Waste Management (NYSE:WM) Given New $255.00 Price Target at Citigroup

Waste Management (NYSE:WM - Get Free Report) had its price objective increased by Citigroup from $242.00 to $255.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the business services provider's stock. Citigroup's price target would indicate a potential upside of 13.58% from the company's current price.

A number of other research firms also recently issued reports on WM. JPMorgan Chase & Co. lifted their price objective on Waste Management from $213.00 to $219.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Waste Management from a "buy" rating to a "hold" rating in a report on Friday, January 31st. CIBC boosted their price objective on Waste Management from $228.00 to $235.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Stifel Nicolaus raised their price objective on Waste Management from $243.00 to $252.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Finally, Raymond James increased their price target on Waste Management from $235.00 to $237.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Management currently has a consensus rating of "Moderate Buy" and an average price target of $234.50.

Waste Management Price Performance

Shares of WM stock traded up $2.36 on Monday, hitting $224.50. 810,035 shares of the stock traded hands, compared to its average volume of 1,803,220. The firm has a market cap of $90.11 billion, a price-to-earnings ratio of 33.02, a PEG ratio of 2.57 and a beta of 0.78. Waste Management has a 52 week low of $187.48 and a 52 week high of $230.39. The firm has a 50 day simple moving average of $212.05 and a two-hundred day simple moving average of $211.24. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. As a group, equities research analysts predict that Waste Management will post 7.92 earnings per share for the current fiscal year.

Insider Transactions at Waste Management

In other Waste Management news, VP Donald J. Smith sold 191 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $220.22, for a total transaction of $42,062.02. Following the completion of the transaction, the vice president now owns 6,129 shares of the company's stock, valued at approximately $1,349,728.38. This trade represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Johnson Varkey sold 560 shares of Waste Management stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.11, for a total value of $123,261.60. Following the sale, the senior vice president now owns 9,152 shares of the company's stock, valued at approximately $2,014,446.72. This represents a 5.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,055 shares of company stock valued at $2,674,780. Corporate insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Waste Management

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of Waste Management by 2.1% in the third quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider's stock valued at $1,686,203,000 after purchasing an additional 168,818 shares during the period. Parnassus Investments LLC raised its stake in Waste Management by 11.3% during the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider's stock valued at $1,063,072,000 after acquiring an additional 520,096 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Waste Management by 7.1% in the 4th quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider's stock worth $854,446,000 after buying an additional 280,455 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Waste Management by 5.6% during the fourth quarter. Bank of New York Mellon Corp now owns 2,961,563 shares of the business services provider's stock valued at $597,614,000 after purchasing an additional 157,082 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Waste Management by 94,414.4% during the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider's stock valued at $538,013,000 after purchasing an additional 2,588,842 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

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.