Waste Management (NYSE:WM) Upgraded at Scotiabank

Scotiabank upgraded shares of Waste Management (NYSE:WM) from a sector perform rating to a sector outperform rating in a report issued on Monday morning, Marketbeat Ratings reports. The firm currently has $250.00 price objective on the business services provider’s stock, up from their prior price objective of $225.00.

WM has been the topic of a number of other reports. William Blair started coverage on shares of Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. CIBC raised their target price on Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. BMO Capital Markets upped their price target on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased 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. Finally, Morgan Stanley upped their price objective on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.39.

Waste Management Stock Performance

Shares of WM opened at $209.93 on Monday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management has a 1 year low of $184.72 and a 1 year high of $230.39. The firm has a fifty day moving average of $212.43 and a 200-day moving average of $211.29. The company has a market cap of $84.26 billion, a price-to-earnings ratio of 32.10, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted $1.63 EPS. As a group, equities analysts anticipate that Waste Management will post 7.3 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.43%. The ex-dividend date was Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Insider Activity at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction on 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 owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Waste Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Activest Wealth Management lifted its position in shares of Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after purchasing an additional 120 shares during the period. Global Wealth Strategies & Associates lifted its holdings in Waste Management by 892.9% in the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after buying an additional 125 shares during the period. General Partner Inc. acquired a new stake in Waste Management during the 4th quarter worth about $29,000. Sugar Maple Asset Management LLC bought a new position in shares of Waste Management in the 4th quarter worth about $35,000. Finally, Pineridge Advisors LLC acquired a new position in shares of Waste Management in the 4th quarter valued at about $35,000. 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.