Analysts Set Waste Management, Inc. (NYSE:WM) Target Price at $254.59

Waste Management, Inc. (NYSE:WM) has earned a consensus rating of “Moderate Buy” from the twenty-five research firms that are covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $254.5909.

A number of research analysts have recently commented on WM shares. Morgan Stanley reduced their price target on shares of Waste Management from $232.00 to $230.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Barclays lowered their price target on Waste Management from $266.00 to $265.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. TD Cowen raised their target price on shares of Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, January 30th. The Goldman Sachs Group assumed coverage on shares of Waste Management in a research report on Monday, November 24th. They set a “buy” rating and a $256.00 price objective on the stock. Finally, Wells Fargo & Company raised their price target on Waste Management from $250.00 to $273.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th.

Waste Management Stock Performance

Shares of WM opened at $231.18 on Friday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a market capitalization of $93.24 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 2.44 and a beta of 0.57. Waste Management has a 52-week low of $194.11 and a 52-week high of $248.13. The stock’s 50-day simple moving average is $231.38 and its 200 day simple moving average is $220.63.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.02). The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.39 billion. Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.70 earnings per share. Research analysts forecast that Waste Management will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, March 13th. This is a positive change from Waste Management’s previous quarterly dividend of $0.83. Waste Management’s dividend payout ratio is 56.42%.

Insider Activity at Waste Management

In other news, VP Michael J. Watson sold 17,251 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $241.81, for a total transaction of $4,171,464.31. Following the completion of the transaction, the vice president directly owned 44,146 shares of the company’s stock, valued at approximately $10,674,944.26. This represents a 28.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO John J. Morris sold 4,211 shares of Waste Management stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $243.38, for a total value of $1,024,873.18. Following the completion of the sale, the chief operating officer owned 99,929 shares in the company, valued at approximately $24,320,720.02. This represents a 4.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 98,042 shares of company stock worth $23,039,777 over the last ninety days. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Waste Management in the 4th quarter worth approximately $1,022,916,000. Vontobel Holding Ltd. grew its holdings in shares of Waste Management by 444.3% during the third quarter. Vontobel Holding Ltd. now owns 2,206,026 shares of the business services provider’s stock valued at $487,157,000 after buying an additional 1,800,728 shares during the last quarter. Capital International Investors lifted its position in Waste Management by 218.3% in the 3rd quarter. Capital International Investors now owns 1,369,805 shares of the business services provider’s stock valued at $302,494,000 after acquiring an additional 939,455 shares in the last quarter. Holocene Advisors LP lifted its holdings in shares of Waste Management by 163.7% during the third quarter. Holocene Advisors LP now owns 1,400,701 shares of the business services provider’s stock valued at $309,317,000 after purchasing an additional 869,453 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Waste Management by 982.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 886,164 shares of the business services provider’s stock worth $195,692,000 after buying an additional 804,285 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Company Profile

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.