Waste Management (NYSE:WM) Updated by StockNews.com to Strong-Buy

Waste Management (NYSE:WM – Get Free Report) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

A number of other research analysts have recently issued reports on the company. Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. BMO Capital Markets cut their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research note on Friday, July 26th. Royal Bank of Canada cut their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Robert W. Baird cut their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $215.83.

Check out our latest analysis of WM

Trading in waste management increased by 0.2%

Shares of NYSE:WM traded up $0.32 during mid-day trading on Tuesday, reaching $207.92. The company had a trading volume of 951,926 shares, compared to its average volume of 1,663,639. The firm has a fifty day simple moving average of $206.54 and a 200 day simple moving average of $208.58. The stock has a market cap of $83.44 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 2.30 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03, and a debt-to-equity ratio of 2.21. Waste Management has a 12 month low of $149.71 and a 12 month high of $225.00.

Waste Management (NYSE:WM – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting the consensus estimate of $1.82. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. Waste Management’s quarterly revenue was up 5.5% compared to the same quarter last year. In the same quarter last year, the firm earned $1.51 EPS. On average, analysts predict that Waste Management will post 7.24 EPS for the current year.

Internal activity at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the transaction, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. 0.18% of shares are owned by company insiders.

Hedge funds influence waste management

A number of hedge funds have recently bought and sold shares of WM. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Waste Management by 39.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 217,492 shares of the business services provider’s stock worth 46,400 shares. $000,000 after buying an additional 61,537 shares in the last quarter. American Trust purchased a new stake in Waste Management in the second quarter valued at approximately $544,000. Newbridge Financial Services Group Inc. increased its position in shares of Waste Management by 333.3% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,526 shares of the business services provider’s stock valued at $539,000 after buying an additional 1,943 shares during the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of Waste Management during the second quarter valued at approximately $1,086,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Waste Management during the second quarter valued at about $15,817,000. 80.40% of shares are held by institutional investors.

About waste management

(Get a free report)

Waste Management, Inc., through its subsidiaries, is engaged in providing environmental solutions to residential, commercial, industrial and municipal customers in the United States and Canada. Provides collection services, including the pickup and transportation of waste and recyclables from where they were 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 landfills that produce landfill gas used as renewable natural gas for electricity generation.

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