Waste Management (NYSE:WM) Price Target Raised to $270.00

Waste Management (NYSE:WM) had its price target hoisted by UBS Group from $265.00 to $270.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

Other equities analysts have also issued research reports about the stock. Scotiabank increased their price target on shares of Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a research report on Thursday, July 16th. Wells Fargo & Company reduced their target price on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Oppenheimer lowered their price target on shares of Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a report on Wednesday, July 8th. Royal Bank Of Canada increased their price objective on Waste Management from $240.00 to $244.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce raised Waste Management from a “hold” rating to an “outperformer” rating and set a $244.00 target price for the company in a research report on Tuesday, July 7th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $258.89.

Waste Management Stock Performance

Shares of Waste Management stock opened at $229.14 on Tuesday. The business’s fifty day simple moving average is $226.36 and its 200 day simple moving average is $227.87. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. Waste Management has a 12 month low of $194.11 and a 12 month high of $248.13. The firm has a market capitalization of $91.59 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 2.76 and a beta of 0.44.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.04. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The firm had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the company earned $1.92 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts anticipate that Waste Management will post 8.14 EPS for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were given a dividend of $0.945 per share. The ex-dividend date was Friday, June 5th. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. Waste Management’s dividend payout ratio is currently 53.54%.

Institutional Trading of Waste Management

A number of hedge funds and other institutional investors have recently made changes to their positions in WM. Elevated Capital Advisors LLC purchased a new stake in Waste Management during the 4th quarter worth about $25,000. Financial Network Wealth Advisors LLC increased its position in shares of Waste Management by 55.3% during the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after buying an additional 47 shares during the period. RHL Group LLC purchased a new stake in shares of Waste Management in the fourth quarter worth about $29,000. Mcguire Capital Advisors Inc. bought a new position in shares of Waste Management in the fourth quarter valued at approximately $29,000. Finally, JPL Wealth Management LLC bought a new position in shares of Waste Management in the third quarter valued at approximately $30,000. 80.40% of the stock is currently owned by institutional investors.

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.