Waste Management (NYSE:WM – Get Rating) had its target price hoisted by Morgan Stanley from $160.00 to $165.00 in a report issued on Wednesday morning, Stock Target Advisor reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.
WM has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Waste Management from $157.00 to $167.00 in a research report on Thursday, April 28th. Raymond James lifted their price target on shares of Waste Management from $167.00 to $170.00 and gave the company an outperform rating in a research report on Friday, April 22nd. Bank of America upgraded shares of Waste Management from an underperform rating to a neutral rating and lifted their price target for the company from $155.00 to $165.00 in a research report on Friday, May 13th. Oppenheimer set a $160.00 price target on shares of Waste Management in a research report on Tuesday. Finally, StockNews.com upgraded shares of Waste Management from a buy rating to a strong-buy rating in a research report on Thursday, April 28th. Six investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $164.86.
Waste Management Stock Performance
NYSE WM opened at $154.93 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.83. Waste Management has a 52-week low of $138.58 and a 52-week high of $170.18. The business’s 50-day moving average price is $152.73 and its 200 day moving average price is $153.78. The firm has a market cap of $64.33 billion, a P/E ratio of 34.13, a P/E/G ratio of 2.53 and a beta of 0.78.
Waste Management (NYSE:WM – Get Rating) last announced its quarterly earnings data on Tuesday, April 26th. The business services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.17. The firm had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.45 billion. Waste Management had a net margin of 10.32% and a return on equity of 29.67%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 earnings per share. On average, equities research analysts expect that Waste Management will post 5.55 earnings per share for the current year.
Waste Management Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $2.60 annualized dividend and a dividend yield of 1.68%. Waste Management’s dividend payout ratio is currently 57.27%.
Insider Buying and Selling
In other Waste Management news, CAO Leslie K. Nagy sold 2,668 shares of Waste Management stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $169.72, for a total value of $452,812.96. Following the completion of the sale, the chief accounting officer now directly owns 4,880 shares of the company’s stock, valued at approximately $828,233.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Waste Management news, CAO Leslie K. Nagy sold 2,668 shares of Waste Management stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $169.72, for a total value of $452,812.96. Following the completion of the sale, the chief accounting officer now directly owns 4,880 shares of the company’s stock, valued at approximately $828,233.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Pope sold 219 shares of Waste Management stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $152.19, for a total transaction of $33,329.61. Following the completion of the sale, the director now directly owns 55,439 shares of the company’s stock, valued at $8,437,261.41. The disclosure for this sale can be found here. Insiders sold 60,204 shares of company stock worth $10,105,354 in the last ninety days. Insiders own 0.18% of the company’s stock.
Institutional Trading of Waste Management
Several institutional investors have recently made changes to their positions in WM. Steward Financial Group LLC purchased a new stake in shares of Waste Management during the 4th quarter valued at $25,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Waste Management during the 4th quarter valued at $25,000. Amplius Wealth Advisors LLC purchased a new stake in shares of Waste Management during the 4th quarter valued at $27,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Waste Management during the 2nd quarter valued at $30,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Waste Management during the 1st quarter valued at $32,000. 80.37% of the stock is owned by hedge funds and other institutional investors.
About Waste Management
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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