Waste Management (NYSE:WM) Given New $265.00 Price Target at Barclays

Waste Management (NYSE:WM) had its price objective cut by Barclays from $266.00 to $265.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other brokerages have also recently weighed in on WM. Stifel Nicolaus dropped their price target on shares of Waste Management from $252.00 to $236.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Wells Fargo & Company started coverage on Waste Management in a research report on Friday, November 14th. They set an “overweight” rating and a $238.00 target price on the stock. Citigroup cut their price target on Waste Management from $270.00 to $263.00 and set a “buy” rating for the company in a report on Friday, January 16th. JPMorgan Chase & Co. raised their price objective on Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, December 1st. Finally, Scotiabank cut their price objective on Waste Management from $264.00 to $254.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 29th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $250.41.

Waste Management Stock Up 0.0%

Waste Management stock opened at $221.29 on Tuesday. Waste Management has a one year low of $194.11 and a one year high of $242.58. The stock has a fifty day moving average of $216.51 and a 200 day moving average of $219.08. 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 stock has a market cap of $89.15 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 2.48 and a beta of 0.59.

Waste Management (NYSE:WM) last announced its earnings results 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 return on equity of 33.00% and a net margin of 10.35%.The firm had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the previous year, the business posted $1.96 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, sell-side analysts predict that Waste Management will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, December 5th. Waste Management’s payout ratio is 51.97%.

Insiders Place Their Bets

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of Waste Management stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the sale, the senior vice president directly owned 15,540 shares in the company, valued at approximately $3,373,112.40. The trade was a 8.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cornercap Investment Counsel Inc. purchased a new stake in shares of Waste Management in the 3rd quarter valued at approximately $1,583,000. Wealthfront Advisers LLC increased its holdings in Waste Management by 3.1% in the second quarter. Wealthfront Advisers LLC now owns 57,093 shares of the business services provider’s stock valued at $13,064,000 after buying an additional 1,698 shares during the last quarter. GPM Growth Investors Inc. raised its stake in Waste Management by 50.6% in the second quarter. GPM Growth Investors Inc. now owns 16,640 shares of the business services provider’s stock valued at $3,808,000 after buying an additional 5,588 shares in the last quarter. Truist Financial Corp lifted its holdings in Waste Management by 62.9% during the 2nd quarter. Truist Financial Corp now owns 268,033 shares of the business services provider’s stock worth $61,331,000 after buying an additional 103,487 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its position in shares of Waste Management by 8.1% during the 3rd quarter. Apollon Wealth Management LLC now owns 95,804 shares of the business services provider’s stock worth $21,156,000 after acquiring an additional 7,143 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

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.