Waste Management, Inc. (NYSE:WM) Receives Average Rating of “Buy” from Brokerages
Shares of Waste Management, Inc. (NYSE:WM) have been given a consensus recommendation of “Buy” by the fifteen research firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $117.40.
Several research analysts recently commented on the stock. Royal Bank of Canada set a $126.00 price objective on shares of Waste Management and gave the stock a “buy” rating in a report on Friday, July 26th. Stifel Nicolaus raised their price target on shares of Waste Management from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, July 8th. Macquarie reissued an “outperform” rating and issued a $130.00 price target on shares of Waste Management in a report on Wednesday, September 4th. Oppenheimer reissued a “market perform” rating on shares of Waste Management in a report on Thursday, July 18th. Finally, Scotiabank started coverage on shares of Waste Management in a report on Monday, July 22nd. They issued an “outperform” rating for the company.
WM traded down $0.24 on Friday, hitting $112.83. The company’s stock had a trading volume of 60,328 shares, compared to its average volume of 1,608,060. The company’s 50 day simple moving average is $117.85 and its 200-day simple moving average is $110.50. The firm has a market cap of $48.23 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 3.07 and a beta of 0.61. Waste Management has a 12 month low of $83.22 and a 12 month high of $121.77. The company has a quick ratio of 1.66, a current ratio of 1.70 and a debt-to-equity ratio of 1.95.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.512 per share. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Thursday, September 5th. Waste Management’s dividend payout ratio is currently 48.81%.
In other news, CEO James C. Fish, Jr. sold 84,314 shares of Waste Management stock in a transaction on Monday, July 8th. The shares were sold at an average price of $116.51, for a total transaction of $9,823,424.14. Following the completion of the sale, the chief executive officer now directly owns 282,921 shares of the company’s stock, valued at approximately $32,963,125.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tara J. Hmmer sold 4,739 shares of Waste Management stock in a transaction on Monday, September 9th. The stock was sold at an average price of $118.04, for a total transaction of $559,391.56. Following the sale, the senior vice president now directly owns 23,470 shares of the company’s stock, valued at $2,770,398.80. The disclosure for this sale can be found here. Insiders have sold a total of 97,361 shares of company stock valued at $11,374,563 over the last ninety days. 0.14% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC raised its position in Waste Management by 6,950.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,763,123 shares of the business services provider’s stock worth $434,152,000 after purchasing an additional 3,709,746 shares during the period. BlackRock Inc. raised its position in Waste Management by 3.1% in the 2nd quarter. BlackRock Inc. now owns 32,164,573 shares of the business services provider’s stock worth $3,710,826,000 after purchasing an additional 976,898 shares during the period. Senator Investment Group LP purchased a new position in Waste Management in the 2nd quarter worth $79,028,000. Nordea Investment Management AB raised its position in Waste Management by 22.9% in the 1st quarter. Nordea Investment Management AB now owns 2,936,324 shares of the business services provider’s stock worth $305,112,000 after purchasing an additional 547,291 shares during the period. Finally, California Public Employees Retirement System raised its position in Waste Management by 17.3% in the 2nd quarter. California Public Employees Retirement System now owns 3,395,778 shares of the business services provider’s stock worth $391,771,000 after purchasing an additional 501,763 shares during the period. 73.31% of the stock is owned by institutional investors.
About Waste Management
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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