Waste Management (NYSE:WM) Price Target Raised to $263.00 at Oppenheimer

Waste Management (NYSE:WM) had its price target raised by Oppenheimer from $262.00 to $263.00 in a research note released on Tuesday,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

A number of other equities analysts have also recently issued reports on WM. Royal Bank Of Canada cut their price objective on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 29th. Citigroup increased their price target on Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Erste Group Bank downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Truist Financial set a $260.00 target price on Waste Management in a report on Wednesday, October 29th. Finally, DZ Bank began coverage on shares of Waste Management in a research note on Tuesday, November 25th. They set a “buy” rating and a $250.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $249.18.

Waste Management Stock Up 0.3%

Shares of NYSE:WM opened at $219.00 on Tuesday. Waste Management has a 52-week low of $194.11 and a 52-week high of $242.58. The company has a market capitalization of $88.23 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 2.69 and a beta of 0.58. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.80 and a current ratio of 0.84. The company has a fifty day moving average of $211.30 and a 200-day moving average of $221.44.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The firm had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period in the prior year, the company earned $1.96 EPS. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities analysts predict that Waste Management will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, December 5th. Waste Management’s dividend payout ratio is presently 51.97%.

Insider Activity

In other news, SVP Rafael Carrasco sold 1,380 shares of Waste Management stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total transaction of $299,542.80. Following the sale, the senior vice president directly owned 15,540 shares in the company, valued at $3,373,112.40. The trade was a 8.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Waste Management

Several large investors have recently added to or reduced their stakes in WM. Cornerstone Planning Group LLC lifted its stake in Waste Management by 101.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock worth $29,000 after purchasing an additional 67 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Waste Management in the third quarter worth $30,000. Saudi Central Bank bought a new stake in Waste Management during the first quarter valued at $37,000. GKV Capital Management Co. Inc. purchased a new position in Waste Management during the first quarter worth about $38,000. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of Waste Management in the 2nd quarter valued at about $40,000. Hedge funds and other 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.