Waste Management, Inc. (WM) Given Buy Rating at BMO Capital Markets

Waste Management, Inc. (NYSE:WM)‘s stock had its “buy” rating restated by analysts at BMO Capital Markets in a research report issued on Friday. They presently have a $85.00 price objective on the business services provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 10.50% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Oppenheimer Holdings, Inc. boosted their target price on shares of Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 5th. Credit Suisse Group boosted their target price on shares of Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research note on Wednesday, July 19th. Finally, KeyCorp boosted their price objective on shares of Waste Management from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $78.74.

Waste Management (NYSE:WM) last posted its earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share.

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In other news, Director John C. Pope sold 453 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $74.38, for a total transaction of $33,694.14. Following the transaction, the director now owns 51,470 shares in the company, valued at $3,828,338.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick W. Gross sold 487 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total transaction of $36,369.16. Following the transaction, the director now owns 23,222 shares in the company, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in WM. BlackRock Inc. raised its holdings in shares of Waste Management by 2,611.5% during the first quarter. BlackRock Inc. now owns 30,162,320 shares of the business services provider’s stock valued at $2,199,436,000 after purchasing an additional 29,049,915 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Waste Management by 7,400.8% during the second quarter. Janus Henderson Group PLC now owns 4,317,825 shares of the business services provider’s stock valued at $316,712,000 after purchasing an additional 4,260,260 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Waste Management by 95.0% during the first quarter. Renaissance Technologies LLC now owns 3,857,300 shares of the business services provider’s stock valued at $281,274,000 after purchasing an additional 1,879,300 shares during the period. Vanguard Group Inc. raised its holdings in shares of Waste Management by 5.8% during the first quarter. Vanguard Group Inc. now owns 32,753,532 shares of the business services provider’s stock valued at $2,388,388,000 after purchasing an additional 1,790,546 shares during the period. Finally, Harbour Capital Advisors LLC raised its holdings in shares of Waste Management by 8,786.6% during the second quarter. Harbour Capital Advisors LLC now owns 903,232 shares of the business services provider’s stock valued at $12,314,000 after purchasing an additional 893,068 shares during the period. Hedge funds and other institutional investors own 74.93% of the company’s stock.

About Waste Management

Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.

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