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HOUSTON—Morris John J, Executive Vice President and Chief Operating Officer of Waste Management Inc. (NYSE:WM), a $92.3 billion market cap company with strong financial health according to InvestingPro, recently sold 19,153 shares of the company’s common stock, according to a regulatory filing. The shares were sold on March 7 at a weighted average price of $224.71, generating a total transaction value of approximately $4.3 million. The sale comes as the stock trades near its 52-week high, with InvestingPro analysis suggesting the company is currently trading above its Fair Value.
Following the sale, Morris retains direct ownership of 85,257 shares. Additionally, he holds 2,405 shares indirectly through a 401(k) plan. The transaction was executed in multiple trades, with prices ranging from $224.17 to $225.50 per share. Notably, Waste Management has maintained 21 consecutive years of dividend increases, demonstrating strong shareholder returns. For deeper insights into insider trading patterns and 12 additional ProTips, visit InvestingPro.
In other recent news, Waste Management has reported a robust financial quarter, with revenue and EBITDA surpassing consensus expectations, prompting Jefferies to increase its price target for the company to $257 while maintaining a Buy rating. Stifel also maintained a Buy rating with a price target of $252, following Waste Management’s strong fourth-quarter 2024 performance and optimistic forecast for fiscal year 2025. Erste Group has upgraded Waste Management’s stock rating from Hold to Buy, highlighting the company’s robust growth prospects, including anticipated significant increases in revenue and operating income by 2025.
Oppenheimer reaffirmed its Outperform rating with a price target of $237, citing positive insights from investor meetings and the company’s strategic focus on residential margin improvement and growth in landfill pricing. Raymond (NSE:RYMD) James also maintained an Outperform rating with the same price target, emphasizing Waste Management’s substantial investments in sustainability, projected to add $800 million to EBITDA by the end of 2027. The company’s strategic initiatives include maximizing landfill assets and focusing on renewable natural gas and recycling projects.
These developments reflect a broader confidence among analysts in Waste Management’s strategy and growth potential, bolstered by favorable market conditions and strategic acquisitions. The integration of WM Healthcare Solutions and potential regulatory benefits are also seen as positive factors for the company’s future performance. Waste Management’s commitment to sustainability and innovation continues to be a focal point for analysts, contributing to their positive outlook on the company’s stock.
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