The Goldman Sachs Group assumed coverage on shares of Waste Management (NYSE:WM) in a research note published on Tuesday morning, Benzinga reports. The brokerage issued a buy rating and a $145.00 price target on the business services provider’s stock.
Other equities analysts have also recently issued reports about the company. Morgan Stanley decreased their target price on Waste Management from $122.00 to $121.00 and set an equal weight rating on the stock in a report on Thursday, February 25th. Raymond James lifted their target price on Waste Management from $125.00 to $144.00 and gave the stock an outperform rating in a report on Monday, April 12th. Finally, Robert W. Baird cut Waste Management from an outperform rating to a neutral rating and decreased their target price for the stock from $128.00 to $122.00 in a report on Tuesday, February 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $122.58.
WM opened at $135.05 on Tuesday. Waste Management has a one year low of $94.13 and a one year high of $135.46. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.86 and a current ratio of 0.88. The stock’s fifty day moving average is $124.42 and its 200-day moving average is $117.88. The company has a market capitalization of $57.00 billion, a PE ratio of 35.73, a P/E/G ratio of 4.70 and a beta of 0.72.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 26th. Stockholders of record on Friday, March 12th were issued a dividend of $0.575 per share. This is an increase from Waste Management’s previous quarterly dividend of $0.55. The ex-dividend date was Thursday, March 11th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.70%. Waste Management’s payout ratio is currently 52.27%.
In other Waste Management news, EVP Charles C. Boettcher sold 2,891 shares of the business’s stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $130.00, for a total value of $375,830.00. Following the transaction, the executive vice president now owns 22,373 shares in the company, valued at $2,908,490. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael J. Watson sold 432 shares of the business’s stock in a transaction dated Friday, February 19th. The shares were sold at an average price of $111.29, for a total value of $48,077.28. Following the completion of the transaction, the vice president now owns 18,748 shares in the company, valued at approximately $2,086,464.92. The disclosure for this sale can be found here. Insiders sold 31,683 shares of company stock worth $3,765,485 in the last 90 days. Corporate insiders own 0.16% of the company’s stock.
Several large investors have recently made changes to their positions in WM. Rehmann Capital Advisory Group acquired a new stake in shares of Waste Management in the third quarter worth about $234,000. IHT Wealth Management LLC lifted its position in shares of Waste Management by 7.8% during the 3rd quarter. IHT Wealth Management LLC now owns 5,326 shares of the business services provider’s stock worth $603,000 after purchasing an additional 387 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Waste Management by 2.2% during the 3rd quarter. Kingsview Wealth Management LLC now owns 8,241 shares of the business services provider’s stock worth $933,000 after purchasing an additional 176 shares during the last quarter. Jeppson Wealth Management LLC acquired a new position in shares of Waste Management during the 3rd quarter worth about $504,000. Finally, Paces Ferry Wealth Advisors LLC acquired a new position in shares of Waste Management during the 3rd quarter worth about $54,000. 71.42% of the stock is owned by institutional investors.
About Waste Management
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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