Raymond James Financial upgraded shares of Waste Management (NYSE:WM) from a market perform rating to an outperform rating in a research report report published on Friday morning, MarketBeat.com reports. The firm currently has $95.00 target price on the business services provider’s stock.
WM has been the topic of several other research reports. Zacks Investment Research downgraded shares of Waste Management from a buy rating to a hold rating in a research note on Wednesday, December 27th. Credit Suisse Group set a $90.00 target price on shares of Waste Management and gave the stock a buy rating in a research note on Monday, October 30th. Oppenheimer upped their target price on shares of Waste Management from $82.00 to $87.00 and gave the stock an outperform rating in a research note on Friday, October 27th. UBS Group upgraded shares of Waste Management from a market perform rating to an outperform rating in a research note on Friday. Finally, Stifel Nicolaus upgraded shares of Waste Management from a hold rating to a buy rating and upped their target price for the stock from $80.00 to $95.00 in a research note on Monday, December 11th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Waste Management presently has an average rating of Buy and an average price target of $87.60.
Waste Management (NYSE:WM) opened at $85.15 on Friday. The stock has a market cap of $36,970.00, a P/E ratio of 14.73, a PEG ratio of 1.93 and a beta of 0.70. Waste Management has a 52 week low of $70.08 and a 52 week high of $89.73. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.45.
Waste Management declared that its Board of Directors has authorized a share buyback plan on Thursday, December 14th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Patrick W. Gross sold 387 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total transaction of $34,172.10. Following the transaction, the director now owns 30,673 shares in the company, valued at $2,708,425.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Barry H. Caldwell sold 1,650 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $81.10, for a total transaction of $133,815.00. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. MHI Funds LLC purchased a new stake in Waste Management during the fourth quarter valued at approximately $184,000. Horan Capital Advisors LLC. purchased a new stake in Waste Management during the third quarter valued at approximately $186,000. Cerebellum GP LLC purchased a new stake in Waste Management during the fourth quarter valued at approximately $186,000. Capital Guardian Trust Co. purchased a new stake in Waste Management during the third quarter valued at approximately $193,000. Finally, FTB Advisors Inc. increased its holdings in Waste Management by 44.2% during the fourth quarter. FTB Advisors Inc. now owns 2,285 shares of the business services provider’s stock valued at $197,000 after buying an additional 700 shares during the last quarter. Institutional investors own 75.70% of the company’s stock.
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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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