Waste Management, Inc. (NYSE:WM – Get Rating) has earned an average rating of “Hold” from the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $171.36.
A number of research firms have recently weighed in on WM. Raymond James lowered their price target on shares of Waste Management from $173.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, October 25th. Jefferies Financial Group upgraded shares of Waste Management from a “hold” rating to a “buy” rating and lifted their target price for the stock from $170.00 to $191.00 in a research note on Tuesday, October 25th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 15th. UBS Group cut shares of Waste Management from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $190.00 to $165.00 in a research note on Tuesday, January 10th. Finally, Morgan Stanley lowered their target price on shares of Waste Management from $180.00 to $177.00 and set an “equal weight” rating for the company in a research note on Thursday, October 27th.
Waste Management Stock Down 0.3 %
NYSE:WM opened at $152.27 on Wednesday. Waste Management has a fifty-two week low of $134.20 and a fifty-two week high of $175.98. The stock has a market capitalization of $62.50 billion, a P/E ratio of 28.30, a P/E/G ratio of 1.96 and a beta of 0.73. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.81 and a current ratio of 0.85. The company’s 50-day simple moving average is $160.00 and its 200-day simple moving average is $162.35.
Waste Management announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 8th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the business services provider to purchase up to 2.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Waste Management Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 2nd were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.71%. The ex-dividend date was Thursday, December 1st. Waste Management’s payout ratio is 48.33%.
Insider Buying and Selling at Waste Management
In other news, Director John C. Pope sold 218 shares of Waste Management stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $154.76, for a total transaction of $33,737.68. Following the completion of the transaction, the director now directly owns 55,809 shares of the company’s stock, valued at approximately $8,637,000.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.
Hedge Funds Weigh In On Waste Management
Institutional investors have recently made changes to their positions in the company. Gamble Jones Investment Counsel grew its holdings in shares of Waste Management by 4.6% during the second quarter. Gamble Jones Investment Counsel now owns 1,360 shares of the business services provider’s stock worth $208,000 after buying an additional 60 shares in the last quarter. SeaCrest Wealth Management LLC boosted its position in shares of Waste Management by 0.4% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 15,601 shares of the business services provider’s stock valued at $2,387,000 after acquiring an additional 60 shares during the last quarter. Capital Planning Advisors LLC boosted its position in shares of Waste Management by 4.7% during the 2nd quarter. Capital Planning Advisors LLC now owns 1,345 shares of the business services provider’s stock valued at $206,000 after acquiring an additional 60 shares during the last quarter. Doyle Wealth Management boosted its position in shares of Waste Management by 3.3% during the 2nd quarter. Doyle Wealth Management now owns 1,897 shares of the business services provider’s stock valued at $290,000 after acquiring an additional 60 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware boosted its position in shares of Waste Management by 0.6% during the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 10,266 shares of the business services provider’s stock valued at $1,571,000 after acquiring an additional 61 shares during the last quarter. 78.48% of the stock is owned by hedge funds and other institutional investors.
Waste Management Company Profile
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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