Waste Management (NYSE:WM) Price Target Raised to $220.00

Waste Management (NYSE:WM) had its target price increased by CIBC from $207.00 to $220.00 in a research note released on Monday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

WM has been the topic of several other reports. StockNews.com upgraded Waste Management from a buy rating to a strong-buy rating in a research note on Tuesday, April 9th. UBS Group downgraded shares of Waste Management from a buy rating to a neutral rating and boosted their target price for the company from $190.00 to $205.00 in a research note on Wednesday, February 14th. Oppenheimer lifted their price target on shares of Waste Management from $221.00 to $228.00 and gave the company an outperform rating in a report on Friday, April 26th. Truist Financial raised their price objective on shares of Waste Management from $220.00 to $240.00 and gave the stock a buy rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. increased their price target on Waste Management from $165.00 to $197.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $216.24.

Waste Management Price Performance

Shares of NYSE:WM opened at $206.71 on Monday. The business’s 50 day moving average is $208.93 and its 200-day moving average is $188.17. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23. The firm has a market capitalization of $82.91 billion, a PE ratio of 33.83, a PEG ratio of 2.80 and a beta of 0.72. Waste Management has a 1-year low of $149.71 and a 1-year high of $214.54.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the prior year, the company posted $1.31 EPS. The business’s revenue was up 5.5% on a year-over-year basis. Sell-side analysts predict that Waste Management will post 7.19 earnings per share for the current year.

Waste Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.75 per share. This is a boost from Waste Management’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Thursday, March 14th. Waste Management’s payout ratio is currently 49.10%.

Insider Activity

In other Waste Management news, VP Donald J. Smith sold 329 shares of Waste Management stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $198.56, for a total transaction of $65,326.24. Following the completion of the sale, the vice president now owns 5,522 shares of the company’s stock, valued at approximately $1,096,448.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Charles C. Boettcher sold 3,275 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $199.49, for a total transaction of $653,329.75. Following the completion of the transaction, the executive vice president now owns 36,403 shares in the company, valued at $7,262,034.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Donald J. Smith sold 329 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $198.56, for a total transaction of $65,326.24. Following the completion of the sale, the vice president now owns 5,522 shares in the company, valued at $1,096,448.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,007 shares of company stock valued at $3,696,520. 0.18% of the stock is currently owned by insiders.

Institutional Trading of Waste Management

A number of large investors have recently made changes to their positions in WM. Hexagon Capital Partners LLC lifted its stake in Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares in the last quarter. Sachetta LLC acquired a new position in shares of Waste Management during the 4th quarter worth about $27,000. Gilfoyle & Co LLC bought a new position in Waste Management in the fourth quarter valued at approximately $30,000. Millburn Ridgefield Corp acquired a new position in shares of Waste Management during the 3rd quarter worth approximately $35,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Waste Management in the 1st quarter valued at approximately $35,000. Institutional investors own 80.40% of the company’s stock.

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.