Waste Management, Inc. (NYSE:WM) Receives Average Rating of “Moderate Buy” from Analysts

by · The Markets Daily

Waste Management, Inc. (NYSE:WM – Get Free Report) has been given an average rating of “Moderate Buy” by the twenty ratings firms that are presently covering the firm, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $215.83.

A number of research firms have commented on WM. Truist Financial reduced their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Erste Group Bank reiterated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada lowered their target price on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Finally, Oppenheimer decreased their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 26th.

Check Out Our Latest Research Report on WM

Insider Transactions at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now directly owns 44,144 shares in the company, valued at approximately $9,711,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Several institutional investors and hedge funds have recently added to or reduced their stakes in WM. Norges Bank bought a new stake in shares of Waste Management during the 4th quarter worth $784,486,000. Sustainable Growth Advisers LP purchased a new stake in shares of Waste Management during the first quarter valued at $300,594,000. Capital World Investors lifted its holdings in Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after acquiring an additional 1,303,466 shares during the period. Swedbank AB bought a new position in shares of Waste Management in the first quarter worth about $193,955,000. Finally, Wulff Hansen & CO. lifted its holdings in Waste Management by 20,402.6% in the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after purchasing an additional 863,846 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Waste Management Stock Performance

Shares of Waste Management stock opened at $204.10 on Monday. The business has a 50-day moving average of $208.53 and a 200 day moving average of $208.68. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The stock has a market capitalization of $81.86 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 2.33 and a beta of 0.74. Waste Management has a 12 month low of $149.71 and a 12 month high of $225.00.

Waste Management (NYSE:WM – Get Free Report) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the company posted $1.51 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Waste Management will post 7.24 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Friday, September 13th. Waste Management’s payout ratio is 49.10%.

About Waste Management

(Get Free Report

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.

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