Waste Management (NYSE:WM) Trading Up 4.6% After Strong Earnings

Waste Management, Inc. (NYSE:WM) shares shot up 4.6% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $218.85 and last traded at $217.90. 721,884 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 1,608,221 shares. The stock had previously closed at $208.26.

The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the company earned $1.63 EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio is presently 47.69%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. CIBC upped their target price on Waste Management from $213.00 to $228.00 and gave the company a “neutral” rating in a research note on Wednesday. Oppenheimer lifted their target price on Waste Management from $224.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday. Robert W. Baird lowered their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. William Blair initiated coverage on Waste Management in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Finally, BMO Capital Markets increased their target price on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.28.

Institutional Trading of Waste Management

A number of institutional investors and hedge funds have recently modified their holdings of WM. Trium Capital LLP grew its holdings in shares of Waste Management by 33.6% in the 3rd quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock worth $2,498,000 after purchasing an additional 3,029 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in Waste Management by 77.4% during the third quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock worth $2,553,000 after buying an additional 5,367 shares during the last quarter. Pinkerton Retirement Specialists LLC grew its position in Waste Management by 18.6% during the 1st quarter. Pinkerton Retirement Specialists LLC now owns 20,099 shares of the business services provider’s stock worth $4,284,000 after acquiring an additional 3,145 shares during the last quarter. Norden Group LLC bought a new stake in shares of Waste Management during the first quarter worth $7,146,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Waste Management by 417.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock worth $720,000 after purchasing an additional 2,800 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Down 1.9 %

The firm has a fifty day moving average price of $209.14 and a 200 day moving average price of $208.72. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The company has a market cap of $86.26 billion, a P/E ratio of 34.17, a PEG ratio of 2.29 and a beta of 0.74.

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.