Insider Selling: Jeff M. Harris Unloads 97,204 Shares of Waste Management Stock (WM)
Waste Management (NYSE:WM) SVP Jeff M. Harris unloaded 97,204 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $46.79, for a total transaction of $4,548,175.16. Following the completion of the sale, the senior vice president now directly owns 25,680 shares of the company’s stock, valued at approximately $1,201,567. The sale was disclosed in a legal filing with the SEC, which is available at this link.
WM has been the subject of a number of recent research reports. Analysts at Stifel Nicolaus upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research note on Wednesday, August 27th. They now have a $55.00 price target on the stock. Separately, analysts at Imperial Capital raised their price target on shares of Waste Management from $50.00 to $51.00 in a research note on Thursday, July 31st. Finally, analysts at Macquarie reiterated an “outperform” rating on shares of Waste Management in a research note on Wednesday, July 30th. They now have a $53.00 price target on the stock, up previously from $50.00. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Waste Management currently has a consensus rating of “Hold” and a consensus price target of $49.00.
Shares of Waste Management (NYSE:WM) traded up 0.06% during mid-day trading on Tuesday, hitting $47.00. The stock had a trading volume of 665,672 shares. Waste Management has a 52-week low of $39.60 and a 52-week high of $47.35. The stock’s 50-day moving average is $45.24 and its 200-day moving average is $43.46. The company has a market cap of $21.921 billion and a price-to-earnings ratio of 177.25.
Waste Management (NYSE:WM) last announced its earnings results on Tuesday, July 29th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.01. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts expect that Waste Management will post $2.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Wednesday, September 3rd.
Waste Management, Inc (NYSE:WM) is a provider of waste management services in North America.
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