Waste Management (NYSE:WM – Free Report) had its target price decreased by Truist Financial from $240.00 to $235.00 in a report issued on Thursday morning, Benzinga reports. Truist Financial currently has a buy rating on the business services provider’s stock.
WM has been the topic of a number of other research reports. Robert W. Baird lifted their price objective on Waste Management from $214.00 to $222.00 and gave the company a neutral rating in a report on Tuesday, April 30th. TD Cowen lifted their price objective on Waste Management from $220.00 to $235.00 and gave the company a buy rating in a report on Monday, April 29th. Oppenheimer lifted their price objective on Waste Management from $221.00 to $228.00 and gave the company an outperform rating in a report on Friday, April 26th. StockNews.com raised Waste Management from a buy rating to a strong-buy rating in a report on Tuesday, April 9th. Finally, Raymond James boosted their price target on Waste Management from $219.00 to $229.00 and gave the stock an outperform rating in a research note on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Waste Management currently has an average rating of Moderate Buy and an average target price of $217.33.
Get Our Latest Stock Report on WM
Waste Management Stock Performance
NYSE WM opened at $211.78 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. Waste Management has a 52-week low of $149.71 and a 52-week high of $214.54. The business’s 50-day moving average price is $208.25 and its 200 day moving average price is $201.79. The firm has a market cap of $84.94 billion, a P/E ratio of 34.66, a P/E/G ratio of 2.46 and a beta of 0.74.
Waste Management (NYSE:WM – Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The firm had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the company posted $1.31 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. On average, equities research analysts expect that Waste Management will post 7.31 earnings per share for the current year.
Waste Management Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 1.42%. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.
Insider Buying and Selling at Waste Management
In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the transaction, the vice president now directly owns 45,644 shares in the company, valued at approximately $9,324,156.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Harbour Investments Inc. grew its stake in shares of Waste Management by 10.5% during the 3rd quarter. Harbour Investments Inc. now owns 1,982 shares of the business services provider’s stock valued at $302,000 after buying an additional 188 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Waste Management by 11.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 39,484 shares of the business services provider’s stock valued at $6,019,000 after buying an additional 4,034 shares during the period. Wellington Management Group LLP grew its stake in shares of Waste Management by 26.4% during the 3rd quarter. Wellington Management Group LLP now owns 264,069 shares of the business services provider’s stock valued at $40,255,000 after buying an additional 55,075 shares during the period. Wesbanco Bank Inc. grew its stake in shares of Waste Management by 10.6% during the 3rd quarter. Wesbanco Bank Inc. now owns 3,903 shares of the business services provider’s stock valued at $595,000 after buying an additional 375 shares during the period. Finally, DNB Asset Management AS grew its stake in shares of Waste Management by 26.2% during the 4th quarter. DNB Asset Management AS now owns 150,768 shares of the business services provider’s stock valued at $27,003,000 after buying an additional 31,289 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.
Waste Management Company Profile
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.
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Source: americanbankingnews.com
