Waste Management, Inc. (NYSE:WM – Get Rating) – Investment analysts at Jefferies Financial Group lifted their FY2022 earnings per share (EPS) estimates for Waste Management in a research report issued on Wednesday, July 27th. Jefferies Financial Group analyst H. Mazari now anticipates that the business services provider will post earnings per share of $5.88 for the year, up from their prior forecast of $5.77. The consensus estimate for Waste Management’s current full-year earnings is $5.55 per share. Jefferies Financial Group also issued estimates for Waste Management’s FY2023 earnings at $6.68 EPS and FY2024 earnings at $7.53 EPS.
Several other research firms also recently weighed in on WM. Bank of America upgraded Waste Management from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $155.00 to $165.00 in a research report on Friday, May 13th. Royal Bank of Canada reiterated a “maintains” rating on shares of Waste Management in a research report on Thursday. BMO Capital Markets increased their target price on Waste Management from $164.00 to $169.00 and gave the stock a “maintains” rating in a research report on Thursday. Morgan Stanley reiterated a “maintains” rating and set a $175.00 target price (up from $165.00) on shares of Waste Management in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Waste Management from $157.00 to $167.00 in a research report on Thursday, April 28th. Three research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $165.57.
Waste Management Stock Down 0.0 %
Waste Management (NYSE:WM – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.08. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.84 billion. Waste Management had a return on equity of 29.67% and a net margin of 10.32%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.27 earnings per share.
Institutional Investors Weigh In On Waste Management
A number of large investors have recently modified their holdings of WM. Norges Bank acquired a new stake in Waste Management during the 4th quarter valued at approximately $687,551,000. Caisse DE Depot ET Placement DU Quebec grew its stake in Waste Management by 7,498.0% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,005,882 shares of the business services provider’s stock valued at $334,782,000 after purchasing an additional 1,979,482 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in Waste Management during the 1st quarter valued at approximately $280,829,000. Aaron Wealth Advisors LLC grew its stake in Waste Management by 15,459.1% during the 1st quarter. Aaron Wealth Advisors LLC now owns 1,687,232 shares of the business services provider’s stock valued at $10,645,000 after purchasing an additional 1,676,388 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Waste Management by 194.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,217,592 shares of the business services provider’s stock valued at $192,988,000 after purchasing an additional 804,708 shares in the last quarter. Institutional investors and hedge funds own 80.37% of the company’s stock.
Insider Transactions at Waste Management
In other news, Director John C. Pope sold 219 shares of the stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $152.19, for a total value of $33,329.61. Following the completion of the sale, the director now owns 55,439 shares in the company, valued at $8,437,261.41. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.18% of the company’s stock.
Waste Management Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Friday, June 3rd were issued a $0.65 dividend. The ex-dividend date was Thursday, June 2nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.58%. Waste Management’s dividend payout ratio (DPR) is 57.27%.
Waste Management Company Profile
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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