Waste Management Inc. (WM) to Issue Quarterly Dividend of $0.41 on December 16th
Waste Management Inc. (NYSE:WM) declared a quarterly dividend on Thursday, November 10th. Investors of record on Friday, December 2nd will be paid a dividend of 0.41 per share on Friday, December 16th. This represents a $1.64 annualized dividend and a yield of 2.36%. The ex-dividend date is Wednesday, November 30th.
Waste Management (NYSE:WM) opened at 69.54 on Friday. Waste Management has a 52 week low of $50.36 and a 52 week high of $70.50. The company has a market capitalization of $30.74 billion, a price-to-earnings ratio of 27.91 and a beta of 0.72. The company’s 50-day moving average price is $64.71 and its 200 day moving average price is $64.29.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, October 26th. The company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.04. The firm earned $3.55 billion during the quarter, compared to analyst estimates of $3.50 billion. Waste Management had a net margin of 8.36% and a return on equity of 24.07%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 EPS. On average, analysts predict that Waste Management will post $2.92 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Johnson Financial Group Inc. boosted its position in shares of Waste Management by 79.6% in the second quarter. Johnson Financial Group Inc. now owns 2,207 shares of the company’s stock valued at $146,000 after buying an additional 978 shares in the last quarter. Invictus RG acquired a new position in shares of Waste Management during the second quarter valued at approximately $160,000. Choate Investment Advisors acquired a new position in shares of Waste Management during the second quarter valued at approximately $203,000. Nations Financial Group Inc. IA ADV acquired a new position in shares of Waste Management during the second quarter valued at approximately $218,000. Finally, Seven Eight Capital LLC boosted its position in shares of Waste Management by 41.4% in the second quarter. Seven Eight Capital LLC now owns 4,100 shares of the company’s stock valued at $272,000 after buying an additional 1,200 shares in the last quarter. 75.99% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on WM shares. Wedbush restated an “outperform” rating and set a $73.00 price objective on shares of Waste Management in a research note on Thursday, July 28th. Imperial Capital increased their price objective on shares of Waste Management from $62.00 to $71.00 and gave the stock an “in-line” rating in a research note on Friday, July 29th. Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Barclays PLC downgraded shares of Waste Management from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $66.00 to $70.00 in a research note on Tuesday, August 9th. Finally, KeyCorp upgraded shares of Waste Management from a “sector weight” rating to an “overweight” rating and set a $74.00 price objective for the company in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $68.23.
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Waste Management Company Profile
Waste Management, Inc is a holding company. The Company provides waste management environmental services. The Company’s segments include Solid Waste, which includes its 17 Areas aggregated into three tiers, and Other. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focuses on geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services.
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