Waste Management (NYSE:WM) Given New $220.00 Price Target at CIBC

Waste Management (NYSE:WM) had its price objective upped by CIBC from $207.00 to $220.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

Several other research analysts have also weighed in on the company. Stifel Nicolaus boosted their price target on Waste Management from $215.00 to $227.00 and gave the stock a buy rating in a research report on Friday. StockNews.com raised shares of Waste Management from a buy rating to a strong-buy rating in a research report on Tuesday, April 9th. HSBC downgraded shares of Waste Management from a buy rating to a hold rating and set a $210.00 price objective for the company. in a research report on Thursday, February 15th. Truist Financial upped their target price on shares of Waste Management from $220.00 to $240.00 and gave the company a buy rating in a report on Friday. Finally, BMO Capital Markets lifted their price target on Waste Management from $207.00 to $212.00 and gave the stock a market perform rating in a report on Friday. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $215.88.

Waste Management Trading Up 1.0 %

Shares of NYSE:WM opened at $212.10 on Monday. The firm has a market cap of $85.07 billion, a price-to-earnings ratio of 34.71, a PEG ratio of 2.81 and a beta of 0.72. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. Waste Management has a 12 month low of $149.71 and a 12 month high of $214.54. The company’s fifty day simple moving average is $208.75 and its 200 day simple moving average is $187.69.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The firm had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the business posted $1.31 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, research analysts forecast that Waste Management will post 7.09 EPS for the current fiscal year.

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.75 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s payout ratio is 49.10%.

Insider Activity at Waste Management

In other news, EVP John J. Morris sold 8,889 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $207.46, for a total value of $1,844,111.94. Following the sale, the executive vice president now directly owns 95,461 shares in the company, valued at approximately $19,804,339.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP John J. Morris sold 8,889 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $207.46, for a total value of $1,844,111.94. Following the completion of the transaction, the executive vice president now directly owns 95,461 shares in the company, valued at approximately $19,804,339.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Devina A. Rankin sold 775 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total value of $153,899.50. Following the sale, the chief financial officer now owns 75,204 shares in the company, valued at approximately $14,934,010.32. The disclosure for this sale can be found here. Insiders have sold 18,007 shares of company stock valued at $3,696,520 over the last ninety days. 0.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WM. Mayflower Financial Advisors LLC increased its position in Waste Management by 1.2% in the 1st quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock valued at $911,000 after acquiring an additional 50 shares during the period. McAdam LLC increased its holdings in Waste Management by 4.0% in the first quarter. McAdam LLC now owns 1,317 shares of the business services provider’s stock valued at $281,000 after purchasing an additional 51 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in Waste Management by 2.7% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,053 shares of the business services provider’s stock worth $438,000 after buying an additional 53 shares during the period. Field & Main Bank grew its position in shares of Waste Management by 0.5% in the 1st quarter. Field & Main Bank now owns 11,649 shares of the business services provider’s stock valued at $2,483,000 after buying an additional 54 shares during the last quarter. Finally, Quent Capital LLC increased its stake in shares of Waste Management by 7.3% in the fourth quarter. Quent Capital LLC now owns 810 shares of the business services provider’s stock valued at $145,000 after buying an additional 55 shares during the period. Institutional investors own 80.40% of the company’s stock.

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.