Waste Management (NYSE:WM) Given New $266.00 Price Target at Barclays

Waste Management (NYSE:WM) had its price target decreased by Barclays from $271.00 to $266.00 in a research note released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the business services provider’s stock.

A number of other equities research analysts have also issued reports on WM. BMO Capital Markets lifted their target price on Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a research report on Wednesday, July 30th. Erste Group Bank lowered Waste Management from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. National Bankshares decreased their price target on Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. Weiss Ratings restated a “buy (b)” rating on shares of Waste Management in a research note on Wednesday, October 8th. Finally, Oppenheimer restated an “outperform” rating and issued a $262.00 price target on shares of Waste Management in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $248.95.

Waste Management Stock Down 3.3%

Shares of Waste Management stock opened at $197.52 on Wednesday. The business’s 50 day simple moving average is $218.54 and its 200 day simple moving average is $226.72. Waste Management has a 52-week low of $197.02 and a 52-week high of $242.58. The firm has a market cap of $79.57 billion, a PE ratio of 31.11, a P/E/G ratio of 2.52 and a beta of 0.64. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.82 and a current ratio of 0.84.

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 analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The firm had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period in the prior year, the business posted $1.96 EPS. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. On average, analysts predict that Waste Management will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a $0.825 dividend. The ex-dividend date was Friday, September 12th. This represents a $3.30 annualized dividend and a yield of 1.7%. Waste Management’s payout ratio is 51.97%.

Institutional Trading of Waste Management

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Waste Management by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 37,662,207 shares of the business services provider’s stock valued at $8,617,866,000 after acquiring an additional 292,868 shares in the last quarter. Geode Capital Management LLC raised its holdings in Waste Management by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider’s stock valued at $1,972,856,000 after acquiring an additional 126,329 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Waste Management by 1.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,390,971 shares of the business services provider’s stock valued at $1,232,131,000 after acquiring an additional 74,528 shares in the last quarter. Norges Bank acquired a new position in Waste Management in the 2nd quarter valued at $1,064,206,000. Finally, Northern Trust Corp raised its holdings in Waste Management by 1.8% in the 1st quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider’s stock valued at $941,709,000 after acquiring an additional 70,907 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.