Waste Management, Inc. (WM) Price Target Lowered to $83.00 at Bank of America Corporation
Waste Management, Inc. (NYSE:WM) had its target price cut by Bank of America Corporation from $85.00 to $83.00 in a research report report published on Thursday morning. They currently have a buy rating on the business services provider’s stock.
A number of other brokerages have also commented on WM. Zacks Investment Research lowered shares of Waste Management from a hold rating to a sell rating in a research note on Thursday. Oppenheimer Holdings, Inc. lifted their price target on shares of Waste Management from $77.00 to $82.00 and gave the stock an outperform rating in a research note on Wednesday, July 5th. BMO Capital Markets started coverage on shares of Waste Management in a research note on Thursday, June 29th. They issued an outperform rating and a $81.00 price target for the company. Stifel Nicolaus lifted their price target on shares of Waste Management from $80.00 to $85.00 and gave the stock a buy rating in a research note on Tuesday, July 18th. Finally, Credit Suisse Group lifted their price target on shares of Waste Management from $80.00 to $85.00 and gave the stock an outperform rating in a research note on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $76.74.
Waste Management (WM) opened at 76.28 on Thursday. Waste Management has a 1-year low of $61.08 and a 1-year high of $79.28. The firm has a 50-day moving average of $77.28 and a 200-day moving average of $74.38. The stock has a market capitalization of $33.57 billion, a PE ratio of 26.12 and a beta of 0.74.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Equities analysts expect that Waste Management will post $3.19 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Thursday, September 7th. Waste Management’s payout ratio is 58.42%.
In related news, Director John C. Pope sold 453 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the transaction, the director now owns 51,470 shares of the company’s stock, valued at $3,828,338.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Patrick W. Gross sold 487 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total transaction of $36,369.16. Following the completion of the transaction, the director now directly owns 23,222 shares in the company, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of WM. BlackRock Inc. boosted its holdings in shares of Waste Management by 2,611.5% in the first quarter. BlackRock Inc. now owns 30,162,320 shares of the business services provider’s stock worth $2,199,436,000 after buying an additional 29,049,915 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Waste Management by 7,400.8% during the second quarter. Janus Henderson Group PLC now owns 4,317,825 shares of the business services provider’s stock valued at $316,712,000 after purchasing an additional 4,260,260 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Waste Management by 95.0% during the first quarter. Renaissance Technologies LLC now owns 3,857,300 shares of the business services provider’s stock valued at $281,274,000 after purchasing an additional 1,879,300 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Waste Management by 5.8% during the first quarter. Vanguard Group Inc. now owns 32,753,532 shares of the business services provider’s stock valued at $2,388,388,000 after purchasing an additional 1,790,546 shares in the last quarter. Finally, Harbour Capital Advisors LLC lifted its holdings in Waste Management by 8,786.6% during the second quarter. Harbour Capital Advisors LLC now owns 903,232 shares of the business services provider’s stock valued at $12,314,000 after purchasing an additional 893,068 shares in the last quarter. 74.93% of the stock is currently owned by institutional investors.
About Waste Management
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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