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

Waste Management, Inc. (NYSE:WM) has received a consensus rating of “Moderate Buy” from the twenty-five research firms that are presently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $255.6364.

A number of analysts have recently commented on the company. Wolfe Research assumed coverage on Waste Management in a research note on Friday, March 13th. They issued a “peer perform” rating on the stock. TD Cowen upped their target price on Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Oppenheimer increased their price target on Waste Management from $263.00 to $264.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. increased their price target on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Finally, Scotiabank reiterated a “sector perform” rating and set a $250.00 price target (down from $254.00) on shares of Waste Management in a research report on Wednesday, January 21st.

Waste Management Stock Down 0.0%

Shares of WM opened at $223.97 on Tuesday. Waste Management has a 52 week low of $194.11 and a 52 week high of $248.13. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.22. The company has a market capitalization of $90.24 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 2.37 and a beta of 0.54. The stock’s 50-day moving average price is $233.24 and its 200-day moving average price is $222.11.

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

Waste Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a dividend of $0.945 per share. This is an increase from Waste Management’s previous quarterly dividend of $0.83. This represents a $3.78 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, March 13th. Waste Management’s dividend payout ratio (DPR) is currently 56.42%.

Insider Activity at Waste Management

In other Waste Management news, COO John J. Morris sold 7,979 shares of the 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 owned 98,656 shares in the company, valued at approximately $24,177,625.92. This represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Donald J. Smith sold 12,194 shares of the stock in a transaction that occurred 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 owned 6,024 shares in the company, valued at $1,406,483.52. This represents a 66.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 98,042 shares of company stock valued at $23,039,777 in the last ninety days. 0.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Waste Management

Hedge funds and other institutional investors have recently made changes to their positions in the company. Elevated Capital Advisors LLC purchased a new position in shares of Waste Management in the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC lifted its position in shares of Waste Management by 101.5% in the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 67 shares in the last quarter. RHL Group LLC purchased a new position in shares of Waste Management in the fourth quarter valued at approximately $29,000. Financial Network Wealth Advisors LLC lifted its position in shares of Waste Management by 55.3% in the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 47 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new position in shares of Waste Management in the fourth quarter valued at approximately $29,000. 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.