Waste Management, Inc. (NYSE:WM) Receives $254.82 Consensus Target Price from Brokerages

Waste Management, Inc. (NYSE:WM) has earned a consensus recommendation of “Moderate Buy” from the twenty-five research firms that are covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $255.6364.

WM has been the topic of several recent research reports. Royal Bank Of Canada increased their target price on Waste Management from $223.00 to $235.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Wells Fargo & Company increased their target price on Waste Management from $250.00 to $273.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. Oppenheimer raised their price objective on Waste Management from $263.00 to $264.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. TD Cowen raised their price objective on Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Barclays lowered their price objective on Waste Management from $266.00 to $265.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th.

Waste Management Stock Down 0.4%

Shares of NYSE WM opened at $223.98 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.22. The stock has a market capitalization of $90.24 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 2.38 and a beta of 0.54. The stock’s fifty day simple moving average is $233.30 and its two-hundred day simple moving average is $222.06. Waste Management has a 12-month low of $194.11 and a 12-month high of $248.13.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) 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 firm’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $1.70 EPS. As a group, analysts expect that Waste Management will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, March 13th. This is a positive change from Waste Management’s previous quarterly dividend of $0.83. Waste Management’s payout ratio is 56.42%.

Insider Transactions at Waste Management

In other news, COO John J. Morris sold 4,211 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $24,320,720.02. This trade represents a 4.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Johnson Varkey sold 121 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $245.27, for a total value of $29,677.67. Following the completion of the sale, the senior vice president directly owned 9,293 shares of the company’s stock, valued at $2,279,294.11. The trade was a 1.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 98,042 shares of company stock worth $23,039,777. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Waste Management

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC purchased a new position in Waste Management in the 4th quarter worth $25,000. Financial Network Wealth Advisors LLC raised its stake in Waste Management by 55.3% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock worth $29,000 after acquiring an additional 47 shares during the last quarter. Cornerstone Planning Group LLC raised 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 acquiring an additional 67 shares during the last quarter. RHL Group LLC purchased a new position in Waste Management in the 4th quarter worth $29,000. Finally, Mcguire Capital Advisors Inc. purchased a new position in Waste Management in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

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.