Waste Management (NYSE:WM)‘s stock had its “buy” rating restated by research analysts at Stifel Nicolaus in a research note issued to investors on Thursday. They currently have a $100.00 target price on the business services provider’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 14.48% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. Bank of America decreased their target price on shares of Waste Management from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. KeyCorp reaffirmed a “buy” rating and set a $88.00 target price on shares of Waste Management in a research note on Friday, October 27th. BMO Capital Markets reissued a “buy” rating and set a $85.00 price target on shares of Waste Management in a research report on Friday, October 13th. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research report on Tuesday, December 26th. Finally, Credit Suisse Group set a $90.00 price target on shares of Waste Management and gave the company a “buy” rating in a research report on Monday, October 30th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $86.44.
Shares of Waste Management (WM) traded up $1.25 during midday trading on Thursday, hitting $87.35. 2,104,100 shares of the company’s stock were exchanged, compared to its average volume of 1,994,800. Waste Management has a fifty-two week low of $69.00 and a fifty-two week high of $87.54. The company has a market capitalization of $38,210.00, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 2.58 and a beta of 0.75. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of 1.60.
Waste Management announced that its Board of Directors has initiated a stock buyback program on Thursday, December 14th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
In related news, SVP Barry H. Caldwell sold 1,650 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $81.10, for a total value of $133,815.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in shares of Waste Management by 19.2% during the 2nd quarter. Victory Capital Management Inc. now owns 48,756 shares of the business services provider’s stock valued at $3,576,000 after buying an additional 7,858 shares in the last quarter. Swiss National Bank increased its holdings in Waste Management by 1.8% in the 2nd quarter. Swiss National Bank now owns 2,410,003 shares of the business services provider’s stock valued at $176,774,000 after acquiring an additional 43,000 shares during the last quarter. Delta Lloyd Asset Management N.V. bought a new stake in Waste Management in the 2nd quarter valued at $15,340,000. Oppenheimer & Co. Inc. increased its holdings in Waste Management by 4.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 170,921 shares of the business services provider’s stock valued at $12,537,000 after acquiring an additional 7,568 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its holdings in Waste Management by 26.7% in the 2nd quarter. State of Tennessee Treasury Department now owns 273,070 shares of the business services provider’s stock valued at $20,030,000 after acquiring an additional 57,589 shares during the last quarter. Institutional investors and hedge funds own 74.83% of the company’s stock.
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About Waste Management
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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