Waste Management (NYSE:WM) Price Target Raised to $228.00

Waste Management (NYSE:WM) had its target price upped by CIBC from $213.00 to $228.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Several other research analysts have also recently commented on the company. Morgan Stanley increased their price target on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday. Robert W. Baird reduced their price target on Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. BMO Capital Markets increased their price target on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research report on Wednesday. Royal Bank of Canada increased their price target on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $226.05.

Waste Management Stock Down 0.9 %

NYSE:WM opened at $213.99 on Wednesday. Waste Management has a 1 year low of $162.34 and a 1 year high of $225.00. The company has a current ratio of 0.89, a quick ratio of 1.03 and a debt-to-equity ratio of 2.00. The stock has a market cap of $85.89 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 2.30 and a beta of 0.74. The stock has a 50-day moving average price of $209.34 and a two-hundred day moving average price of $208.83.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. Waste Management’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 earnings per share. As a group, equities analysts expect that Waste Management will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio is currently 45.87%.

Institutional Investors Weigh In On Waste Management

A number of large investors have recently added to or reduced their stakes in WM. Hexagon Capital Partners LLC grew its position in Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after buying an additional 75 shares in the last quarter. Norden Group LLC acquired a new stake in Waste Management during the first quarter worth approximately $7,146,000. Kovack Advisors Inc. grew its position in Waste Management by 2.8% during the first quarter. Kovack Advisors Inc. now owns 5,606 shares of the business services provider’s stock worth $1,195,000 after buying an additional 152 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in Waste Management by 5.4% during the first quarter. First Trust Direct Indexing L.P. now owns 12,360 shares of the business services provider’s stock worth $2,635,000 after buying an additional 634 shares in the last quarter. Finally, Everett Harris & Co. CA grew its position in Waste Management by 10.5% during the first quarter. Everett Harris & Co. CA now owns 1,477 shares of the business services provider’s stock worth $315,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

About Waste Management

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.