Stifel Nicolaus reaffirmed their buy rating on shares of Waste Management (NYSE:WM) in a report issued on Thursday morning. The brokerage currently has a $100.00 price target on the business services provider’s stock.
WM has been the subject of a number of other research reports. BMO Capital Markets restated a buy rating and issued a $82.00 price objective on shares of Waste Management in a research note on Friday, September 8th. Zacks Investment Research cut shares of Waste Management from a hold rating to a sell rating in a research report on Thursday, October 5th. Bank of America decreased their price objective on shares of Waste Management from $85.00 to $83.00 and set a buy rating on the stock in a report on Thursday, October 5th. KeyCorp increased their price objective on shares of Waste Management from $80.00 to $84.00 and gave the stock an overweight rating in a report on Friday, October 13th. Finally, Oppenheimer raised their target price on shares of Waste Management from $82.00 to $87.00 and gave the company an outperform rating in a research note on Friday, October 27th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $86.44.
Waste Management (WM) traded up $0.75 during midday trading on Thursday, hitting $88.10. 2,539,400 shares of the company were exchanged, compared to its average volume of 2,176,533. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.71 and a quick ratio of 0.68. Waste Management has a twelve month low of $69.00 and a twelve month high of $88.40. The company has a market cap of $38,050.00, a P/E ratio of 28.33, a P/E/G ratio of 2.62 and a beta of 0.75.
Waste Management (NYSE:WM) last released its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the business earned $0.84 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. analysts forecast that Waste Management will post 3.2 EPS for the current year.
Waste Management announced that its Board of Directors has approved a stock buyback plan on Thursday, December 14th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, November 30th. Waste Management’s payout ratio is 54.66%.
In related news, SVP Barry H. Caldwell sold 1,650 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $81.10, for a total value of $133,815.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Bruderman Asset Management LLC bought a new stake in shares of Waste Management during the second quarter valued at approximately $110,000. FTB Advisors Inc. increased its position in Waste Management by 4.3% during the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock valued at $116,000 after acquiring an additional 65 shares during the last quarter. Atlantic Trust LLC increased its position in Waste Management by 7.6% during the second quarter. Atlantic Trust LLC now owns 3,820 shares of the business services provider’s stock valued at $172,000 after acquiring an additional 270 shares during the last quarter. MPS Loria Financial Planners LLC purchased a new stake in Waste Management during the second quarter valued at $182,000. Finally, Horan Capital Advisors LLC. purchased a new stake in Waste Management during the third quarter valued at $186,000. 74.83% of the stock is currently owned by institutional investors and hedge funds.
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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