Waste Management, Inc. (NYSE:WM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Waste Management, Inc. (NYSE:WM) have been given an average rating of “Moderate Buy” by the ten research firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $179.18.

A number of equities research analysts have weighed in on the stock. BMO Capital Markets cut their price objective on shares of Waste Management from $167.00 to $166.00 in a report on Thursday, July 27th. Citigroup cut their price target on shares of Waste Management from $204.00 to $202.00 in a report on Thursday, July 27th. StockNews.com started coverage on shares of Waste Management in a report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Raymond James cut their price target on shares of Waste Management from $185.00 to $179.00 and set an “outperform” rating on the stock in a report on Thursday, July 27th.

Insider Buying and Selling

In related news, Director Bruce E. Chinn sold 172 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $159.44, for a total transaction of $27,423.68. Following the sale, the director now directly owns 822 shares of the company’s stock, valued at $131,059.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John C. Pope sold 198 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $168.40, for a total value of $33,343.20. Following the completion of the transaction, the director now owns 56,147 shares of the company’s stock, valued at $9,455,154.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bruce E. Chinn sold 172 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $159.44, for a total transaction of $27,423.68. Following the completion of the transaction, the director now directly owns 822 shares of the company’s stock, valued at approximately $131,059.68. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Waste Management

Hedge funds have recently added to or reduced their stakes in the company. Spirit of America Management Corp NY acquired a new stake in Waste Management in the second quarter valued at approximately $26,000. Mizuho Securities Co. Ltd. acquired a new stake in Waste Management during the second quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Waste Management during the first quarter worth approximately $29,000. Ten Capital Wealth Advisors LLC raised its holdings in Waste Management by 1,106.7% during the first quarter. Ten Capital Wealth Advisors LLC now owns 181 shares of the business services provider’s stock worth $30,000 after purchasing an additional 166 shares in the last quarter. Finally, Steward Financial Group LLC acquired a new stake in Waste Management during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 78.34% of the company’s stock.

Waste Management Stock Performance

Shares of NYSE:WM opened at $155.96 on Thursday. The company has a market cap of $63.17 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 2.66 and a beta of 0.72. The company has a 50-day moving average price of $163.74 and a 200-day moving average price of $162.04. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 2.14. Waste Management has a 12 month low of $148.31 and a 12 month high of $174.74.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Tuesday, July 25th. The business services provider reported $1.51 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.03). Waste Management had a net margin of 11.42% and a return on equity of 33.81%. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period last year, the company posted $1.44 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. As a group, equities analysts anticipate that Waste Management will post 5.96 EPS for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Thursday, September 7th. Waste Management’s dividend payout ratio is presently 50.36%.

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.