Waste Management (NYSE:WM) Price Target Raised to $263.00

Waste Management (NYSE:WM) had its target price boosted by Oppenheimer from $262.00 to $263.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

A number of other research analysts also recently issued reports on WM. Royal Bank Of Canada reduced their price objective on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Waste Management in a research report on Monday, December 8th. Robert W. Baird raised shares of Waste Management from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $238.00 to $242.00 in a research note on Tuesday, November 4th. Scotiabank cut their price objective on Waste Management from $264.00 to $254.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 29th. Finally, Barclays decreased their target price on Waste Management from $271.00 to $266.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $248.95.

Waste Management Stock Performance

Waste Management stock opened at $218.25 on Tuesday. Waste Management has a 1-year low of $194.11 and a 1-year high of $242.58. The firm has a market cap of $87.93 billion, a P/E ratio of 34.37, a P/E/G ratio of 2.71 and a beta of 0.58. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 2.36. The firm has a 50-day moving average of $211.31 and a 200-day moving average of $221.41.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). The business had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.96 EPS. Sell-side analysts expect that Waste Management will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, December 5th. Waste Management’s payout ratio is currently 51.97%.

Insiders Place Their Bets

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of Waste Management stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total transaction of $299,542.80. Following the completion of the transaction, the senior vice president owned 15,540 shares in the company, valued at approximately $3,373,112.40. The trade was a 8.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Waste Management

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC lifted its holdings in shares of Waste Management by 101.5% during the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 67 shares in the last quarter. JPL Wealth Management LLC purchased a new position in Waste Management in the 3rd quarter worth about $30,000. Saudi Central Bank bought a new position in Waste Management during the 1st quarter valued at about $37,000. GKV Capital Management Co. Inc. bought a new stake in shares of Waste Management in the first quarter worth approximately $38,000. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Waste Management during the second quarter valued at approximately $40,000. 80.40% of the stock is owned by institutional investors.

Waste Management Company Profile

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.