Waste Management (NYSE:WM) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Waste Management (NYSE:WM) from a buy rating to a strong-buy rating in a research report released on Wednesday morning.

Other research analysts have also issued research reports about the stock. CIBC increased their price target on shares of Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their price target on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Oppenheimer lifted their price objective on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, BMO Capital Markets increased their target price on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $230.72.

Waste Management Trading Down 0.5 %

Shares of NYSE WM opened at $204.02 on Wednesday. The business has a fifty day simple moving average of $216.56 and a 200-day simple moving average of $211.54. The company has a market cap of $81.89 billion, a price-to-earnings ratio of 31.20, a P/E/G ratio of 2.36 and a beta of 0.75. Waste Management has a 12 month low of $176.68 and a 12 month high of $230.39. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. Waste Management’s quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts predict that Waste Management will post 7.32 EPS for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.47%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Insider Buying and Selling at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Activest Wealth Management increased its position in Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 120 shares in the last quarter. Fairway Wealth LLC raised its position in Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Waste Management during the 2nd quarter worth $36,000. Fairscale Capital LLC bought a new position in Waste Management in the 2nd quarter valued at $39,000. Finally, DHJJ Financial Advisors Ltd. raised its position in shares of Waste Management by 51.8% during the third quarter. DHJJ Financial Advisors Ltd. now owns 211 shares of the business services provider’s stock worth $44,000 after acquiring an additional 72 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

About Waste Management

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.