter worth approximately $15,817,000. 80.40% of the stock is owned by institutional investors.

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.