Waste Management (NYSE:WM) was upgraded by research analysts at Credit Suisse Group to a “buy” rating in a research report issued on Saturday. The brokerage currently has a $97.00 price objective on the business services provider’s stock. Credit Suisse Group’s price target would suggest a potential upside of 13.92% from the stock’s previous close.
WM has been the subject of a number of other reports. Zacks Investment Research cut shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Oppenheimer upped their price target on shares of Waste Management from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. UBS Group upgraded shares of Waste Management from a “market perform” rating to an “outperform” rating in a research report on Friday. Stifel Nicolaus upgraded shares of Waste Management from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $95.00 in a research report on Monday, December 11th. Finally, KeyCorp restated a “buy” rating and issued a $88.00 price target on shares of Waste Management in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $87.60.
Waste Management (NYSE WM) traded up $1.13 during mid-day trading on Friday, reaching $85.15. 3,360,371 shares of the company were exchanged, compared to its average volume of 2,803,241. The firm has a market cap of $36,927.34, a PE ratio of 19.31, a price-to-earnings-growth ratio of 2.21 and a beta of 0.70. Waste Management has a twelve month low of $70.08 and a twelve month high of $89.73. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 0.80.
Waste Management declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 14th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
In other news, Director Patrick W. Gross sold 387 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 30,673 shares in the company, valued at $2,708,425.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Barry H. Caldwell sold 1,650 shares of the stock in a transaction on Tuesday, November 28th. The stock was 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. Corporate insiders own 0.19% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. California Public Employees Retirement System increased its position in shares of Waste Management by 6.2% during the third quarter. California Public Employees Retirement System now owns 1,466,158 shares of the business services provider’s stock worth $114,756,000 after buying an additional 85,636 shares during the period. Yellowstone Partners LLC acquired a new stake in shares of Waste Management during the third quarter worth $449,000. Personal Capital Advisors Corp increased its position in shares of Waste Management by 24.0% during the third quarter. Personal Capital Advisors Corp now owns 163,337 shares of the business services provider’s stock worth $12,784,000 after buying an additional 31,585 shares during the period. Moody Lynn & Lieberson LLC increased its position in shares of Waste Management by 20.1% during the third quarter. Moody Lynn & Lieberson LLC now owns 171,716 shares of the business services provider’s stock worth $13,440,000 after buying an additional 28,760 shares during the period. Finally, Lourd Capital LLC acquired a new stake in shares of Waste Management during the fourth quarter worth $256,000. Institutional investors own 75.33% of the company’s stock.
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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