BMO Capital Markets restated their buy rating on shares of Waste Management, Inc. (NYSE:WM) in a research note published on Friday, September 8th. BMO Capital Markets currently has a $82.00 price objective on the business services provider’s stock.
A number of other analysts have also recently commented on WM. KeyCorp upped their price target on shares of Waste Management from $50.00 to $65.00 and gave the company an overweight rating in a research report on Thursday, May 11th. Zacks Investment Research raised shares of Waste Management from a hold rating to a buy rating and set a $81.00 price target on the stock in a research report on Tuesday, May 16th. Finally, Credit Suisse Group upped their price target on shares of Waste Management from $80.00 to $85.00 and gave the company an outperform rating in a research report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $76.19.
Shares of Waste Management (NYSE WM) traded up 0.21% during mid-day trading on Friday, reaching $78.00. The company had a trading volume of 2,335,827 shares. Waste Management has a one year low of $61.08 and a one year high of $78.39. The firm has a market capitalization of $34.32 billion, a price-to-earnings ratio of 26.71 and a beta of 0.71. The stock has a 50 day moving average of $76.10 and a 200-day moving average of $73.85.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. Waste Management’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Equities analysts predict that Waste Management will post $3.19 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.18%. Waste Management’s dividend payout ratio (DPR) is presently 58.42%.
In related news, Director Patrick W. Gross sold 487 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total value of $36,369.16. Following the sale, the director now owns 23,222 shares in the company, valued at approximately $1,734,218.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John C. Pope sold 453 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $74.38, for a total transaction of $33,694.14. Following the completion of the sale, the director now owns 51,470 shares in the company, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Nova Scotia raised its holdings in shares of Waste Management by 23.4% in the 1st quarter. Bank of Nova Scotia now owns 411,484 shares of the business services provider’s stock worth $30,005,000 after acquiring an additional 78,100 shares during the last quarter. Intersect Capital LLC raised its holdings in shares of Waste Management by 33.1% in the 2nd quarter. Intersect Capital LLC now owns 24,186 shares of the business services provider’s stock worth $1,774,000 after acquiring an additional 6,009 shares during the last quarter. Global X Management Co. LLC raised its holdings in shares of Waste Management by 28.6% in the 1st quarter. Global X Management Co. LLC now owns 5,037 shares of the business services provider’s stock worth $367,000 after acquiring an additional 1,121 shares during the last quarter. World Asset Management Inc raised its holdings in shares of Waste Management by 17.2% in the 1st quarter. World Asset Management Inc now owns 45,871 shares of the business services provider’s stock worth $3,345,000 after acquiring an additional 6,748 shares during the last quarter. Finally, Aviva PLC raised its holdings in shares of Waste Management by 1.0% in the 2nd quarter. Aviva PLC now owns 277,131 shares of the business services provider’s stock worth $20,328,000 after acquiring an additional 2,710 shares during the last quarter. Institutional investors own 74.99% of the company’s stock.
Waste Management Company Profile
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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