Waste Management (WM) Upgraded to Outperform at Macquarie

Waste Management (NYSE:WM) was upgraded by Macquarie from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports.

Several other research analysts have also recently weighed in on WM. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. BMO Capital Markets boosted their price objective on Waste Management from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Oppenheimer upped their price target on Waste Management from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Credit Suisse Group set a $90.00 price target on Waste Management and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, Bank of America dropped their price target on Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Waste Management currently has a consensus rating of “Buy” and a consensus target price of $86.44.

Waste Management (WM) opened at $88.10 on Wednesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.71 and a quick ratio of 0.68. Waste Management has a 1 year low of $69.00 and a 1 year high of $88.40. The firm has a market capitalization of $38,250.00, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 2.58 and a beta of 0.75.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, October 26th. The business services provider reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.02. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. equities analysts expect that Waste Management will post 3.2 EPS for the current year.

Waste Management declared that its Board of Directors has approved a share repurchase plan on Thursday, December 14th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

In related news, SVP Barry H. Caldwell sold 1,650 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total transaction of $133,815.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.19% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC increased its stake in Waste Management by 7,400.8% in the 2nd quarter. Janus Henderson Group PLC now owns 4,317,825 shares of the business services provider’s stock worth $316,712,000 after acquiring an additional 4,260,260 shares during the last quarter. Vanguard Group Inc. increased its stake in Waste Management by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 34,374,879 shares of the business services provider’s stock worth $2,521,397,000 after acquiring an additional 1,621,347 shares during the last quarter. BlackRock Inc. increased its stake in Waste Management by 4.9% in the 2nd quarter. BlackRock Inc. now owns 31,637,903 shares of the business services provider’s stock worth $2,320,637,000 after acquiring an additional 1,475,583 shares during the last quarter. APG Asset Management N.V. increased its stake in Waste Management by 49.2% in the 3rd quarter. APG Asset Management N.V. now owns 2,417,131 shares of the business services provider’s stock worth $189,189,000 after acquiring an additional 797,192 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its stake in Waste Management by 52.2% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,942,925 shares of the business services provider’s stock worth $152,073,000 after acquiring an additional 666,000 shares during the last quarter. 74.83% of the stock is currently owned by institutional investors and hedge funds.

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Waste Management Company Profile

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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