Waste Management, Inc. (NYSE:WM) CEO James C. Fish, Jr. sold 2,159 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $84.08, for a total value of $181,528.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Waste Management, Inc. (WM) opened at $84.50 on Friday. The firm has a market capitalization of $36,467.64, a price-to-earnings ratio of 19.16, a P/E/G ratio of 1.90 and a beta of 0.70. Waste Management, Inc. has a 12 month low of $70.08 and a 12 month high of $89.73. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.45.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.02. The company had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 earnings per share. analysts predict that Waste Management, Inc. will post 4.04 EPS for the current year.
Waste Management announced that its board has approved a stock buyback program 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 repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be issued a $0.465 dividend. This represents a $1.86 annualized dividend and a yield of 2.20%. This is an increase from Waste Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, March 8th. Waste Management’s payout ratio is 38.55%.
Institutional investors have recently added to or reduced their stakes in the business. MHI Funds LLC bought a new stake in Waste Management in the fourth quarter worth $184,000. Cerebellum GP LLC bought a new stake in Waste Management in the fourth quarter worth $186,000. Gradient Investments LLC bought a new stake in Waste Management in the fourth quarter worth $197,000. FTB Advisors Inc. boosted its holdings in Waste Management by 44.2% in the fourth quarter. FTB Advisors Inc. now owns 2,285 shares of the business services provider’s stock worth $197,000 after acquiring an additional 700 shares in the last quarter. Finally, WealthPLAN Partners LLC bought a new stake in Waste Management in the fourth quarter worth $201,000. 75.70% of the stock is currently owned by institutional investors and hedge funds.
WM has been the topic of several research analyst reports. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research note on Tuesday, December 26th. Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $95.00 in a research note on Monday, December 11th. Macquarie raised Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. KeyCorp reaffirmed a “buy” rating and issued a $88.00 price target on shares of Waste Management in a research note on Friday, October 27th. Finally, Credit Suisse Group set a $90.00 price target on Waste Management and gave the stock a “buy” rating in a research note on Monday, October 30th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $88.22.
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Waste Management Company Profile
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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