Waste Management, Inc. (NYSE:WM – Get Rating) declared a quarterly dividend on Monday, May 9th, RTT News reports. Investors of record on Friday, June 3rd will be given a dividend of 0.65 per share by the business services provider on Friday, June 17th. This represents a $2.60 dividend on an annualized basis and a yield of 1.63%.
Waste Management has raised its dividend payment by an average of 7.3% per year over the last three years and has raised its dividend annually for the last 20 consecutive years. Waste Management has a payout ratio of 41.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Waste Management to earn $6.17 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 42.1%.
WM stock opened at $159.24 on Tuesday. Waste Management has a 1 year low of $136.97 and a 1 year high of $170.18. The company has a market cap of $66.12 billion, a P/E ratio of 35.07, a PEG ratio of 2.83 and a beta of 0.79. The firm has a 50-day moving average of $158.21 and a 200 day moving average of $157.28. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.80 and a quick ratio of 0.76.
A number of equities analysts have weighed in on WM shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Waste Management from $157.00 to $167.00 in a research note on Thursday, April 28th. StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 28th. JPMorgan Chase & Co. started coverage on shares of Waste Management in a research note on Tuesday, March 1st. They set a “neutral” rating and a $153.00 target price for the company. downgraded shares of Waste Management to a “hold” rating in a research note on Wednesday, February 9th. Finally, BMO Capital Markets cut shares of Waste Management from an “outperform” rating to a “market perform” rating and set a $174.00 price target on the stock. in a report on Tuesday, April 12th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $161.00.
In related news, CAO Leslie K. Nagy sold 2,668 shares of the firm’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $169.72, for a total value of $452,812.96. Following the sale, the chief accounting officer now owns 4,880 shares in the company, valued at $828,233.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Tara J. Hemmer sold 10,910 shares of the firm’s stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $142.15, for a total transaction of $1,550,856.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,013 shares of company stock worth $16,222,631. Corporate insiders own 0.18% of the company’s stock.
Several institutional investors have recently modified their holdings of WM. Morgan Stanley boosted its stake in shares of Waste Management by 6.9% during the 2nd quarter. Morgan Stanley now owns 3,708,763 shares of the business services provider’s stock worth $519,634,000 after acquiring an additional 239,990 shares during the last quarter. Heritage Wealth Advisors boosted its stake in shares of Waste Management by 11.7% during the 4th quarter. Heritage Wealth Advisors now owns 8,008 shares of the business services provider’s stock worth $1,337,000 after acquiring an additional 838 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Waste Management during the 4th quarter worth $139,000. Barclays PLC boosted its stake in shares of Waste Management by 46.4% during the 4th quarter. Barclays PLC now owns 973,784 shares of the business services provider’s stock worth $162,525,000 after acquiring an additional 308,626 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp bought a new stake in shares of Waste Management during the 4th quarter valued at $768,000. Institutional investors and hedge funds own 80.37% of the company’s stock.
About Waste Management (Get Rating)
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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