Waste Management (NYSE:WM) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Waste Management (NYSE:WM) from a buy rating to a strong-buy rating in a research report report published on Wednesday.

Several other equities research analysts have also recently weighed in on the company. Scotiabank assumed coverage on Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price objective for the company. Royal Bank of Canada increased their price objective on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. CIBC increased their target price on Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets increased their target price on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $226.11.

Waste Management Trading Up 1.2 %

Shares of WM stock opened at $218.45 on Wednesday. The stock has a market capitalization of $87.68 billion, a PE ratio of 33.40, a P/E/G ratio of 2.26 and a beta of 0.74. Waste Management has a 1-year low of $168.73 and a 1-year high of $225.00. The business has a 50-day moving average of $209.76 and a 200 day moving average of $209.06. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the business posted $1.63 EPS. Waste Management’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Waste Management will post 7.31 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a dividend yield of 1.37%. Waste Management’s dividend payout ratio (DPR) is 45.87%.

Insiders Place Their Bets

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Waste Management

Several large investors have recently added to or reduced their stakes in WM. International Assets Investment Management LLC grew its position in Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after acquiring an additional 2,588,842 shares during the last quarter. Sustainable Growth Advisers LP purchased a new position in Waste Management in the 1st quarter worth about $300,594,000. Capital World Investors increased its stake in Waste Management by 44.6% in the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after buying an additional 1,303,466 shares during the period. Swedbank AB purchased a new position in Waste Management in the 1st quarter worth about $193,955,000. Finally, Wulff Hansen & CO. increased its stake in Waste Management by 20,402.6% in the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after buying an additional 863,846 shares during the period. 80.40% of the stock is owned by institutional investors.

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.