Barclays Cuts Waste Management (NYSE:WM) Price Target to $265.00

Waste Management (NYSE:WMFree Report) had its price objective reduced by Barclays from $266.00 to $265.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other analysts have also recently issued reports on the stock. National Bankshares lowered their price objective on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. Citigroup reduced their target price on Waste Management from $270.00 to $263.00 and set a “buy” rating on the stock in a report on Friday, January 16th. DZ Bank started coverage on Waste Management in a report on Tuesday, November 25th. They issued a “buy” rating and a $250.00 price objective on the stock. Robert W. Baird raised Waste Management from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $238.00 to $242.00 in a research note on Tuesday, November 4th. Finally, Morgan Stanley dropped their target price on shares of Waste Management from $232.00 to $230.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $250.81.

Check Out Our Latest Report on Waste Management

Waste Management Stock Performance

NYSE WM opened at $229.05 on Tuesday. 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 company has a market capitalization of $92.28 billion, a PE ratio of 36.07, a price-to-earnings-growth ratio of 2.54 and a beta of 0.59. The business’s 50-day moving average price is $217.45 and its 200 day moving average price is $219.20. Waste Management has a twelve month low of $194.11 and a twelve month high of $242.58.

Waste Management (NYSE:WMGet Free Report) last posted its quarterly earnings data 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). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The company had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same period in the prior year, the company earned $1.96 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. On average, research analysts predict that Waste Management will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, December 5th. Waste Management’s payout ratio is presently 51.97%.

Insiders Place Their Bets

In related news, SVP Rafael Carrasco sold 1,380 shares of Waste Management stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following the sale, the senior vice president owned 15,540 shares of the company’s stock, valued at $3,373,112.40. The trade was a 8.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Waste Management by 2.1% in the third quarter. Vanguard Group Inc. now owns 38,436,462 shares of the business services provider’s stock worth $8,487,924,000 after acquiring an additional 774,255 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Waste Management by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider’s stock worth $1,972,856,000 after purchasing an additional 126,329 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Waste Management by 5.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,668,221 shares of the business services provider’s stock worth $1,250,613,000 after buying an additional 277,250 shares during the last quarter. Norges Bank acquired a new stake in Waste Management in the second quarter worth $1,064,206,000. Finally, Northern Trust Corp lifted its stake in Waste Management by 0.3% in the third quarter. Northern Trust Corp now owns 3,954,519 shares of the business services provider’s stock valued at $873,276,000 after buying an additional 11,688 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management News Summary

Here are the key news stories impacting Waste Management this week:

About Waste Management

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Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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