Waste Management (NYSE:WM) Upgraded at Melius Research

Melius Research upgraded shares of Waste Management (NYSE:WM) to a strong-buy rating in a research report released on Monday morning, Marketbeat Ratings reports. Melius Research currently has $263.00 price target on the business services provider’s stock.

WM has been the subject of several other reports. National Bank Financial raised Waste Management to a “hold” rating in a report on Monday, May 26th. Royal Bank of Canada lifted their price target on Waste Management from $227.00 to $229.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 30th. Melius initiated coverage on Waste Management in a report on Monday. They set a “buy” rating for the company. Scotiabank lifted their price target on Waste Management from $255.00 to $260.00 and gave the stock a “sector outperform” rating in a report on Tuesday, April 8th. Finally, UBS Group lifted their price target on Waste Management from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Nine research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus price target of $248.00.

Waste Management Stock Performance

WM opened at $234.22 on Monday. Waste Management has a 12-month low of $196.59 and a 12-month high of $242.58. The stock has a market cap of $94.25 billion, a price-to-earnings ratio of 34.44, a PEG ratio of 2.71 and a beta of 0.66. The business has a 50 day moving average of $231.42 and a 200-day moving average of $223.70. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.08. Waste Management had a return on equity of 37.93% and a net margin of 12.45%. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.14 billion. During the same period last year, the firm posted $1.75 earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. On average, equities research analysts expect that Waste Management will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.825 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.30 annualized dividend and a dividend yield of 1.41%. Waste Management’s payout ratio is 49.77%.

Insider Activity

In related news, CFO Devina A. Rankin sold 57,888 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the sale, the chief financial officer now owns 83,934 shares in the company, valued at $19,922,574.24. The trade was a 40.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the sale, the senior vice president now owns 16,542 shares in the company, valued at $3,917,311.02. This represents a 3.91% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

A number of hedge funds and other institutional investors have recently bought and sold shares of WM. Banque Pictet & Cie SA lifted its holdings in Waste Management by 0.6% during the 4th quarter. Banque Pictet & Cie SA now owns 1,869,190 shares of the business services provider’s stock worth $377,184,000 after buying an additional 11,940 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Waste Management by 3.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 278,890 shares of the business services provider’s stock worth $55,929,000 after buying an additional 8,914 shares during the period. Brighton Jones LLC lifted its holdings in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after buying an additional 2,320 shares during the period. Guyasuta Investment Advisors Inc. lifted its holdings in Waste Management by 22.1% during the 4th quarter. Guyasuta Investment Advisors Inc. now owns 16,597 shares of the business services provider’s stock worth $3,349,000 after buying an additional 3,000 shares during the period. Finally, Weatherly Asset Management L. P. lifted its holdings in Waste Management by 1.7% during the 4th quarter. Weatherly Asset Management L. P. now owns 110,979 shares of the business services provider’s stock worth $22,394,000 after buying an additional 1,803 shares during the period. Institutional investors own 80.40% of the company’s stock.

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.