Waste Management (NYSE:WM) Hits New 12-Month High on Analyst Upgrade


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Waste Management, Inc. (NYSE:WM)’s share price reached a new 52-week high on Tuesday after Raymond James raised their price target on the stock from $144.00 to $147.00. Raymond James currently has an outperform rating on the stock. Waste Management traded as high as $140.71 and last traded at $140.55, with a volume of 2371 shares. The stock had previously closed at $140.34.

A number of other equities research analysts have also recently weighed in on the company. Royal Bank of Canada increased their price target on Waste Management from $122.00 to $137.00 and gave the company a “sector perform” rating in a research note on Tuesday. Morgan Stanley increased their price target on shares of Waste Management from $121.00 to $133.00 and gave the company an “equal weight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on Waste Management from $119.00 to $138.00 and gave the stock a “hold” rating in a report on Wednesday, April 28th. Robert W. Baird downgraded Waste Management from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $128.00 to $122.00 in a research note on Tuesday, February 16th. Finally, BMO Capital Markets increased their price objective on Waste Management from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Waste Management currently has an average rating of “Hold” and an average target price of $129.77.

In other Waste Management news, CFO Devina A. Rankin sold 17,603 shares of the company’s stock in a transaction dated Thursday, March 4th. The stock was sold at an average price of $115.00, for a total value of $2,024,345.00. Following the sale, the chief financial officer now owns 25,473 shares in the company, valued at approximately $2,929,395. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Leslie K. Nagy sold 392 shares of the stock in a transaction dated Friday, February 19th. The shares were sold at an average price of $111.33, for a total value of $43,641.36. Following the completion of the sale, the chief accounting officer now directly owns 4,891 shares of the company’s stock, valued at approximately $544,515.03. The disclosure for this sale can be found here. Insiders sold 31,382 shares of company stock worth $3,731,129 over the last ninety days. 0.16% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. C WorldWide Group Holding A S bought a new stake in Waste Management in the 1st quarter valued at about $2,357,000. Vicus Capital acquired a new position in shares of Waste Management during the first quarter worth approximately $206,000. Blue Zone Wealth Advisors LLC grew its position in Waste Management by 38.2% in the 1st quarter. Blue Zone Wealth Advisors LLC now owns 20,632 shares of the business services provider’s stock valued at $2,662,000 after purchasing an additional 5,700 shares during the period. Robeco Schweiz AG raised its holdings in Waste Management by 86.4% during the first quarter. Robeco Schweiz AG now owns 716,400 shares of the business services provider’s stock worth $92,430,000 after buying an additional 332,000 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in shares of Waste Management in the first quarter valued at $341,000. 71.42% of the stock is currently owned by institutional investors.

The firm has a market cap of $59.52 billion, a P/E ratio of 37.13, a PEG ratio of 4.70 and a beta of 0.72. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.39. The company’s 50-day moving average is $130.89 and its two-hundred day moving average is $119.70.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Tuesday, April 27th. The business services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.05. Waste Management had a return on equity of 25.84% and a net margin of 10.66%. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period last year, the business earned $0.93 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Research analysts anticipate that Waste Management, Inc. will post 3.84 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 26th. Investors of record on Friday, March 12th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.63%. This is an increase from Waste Management’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Thursday, March 11th. Waste Management’s dividend payout ratio (DPR) is presently 52.27%.

About Waste Management (NYSE:WM)

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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