Waste Management (NYSE:WM) Reaches New 52-Week High at $213.63

Waste Management, Inc. (NYSE:WMGet Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $213.63 and last traded at $213.12, with a volume of 167718 shares trading hands. The stock had previously closed at $211.77.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup upped their target price on shares of Waste Management from $215.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Oppenheimer upped their target price on shares of Waste Management from $188.00 to $212.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Jefferies Financial Group upped their target price on shares of Waste Management from $230.00 to $256.00 and gave the company a “buy” rating in a report on Monday, March 18th. BMO Capital Markets upped their target price on shares of Waste Management from $184.00 to $196.00 and gave the company a “market perform” rating in a report on Wednesday, February 14th. Finally, Stifel Nicolaus upped their target price on shares of Waste Management from $190.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.47.

Read Our Latest Analysis on Waste Management

Waste Management Price Performance

The company has a debt-to-equity ratio of 2.30, a current ratio of 0.90 and a quick ratio of 0.86. The company’s 50-day simple moving average is $200.06 and its 200-day simple moving average is $179.12. The company has a market cap of $85.60 billion, a price-to-earnings ratio of 37.66, a P/E/G ratio of 3.25 and a beta of 0.72.

Waste Management (NYSE:WMGet Free Report) last issued its quarterly earnings data on Monday, February 12th. The business services provider reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.21. Waste Management had a net margin of 11.28% and a return on equity of 36.51%. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the company earned $1.30 earnings per share. On average, equities research analysts anticipate that Waste Management, Inc. will post 6.88 EPS for the current year.

Waste Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.75 per share. The ex-dividend date was Thursday, March 14th. This is a boost from Waste Management’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 1.41%. Waste Management’s dividend payout ratio (DPR) is 53.00%.

Insider Buying and Selling

In related news, CEO James C. Fish, Jr. sold 9,550 shares of Waste Management stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $182.00, for a total transaction of $1,738,100.00. Following the sale, the chief executive officer now directly owns 152,838 shares in the company, valued at $27,816,516. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO James C. Fish, Jr. sold 9,550 shares of Waste Management stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $182.00, for a total transaction of $1,738,100.00. Following the transaction, the chief executive officer now directly owns 152,838 shares of the company’s stock, valued at $27,816,516. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John C. Pope sold 185 shares of Waste Management stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $181.00, for a total value of $33,485.00. Following the transaction, the director now directly owns 56,461 shares in the company, valued at $10,219,441. The disclosure for this sale can be found here. Insiders have sold 30,242 shares of company stock worth $5,929,355 over the last ninety days. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Waste Management

Several institutional investors and hedge funds have recently bought and sold shares of WM. Acadian Asset Management LLC increased its position in Waste Management by 534.5% in the 1st quarter. Acadian Asset Management LLC now owns 3,344 shares of the business services provider’s stock worth $530,000 after buying an additional 2,817 shares during the period. Blair William & Co. IL grew its position in Waste Management by 0.7% in the first quarter. Blair William & Co. IL now owns 53,067 shares of the business services provider’s stock valued at $8,411,000 after acquiring an additional 370 shares during the period. Baird Financial Group Inc. grew its position in Waste Management by 0.6% in the first quarter. Baird Financial Group Inc. now owns 358,624 shares of the business services provider’s stock valued at $56,842,000 after acquiring an additional 2,309 shares during the period. Covestor Ltd boosted its stake in Waste Management by 83.8% in the first quarter. Covestor Ltd now owns 680 shares of the business services provider’s stock worth $108,000 after purchasing an additional 310 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Waste Management by 44.8% in the first quarter. NewEdge Advisors LLC now owns 33,030 shares of the business services provider’s stock worth $5,234,000 after purchasing an additional 10,212 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

About Waste Management

(Get Free Report)

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.

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