Wedbush lowered shares of Waste Management Inc. (NYSE:WM) from an outperform rating to a neutral rating in a report issued on Thursday morning. The brokerage currently has $68.00 target price on the stock, down from their previous target price of $73.00. The analysts noted that the move was a valuation call.
Other research analysts have also issued research reports about the company. Argus reaffirmed a buy rating and set a $72.00 price objective on shares of Waste Management in a research report on Wednesday, August 10th. Zacks Investment Research raised Waste Management from a hold rating to a buy rating and set a $74.00 price objective for the company in a research report on Friday, August 5th. Stifel Nicolaus reaffirmed a buy rating and set a $75.00 price objective (up previously from $70.00) on shares of Waste Management in a research report on Monday, July 18th. Barclays PLC lowered Waste Management from an overweight rating to an equal weight rating and raised their price objective for the company from $66.00 to $70.00 in a research report on Tuesday, August 9th. Finally, KeyCorp reaffirmed a hold rating on shares of Waste Management in a research report on Thursday, July 14th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Waste Management presently has a consensus rating of Hold and a consensus price target of $66.77.
Shares of Waste Management (NYSE:WM) traded up 0.73% on Thursday, hitting $62.15. The stock had a trading volume of 349,965 shares. Waste Management has a 12 month low of $50.36 and a 12 month high of $70.50. The stock has a 50 day moving average of $63.41 and a 200-day moving average of $62.78. The stock has a market cap of $27.49 billion, a PE ratio of 24.29 and a beta of 0.62.
Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 27th. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. The company earned $3.43 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Waste Management had a return on equity of 23.48% and a net margin of 8.73%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. Equities research analysts anticipate that Waste Management will post $2.86 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.64 annualized dividend and a yield of 2.66%. Waste Management’s dividend payout ratio (DPR) is presently 63.81%.
In other news, CFO James C. Fish, Jr. sold 7,400 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $66.59, for a total value of $492,766.00. Following the transaction, the chief financial officer now directly owns 99,615 shares in the company, valued at $6,633,362.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas H. Weidemeyer sold 449 shares of the business’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $67.58, for a total value of $30,343.42. Following the completion of the transaction, the director now owns 24,383 shares in the company, valued at $1,647,803.14. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
Several institutional investors have recently made changes to their positions in WM. National Pension Service increased its position in shares of Waste Management by 8.3% in the third quarter. National Pension Service now owns 327,627 shares of the company’s stock valued at $20,889,000 after buying an additional 25,238 shares during the last quarter. Private Bank & Trust Co. increased its position in shares of Waste Management by 76.9% in the third quarter. Private Bank & Trust Co. now owns 11,624 shares of the company’s stock valued at $741,000 after buying an additional 5,052 shares during the last quarter. Forte Capital LLC ADV increased its position in shares of Waste Management by 4.5% in the third quarter. Forte Capital LLC ADV now owns 20,795 shares of the company’s stock valued at $1,326,000 after buying an additional 890 shares during the last quarter. MSI Financial Services Inc increased its position in shares of Waste Management by 38.8% in the third quarter. MSI Financial Services Inc now owns 39,125 shares of the company’s stock valued at $2,494,000 after buying an additional 10,944 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in shares of Waste Management by 1.1% in the third quarter. Gulf International Bank UK Ltd now owns 132,771 shares of the company’s stock valued at $8,465,000 after buying an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.
Waste Management Company Profile
Waste Management, Inc is a holding company. The Company provides waste management environmental services. The Company’s segments include Solid Waste, which includes its 17 Areas aggregated into three tiers, and Other. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focuses on geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services.
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