Waste Management (NYSE:WM) Price Target Raised to $273.00 at Wells Fargo & Company

Waste Management (NYSE:WM) had its target price raised by Wells Fargo & Company from $250.00 to $273.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

A number of other equities research analysts have also weighed in on WM. Royal Bank Of Canada lifted 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. Morgan Stanley reduced their price objective on shares of Waste Management from $232.00 to $230.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Sanford C. Bernstein raised their price target on Waste Management from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Weiss Ratings upgraded shares of Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Finally, Barclays decreased their target price on Waste Management from $266.00 to $265.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $254.59.

Waste Management Stock Down 0.9%

Shares of NYSE WM opened at $233.92 on Wednesday. Waste Management has a 1 year low of $194.11 and a 1 year high of $248.13. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.85. The company has a market cap of $94.35 billion, a P/E ratio of 34.91, a PEG ratio of 2.49 and a beta of 0.57. The firm has a 50-day simple moving average of $230.86 and a two-hundred day simple moving average of $220.56.

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

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.945 dividend. This is an increase from Waste Management’s previous quarterly dividend of $0.83. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, March 13th. Waste Management’s payout ratio is 56.42%.

Insider Buying and Selling at Waste Management

In other news, COO John J. Morris sold 7,979 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $245.07, for a total transaction of $1,955,413.53. Following the transaction, the chief operating officer directly owned 98,656 shares in the company, valued at $24,177,625.92. The trade was a 7.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donald J. Smith sold 12,194 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $233.48, for a total value of $2,847,055.12. Following the transaction, the vice president directly owned 6,024 shares in the company, valued at $1,406,483.52. This trade represents a 66.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 98,042 shares of company stock worth $23,039,777. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Waste Management

Several large investors have recently modified their holdings of WM. Cornercap Investment Counsel Inc. acquired a new position in Waste Management during the 3rd quarter worth about $1,583,000. Lockheed Martin Investment Management Co. acquired a new stake in Waste Management in the third quarter valued at approximately $3,092,000. Guerra Advisors Inc lifted its position in shares of Waste Management by 59.5% during the 3rd quarter. Guerra Advisors Inc now owns 9,037 shares of the business services provider’s stock worth $1,996,000 after purchasing an additional 3,371 shares during the last quarter. Compass Wealth Management LLC lifted its holdings in Waste Management by 537.0% during the 3rd quarter. Compass Wealth Management LLC now owns 95,721 shares of the business services provider’s stock worth $21,138,000 after buying an additional 80,695 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Waste Management by 19.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,287 shares of the business services provider’s stock worth $15,301,000 after purchasing an additional 11,135 shares during the last quarter. Institutional investors and hedge funds 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.