Waste Management, Inc. (NYSE:WM) had its price objective upped by analysts at KeyCorp from $50.00 to $65.00 in a report issued on Thursday, May 11th. The firm presently has an “overweight” rating on the business services provider’s stock. KeyCorp’s price objective would suggest a potential downside of 12.33% from the company’s previous close.
Several other analysts also recently weighed in on WM. Oppenheimer Holdings, Inc. set a $75.00 target price on Waste Management and gave the company a “buy” rating in a research note on Saturday, February 18th. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, February 22nd. Barclays PLC downgraded Waste Management from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $70.00 to $73.00 in a research note on Wednesday, March 1st. They noted that the move was a valuation call. Finally, Wedbush lifted their price target on Waste Management from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $72.01.
Shares of Waste Management (NYSE WM) opened at 74.14 on Thursday. Waste Management has a 52 week low of $61.08 and a 52 week high of $74.58. The stock has a market capitalization of $32.77 billion, a PE ratio of 27.05 and a beta of 0.71. The company’s 50 day moving average price is $72.58 and its 200-day moving average price is $71.70.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, April 26th. The business services provider reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.33 billion. Waste Management had a return on equity of 24.76% and a net margin of 8.81%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $0.58 earnings per share. Equities research analysts predict that Waste Management will post $3.18 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 9th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $1.70 dividend on an annualized basis and a yield of 2.29%. Waste Management’s payout ratio is currently 62.04%.
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In other news, SVP Barry H. Caldwell sold 8,142 shares of Waste Management stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $73.52, for a total transaction of $598,599.84. Following the sale, the senior vice president now owns 35,916 shares of the company’s stock, valued at $2,640,544.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James C. Fish, Jr. sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $72.19, for a total value of $252,665.00. Following the sale, the chief executive officer now directly owns 151,162 shares in the company, valued at approximately $10,912,384.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,242 shares of company stock valued at $1,331,990. 0.19% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in shares of Waste Management by 5.8% in the first quarter. Quadrant Capital Group LLC now owns 1,424 shares of the business services provider’s stock valued at $100,000 after buying an additional 78 shares during the last quarter. Hudock Capital Group LLC raised its position in Waste Management by 0.6% in the third quarter. Hudock Capital Group LLC now owns 1,726 shares of the business services provider’s stock valued at $110,000 after buying an additional 11 shares during the period. Guardian Life Insurance Co. of America raised its position in Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock valued at $114,000 after buying an additional 14 shares during the period. TLP Group LLC acquired a new position in Waste Management during the third quarter valued at about $125,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in Waste Management during the first quarter valued at about $127,000. 75.53% of the stock is currently owned by hedge funds and other institutional investors.
About Waste Management
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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