Waste Management (WM) Shares Gap Up to $104.26

Shares of Waste Management, Inc. (NYSE:WM) gapped up prior to trading on Tuesday . The stock had previously closed at $103.23, but opened at $104.26. Waste Management shares last traded at $104.23, with a volume of 662928 shares changing hands.

Several equities analysts recently issued reports on the company. Stifel Nicolaus upgraded Waste Management from a “hold” rating to a “buy” rating in a report on Monday. UBS Group cut Waste Management from a “buy” rating to a “neutral” rating and raised their target price for the stock from $103.00 to $106.00 in a report on Thursday, April 4th. KeyCorp started coverage on Waste Management in a report on Monday, February 4th. They set an “overweight” rating and a $96.00 target price on the stock. Oppenheimer raised their target price on Waste Management from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, February 15th. Finally, Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a report on Saturday, January 19th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Waste Management has a consensus rating of “Buy” and a consensus target price of $101.71.

The firm has a market capitalization of $44.28 billion, a PE ratio of 24.86, a PEG ratio of 2.67 and a beta of 0.67. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 1.53.

Waste Management (NYSE:WM) last released its quarterly earnings results on Thursday, February 14th. The business services provider reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.07. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.78 billion. Waste Management had a return on equity of 29.43% and a net margin of 12.91%. Waste Management’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. As a group, equities analysts forecast that Waste Management, Inc. will post 4.36 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.5125 per share. The ex-dividend date was Thursday, March 7th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from Waste Management’s previous quarterly dividend of $0.47. Waste Management’s dividend payout ratio (DPR) is currently 48.81%.

In related news, SVP Tara J. Hmmer sold 472 shares of Waste Management stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $98.81, for a total value of $46,638.32. Following the sale, the senior vice president now owns 17,208 shares of the company’s stock, valued at approximately $1,700,322.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Devina A. Rankin sold 692 shares of Waste Management stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $98.80, for a total value of $68,369.60. Following the completion of the sale, the chief financial officer now directly owns 22,128 shares in the company, valued at approximately $2,186,246.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,092 shares of company stock worth $402,648. 0.14% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in WM. Norges Bank bought a new position in shares of Waste Management during the 4th quarter worth approximately $402,210,000. YorkBridge Wealth Partners LLC lifted its position in shares of Waste Management by 3.3% during the 4th quarter. YorkBridge Wealth Partners LLC now owns 7,228 shares of the business services provider’s stock valued at $643,000 after acquiring an additional 230 shares during the period. Summit Financial Wealth Advisors LLC lifted its position in shares of Waste Management by 0.9% during the 4th quarter. Summit Financial Wealth Advisors LLC now owns 34,865 shares of the business services provider’s stock valued at $3,103,000 after acquiring an additional 295 shares during the period. Fiera Capital Corp lifted its position in shares of Waste Management by 241.4% during the 4th quarter. Fiera Capital Corp now owns 9,936 shares of the business services provider’s stock valued at $884,000 after acquiring an additional 7,026 shares during the period. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Waste Management during the 4th quarter valued at $236,000. 75.74% of the stock is currently owned by institutional investors and hedge funds.

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Waste Management Company Profile (NYSE:WM)

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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