Analysts Set Waste Management, Inc. (NYSE:WM) PT at $170.75

Shares of Waste Management, Inc. (NYSE:WMGet Rating) have earned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $170.75.

A number of research analysts have recently commented on the stock. Raymond James reduced their target price on shares of Waste Management from $173.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 25th. Morgan Stanley decreased their price objective on shares of Waste Management from $180.00 to $177.00 and set an “equal weight” rating for the company in a research report on Thursday, October 27th. Jefferies Financial Group raised Waste Management from a “hold” rating to a “buy” rating and lifted their target price for the stock from $170.00 to $191.00 in a research report on Tuesday, October 25th. StockNews.com upgraded Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Finally, Oppenheimer dropped their price target on Waste Management to $169.00 in a research report on Thursday, October 20th.

Waste Management Trading Down 1.9 %

Shares of WM opened at $158.16 on Friday. Waste Management has a twelve month low of $138.58 and a twelve month high of $175.98. The firm has a market capitalization of $64.92 billion, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 2.25 and a beta of 0.71. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 1.97. The stock’s fifty day simple moving average is $162.93 and its 200 day simple moving average is $160.40.

Waste Management (NYSE:WMGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The business services provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.49 by $0.07. Waste Management had a net margin of 11.55% and a return on equity of 32.48%. The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter last year, the firm posted $1.26 earnings per share. Waste Management’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts forecast that Waste Management will post 5.7 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, December 1st. Waste Management’s payout ratio is presently 48.33%.

Insider Transactions at Waste Management

In other news, CFO Devina A. Rankin sold 22,082 shares of Waste Management stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $175.00, for a total transaction of $3,864,350.00. Following the completion of the sale, the chief financial officer now directly owns 50,516 shares in the company, valued at approximately $8,840,300. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Desjardins Global Asset Management Inc. bought a new stake in Waste Management during the 2nd quarter valued at approximately $25,000. McClarren Financial Advisors Inc. bought a new position in Waste Management during the third quarter worth $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Waste Management during the 2nd quarter valued at $30,000. Twin Lakes Capital Management LLC bought a new stake in Waste Management in the 3rd quarter valued at $31,000. Finally, GoalVest Advisory LLC grew its position in Waste Management by 2,030.0% in the 2nd quarter. GoalVest Advisory LLC now owns 213 shares of the business services provider’s stock worth $32,000 after purchasing an additional 203 shares during the last quarter. 74.74% of the stock is owned by institutional investors.

Waste Management Company Profile

(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.

Further Reading

Analyst Recommendations for Waste Management (NYSE:WM)

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