Waste Management (NYSE:WM) Price Target Raised to $260.00

Waste Management (NYSE:WM) had its price target increased by Scotiabank from $255.00 to $260.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a sector outperform rating on the business services provider’s stock.

Other research analysts have also recently issued reports about the company. CIBC upped their price objective on Waste Management from $227.00 to $247.00 and gave the company a “neutral” rating in a report on Wednesday, March 5th. Stifel Nicolaus boosted their price objective on shares of Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Jefferies Financial Group lowered their target price on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Oppenheimer boosted their price target on shares of Waste Management from $231.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, William Blair reiterated an “outperform” rating on shares of Waste Management in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $236.94.

Waste Management Trading Up 0.9 %

Shares of Waste Management stock opened at $226.55 on Tuesday. Waste Management has a 1-year low of $196.59 and a 1-year high of $239.32. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. The stock has a market cap of $91.15 billion, a P/E ratio of 33.32, a P/E/G ratio of 2.71 and a beta of 0.66. The stock’s 50 day simple moving average is $227.19 and its 200-day simple moving average is $218.04.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. Analysts predict that Waste Management will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s dividend payout ratio (DPR) is presently 48.53%.

Insider Transactions at Waste Management

In related news, EVP John J. Morris sold 19,153 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.71, for a total value of $4,303,870.63. Following the completion of the sale, the executive vice president now directly owns 85,257 shares of the company’s stock, valued at $19,158,100.47. The trade was a 18.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO John A. Carroll sold 209 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.55, for a total value of $46,094.95. Following the transaction, the chief accounting officer now directly owns 9,066 shares in the company, valued at approximately $1,999,506.30. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,577 shares of company stock valued at $21,662,464. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Waste Management

A number of large investors have recently bought and sold shares of WM. Global Wealth Strategies & Associates lifted its position in Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after acquiring an additional 125 shares during the period. Transce3nd LLC acquired a new stake in shares of Waste Management during the fourth quarter worth $28,000. General Partner Inc. purchased a new position in Waste Management in the 4th quarter valued at $29,000. Halbert Hargrove Global Advisors LLC acquired a new position in Waste Management in the 4th quarter valued at $33,000. Finally, Hurley Capital LLC purchased a new position in Waste Management during the 4th quarter worth $34,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

About Waste Management

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.