Waste Management (NYSE:WM) Reaches New 52-Week High at $157.20

Waste Management, Inc. (NYSE:WM) shares hit a new 52-week high on Thursday . The stock traded as high as $157.20 and last traded at $156.85, with a volume of 12169 shares. The stock had previously closed at $154.97.

WM has been the topic of several research reports. Oppenheimer raised their price objective on Waste Management from $146.00 to $152.00 and gave the company an “outperform” rating in a research report on Friday, July 16th. Raymond James reissued an “outperform” rating and issued a $146.70 price objective (down from $147.00) on shares of Waste Management in a research report on Monday, July 26th. BMO Capital Markets raised their target price on Waste Management from $153.00 to $159.00 and gave the company an “outperform” rating in a research note on Wednesday, July 28th. Morgan Stanley raised their target price on Waste Management from $133.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 13th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Waste Management from $138.00 to $152.00 and gave the company a “hold” rating in a research note on Thursday, July 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $139.97.

The firm has a market capitalization of $66.34 billion, a price-to-earnings ratio of 41.11, a P/E/G ratio of 2.50 and a beta of 0.81. The stock has a 50 day moving average of $152.49 and a 200 day moving average of $144.16. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 1.75.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Tuesday, July 27th. The business services provider reported $1.27 EPS for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.09. Waste Management had a return on equity of 26.32% and a net margin of 9.69%. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same period last year, the firm earned $0.88 earnings per share. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. Analysts predict that Waste Management, Inc. will post 4.92 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Friday, September 3rd were paid a $0.575 dividend. The ex-dividend date of this dividend was Thursday, September 2nd. This represents a $2.30 dividend on an annualized basis and a yield of 1.46%. Waste Management’s payout ratio is currently 57.07%.

In other news, Director John C. Pope sold 211 shares of Waste Management stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $145.90, for a total transaction of $30,784.90. Following the sale, the director now owns 54,943 shares of the company’s stock, valued at $8,016,183.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Devina A. Rankin sold 33,115 shares of Waste Management stock in a transaction that occurred on Tuesday, August 31st. The shares were sold at an average price of $155.18, for a total value of $5,138,785.70. Following the sale, the chief financial officer now directly owns 53,434 shares in the company, valued at approximately $8,291,888.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,826 shares of company stock valued at $13,292,316. 0.16% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. IAM Advisory LLC bought a new position in shares of Waste Management in the third quarter valued at $1,234,000. Schneider Downs Wealth Management Advisors LP increased its holdings in shares of Waste Management by 21.3% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 1,944 shares of the business services provider’s stock valued at $290,000 after buying an additional 341 shares in the last quarter. Burns J W & Co. Inc. NY increased its holdings in shares of Waste Management by 0.6% in the third quarter. Burns J W & Co. Inc. NY now owns 50,468 shares of the business services provider’s stock valued at $7,538,000 after buying an additional 278 shares in the last quarter. Northwest Bancshares Inc. grew its position in Waste Management by 2.1% during the 3rd quarter. Northwest Bancshares Inc. now owns 8,468 shares of the business services provider’s stock worth $1,264,000 after purchasing an additional 177 shares in the last quarter. Finally, Gofen & Glossberg LLC IL grew its position in Waste Management by 0.7% during the 3rd quarter. Gofen & Glossberg LLC IL now owns 47,960 shares of the business services provider’s stock worth $7,163,000 after purchasing an additional 346 shares in the last quarter. 74.10% of the stock is currently owned by institutional investors.

About Waste Management (NYSE:WM)

Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: Tier 1, Tier 2 and Tier 3. The Tier 1 segment comprises of areas in the Southern United States. The Tier 2 segment comprises of areas located in the Midwest and Northeast United States.

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