Waste Management (NYSE:WM) PT Raised to $229.00

Waste Management (NYSE:WM) had its price objective boosted by Raymond James from $219.00 to $229.00 in a research note issued to investors on Friday, Benzinga reports. Raymond James currently has an outperform rating on the business services provider’s stock.

Several other research firms have also recently commented on WM. JPMorgan Chase & Co. boosted their price target on shares of Waste Management from $165.00 to $197.00 and gave the company a neutral rating in a report on Thursday, February 15th. Royal Bank of Canada raised their price target on Waste Management from $211.00 to $215.00 and gave the stock a sector perform rating in a research note on Friday. Citigroup increased their price objective on Waste Management from $215.00 to $226.00 and gave the stock a buy rating in a report on Thursday, February 15th. Oppenheimer boosted their target price on shares of Waste Management from $221.00 to $228.00 and gave the stock an outperform rating in a research report on Friday. Finally, Stifel Nicolaus raised their price target on shares of Waste Management from $215.00 to $227.00 and gave the company a buy rating in a report on Friday. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $215.88.

Waste Management Stock Performance

Shares of WM stock opened at $212.10 on Friday. The company has a market capitalization of $85.07 billion, a price-to-earnings ratio of 34.71, a P/E/G ratio of 2.81 and a beta of 0.72. Waste Management has a 1-year low of $149.71 and a 1-year high of $214.54. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23. The stock’s fifty day simple moving average is $208.75 and its 200-day simple moving average is $187.69.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.23. The company had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.31 EPS. On average, sell-side analysts predict that Waste Management will post 7.09 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Thursday, March 14th. This is a boost from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Insider Activity at Waste Management

In related news, SVP Christopher P. Desantis sold 346 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $199.64, for a total value of $69,075.44. Following the completion of the transaction, the senior vice president now directly owns 8,218 shares in the company, valued at $1,640,641.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Charles C. Boettcher sold 3,275 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $199.49, for a total value of $653,329.75. Following the sale, the executive vice president now directly owns 36,403 shares in the company, valued at approximately $7,262,034.47. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Christopher P. Desantis sold 346 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $199.64, for a total value of $69,075.44. Following the transaction, the senior vice president now owns 8,218 shares of the company’s stock, valued at approximately $1,640,641.52. The disclosure for this sale can be found here. Insiders have sold 18,007 shares of company stock worth $3,696,520 over the last three months. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

Several institutional investors and hedge funds have recently made changes to their positions in WM. Hexagon Capital Partners LLC grew its position in Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares during the last quarter. Sachetta LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at $27,000. Gilfoyle & Co LLC bought a new position in shares of Waste Management in the fourth quarter valued at about $30,000. Millburn Ridgefield Corp acquired a new position in Waste Management during the 3rd quarter worth about $35,000. Finally, Opal Wealth Advisors LLC bought a new stake in Waste Management during the 1st quarter worth about $35,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

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.