Waste Management (NYSE:WM) Now Covered by Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Waste Management (NYSE:WM) in a research note issued to investors on Thursday, Marketbeat reports. The firm set an “overweight” rating on the business services provider’s stock.

Several other research firms also recently commented on WM. National Bankshares decreased their price objective on Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 7th. Baird R W raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Royal Bank Of Canada lowered their price target on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 29th. Robert W. Baird raised shares of Waste Management from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $238.00 to $242.00 in a research note on Tuesday, November 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Waste Management from $277.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.25.

Waste Management Stock Performance

WM stock traded up $4.46 during midday trading on Thursday, reaching $208.97. 3,446,065 shares of the company’s stock traded hands, compared to its average volume of 1,730,406. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.36. Waste Management has a 52-week low of $194.11 and a 52-week high of $242.58. The stock has a market cap of $84.19 billion, a P/E ratio of 32.91, a PEG ratio of 2.51 and a beta of 0.62. The stock’s 50-day moving average is $212.87 and its 200 day moving average is $224.42.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the previous year, the firm earned $1.96 EPS. The company’s revenue was up 14.9% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Waste Management will post 7.7 EPS for the current year.

Institutional Investors Weigh In On Waste Management

A number of hedge funds have recently made changes to their positions in WM. Cornerstone Planning Group LLC raised its holdings in shares of Waste Management by 101.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock worth $29,000 after acquiring an additional 67 shares in the last quarter. Saudi Central Bank bought a new stake in Waste Management in the first quarter worth $37,000. GKV Capital Management Co. Inc. purchased a new stake in Waste Management during the first quarter valued at $38,000. Loomis Sayles & Co. L P purchased a new position in shares of Waste Management in the 2nd quarter worth $40,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Waste Management in the 3rd quarter worth about $41,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Company Profile

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.