Waste Management (NYSE:WM) Upgraded by UBS Group to Buy Rating

UBS Group upgraded shares of Waste Management (NYSE:WM) from a neutral rating to a buy rating in a research report report published on Friday, MarketBeat Ratings reports. The firm currently has $260.00 price target on the business services provider’s stock, up from their prior price target of $225.00.

Several other brokerages have also recently weighed in on WM. Cowen reissued a “buy” rating on shares of Waste Management in a report on Wednesday, October 29th. Truist Financial set a $260.00 price target on shares of Waste Management in a research note on Wednesday, October 29th. Royal Bank Of Canada reduced 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 note on Wednesday, October 29th. National Bankshares dropped their target price on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 7th. Finally, DZ Bank started coverage on Waste Management in a research report on Tuesday, November 25th. They issued a “buy” rating and a $250.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $250.77.

Waste Management Stock Performance

Shares of Waste Management stock opened at $220.96 on Friday. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $213.84 and a 200 day simple moving average of $219.62. Waste Management has a fifty-two week low of $194.11 and a fifty-two week high of $242.58. The firm has a market cap of $89.02 billion, a P/E ratio of 34.80, a P/E/G ratio of 2.44 and a beta of 0.59.

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

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, December 5th. Waste Management’s dividend payout ratio (DPR) is presently 51.97%.

Insider Transactions at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the completion of the sale, the senior vice president directly owned 15,540 shares in the company, valued at $3,373,112.40. This represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

A number of large investors have recently bought and sold shares of WM. Silverlake Wealth Management LLC bought a new position in Waste Management in the fourth quarter valued at approximately $472,000. Sunflower Bank N.A. acquired a new stake in shares of Waste Management during the fourth quarter worth $341,000. Clear Trail Advisors LLC bought a new stake in Waste Management in the 4th quarter valued at $330,000. Central Bank & Trust Co. boosted its stake in Waste Management by 333.1% in the 4th quarter. Central Bank & Trust Co. now owns 8,442 shares of the business services provider’s stock worth $1,855,000 after purchasing an additional 6,493 shares during the period. Finally, Diversified Trust Co. increased its holdings in Waste Management by 2.8% during the 4th quarter. Diversified Trust Co. now owns 6,404 shares of the business services provider’s stock worth $1,407,000 after purchasing an additional 175 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

About Waste Management

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.