Waste Management (NYSE:WM) Downgraded to Buy Rating by StockNews.com

Waste Management (NYSE:WM - Get Free Report) was downgraded by StockNews.com from a "strong-buy" rating to a "buy" rating in a report issued on Sunday.

Several other equities analysts have also issued reports on WM. Scotiabank assumed coverage on shares of Waste Management in a report on Friday, October 4th. They issued a "sector perform" rating and a $220.00 price target on the stock. Argus raised their target price on Waste Management from $230.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Truist Financial upped their price target on Waste Management from $235.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Oppenheimer lifted their price objective on Waste Management from $230.00 to $231.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Finally, BMO Capital Markets boosted their price target on shares of Waste Management from $213.00 to $220.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $228.94.

Waste Management Stock Down 0.1 %

NYSE:WM traded down $0.24 during trading hours on Friday, reaching $228.22. 1,254,644 shares of the company traded hands, compared to its average volume of 1,442,441. The stock has a market capitalization of $91.60 billion, a P/E ratio of 34.90, a P/E/G ratio of 2.40 and a beta of 0.74. Waste Management has a 1 year low of $168.73 and a 1 year high of $230.39. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The business's 50-day moving average price is $215.17 and its two-hundred day moving average price is $210.70.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. Waste Management's revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 EPS. Analysts predict that Waste Management will post 7.32 earnings per share for the current year.

Insider Activity

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the sale, the director now owns 3,875 shares of the company's stock, valued at $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.18% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WM. Aberdeen Wealth Management LLC increased its stake in shares of Waste Management by 1.1% during the third quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider's stock worth $857,000 after purchasing an additional 45 shares during the period. Signature Estate & Investment Advisors LLC lifted its stake in Waste Management by 3.9% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider's stock valued at $257,000 after purchasing an additional 46 shares during the last quarter. ARS Wealth Advisors Group LLC increased its stake in shares of Waste Management by 3.1% in the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider's stock valued at $336,000 after buying an additional 47 shares during the period. Benchmark Financial Wealth Advisors LLC increased its holdings in Waste Management by 1.9% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider's stock valued at $546,000 after purchasing an additional 49 shares during the period. Finally, Balboa Wealth Partners lifted its stake in shares of Waste Management by 4.1% in the third quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider's stock worth $256,000 after acquiring an additional 49 shares during the period. Institutional investors own 80.40% of the company's stock.

About Waste Management

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.