Waste Management (NYSE:WM) Price Target Increased to $214.00 by Analysts at Morgan Stanley

Waste Management (NYSE:WM) had its price target increased by Morgan Stanley from $202.00 to $214.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

Several other equities analysts have also recently issued reports on the company. StockNews.com raised Waste Management from a buy rating to a strong-buy rating in a report on Tuesday, April 9th. Stifel Nicolaus lifted their price objective on Waste Management from $215.00 to $227.00 and gave the company a buy rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Waste Management from $165.00 to $197.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Truist Financial raised their price target on shares of Waste Management from $215.00 to $220.00 and gave the company a buy rating in a report on Wednesday, February 14th. Finally, Royal Bank of Canada increased their target price on Waste Management from $211.00 to $215.00 and gave the company a sector perform rating in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $214.21.

Waste Management Stock Performance

Shares of Waste Management stock opened at $210.07 on Friday. The business has a 50-day moving average of $208.54 and a 200 day moving average of $186.87. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.86. Waste Management has a 12 month low of $149.71 and a 12 month high of $214.54. The stock has a market capitalization of $84.30 billion, a price-to-earnings ratio of 34.38, a price-to-earnings-growth ratio of 3.23 and a beta of 0.72.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. The firm had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. Waste Management’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 earnings per share. As a group, sell-side analysts forecast that Waste Management will post 6.88 earnings per share for the current year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.75 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Waste Management’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. Waste Management’s dividend payout ratio is 49.10%.

Insider Buying and Selling

In other news, EVP Charles C. Boettcher sold 3,275 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $199.49, for a total transaction of $653,329.75. Following the completion of the transaction, the executive vice president now owns 36,403 shares of the company’s stock, valued at $7,262,034.47. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Waste Management news, EVP Charles C. Boettcher sold 3,275 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $199.49, for a total value of $653,329.75. Following the sale, the executive vice president now owns 36,403 shares in the company, valued at $7,262,034.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles C. Boettcher sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the transaction, the executive vice president now owns 29,677 shares of the company’s stock, valued at $6,217,331.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,007 shares of company stock valued at $3,696,520. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

Institutional investors have recently bought and sold shares of the stock. Avior Wealth Management LLC grew its position in Waste Management by 57.5% in the third quarter. Avior Wealth Management LLC now owns 1,380 shares of the business services provider’s stock worth $210,000 after buying an additional 504 shares during the last quarter. Oak Thistle LLC boosted its stake in Waste Management by 170.7% in the 3rd quarter. Oak Thistle LLC now owns 4,535 shares of the business services provider’s stock worth $691,000 after purchasing an additional 2,860 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of Waste Management by 0.4% in the third quarter. Asset Management One Co. Ltd. now owns 228,246 shares of the business services provider’s stock worth $34,794,000 after buying an additional 995 shares during the period. Spirit of America Management Corp NY raised its position in Waste Management by 66.7% during the third quarter. Spirit of America Management Corp NY now owns 250 shares of the business services provider’s stock valued at $38,000 after buying an additional 100 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Waste Management by 10.1% during the third quarter. Handelsbanken Fonder AB now owns 204,720 shares of the business services provider’s stock worth $31,208,000 after purchasing an additional 18,828 shares during the period. 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.