Waste Management (NYSE:WM) Price Target Raised to $240.00

Waste Management (NYSE:WM) had its target price lifted by Truist Financial from $220.00 to $240.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other analysts also recently issued reports on WM. StockNews.com upgraded Waste Management from a buy rating to a strong-buy rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price objective on Waste Management from $165.00 to $197.00 and gave the stock a neutral rating in a report on Thursday, February 15th. UBS Group downgraded Waste Management from a buy rating to a neutral rating and boosted their price objective for the stock from $190.00 to $205.00 in a report on Wednesday, February 14th. Morgan Stanley boosted their price objective on Waste Management from $202.00 to $214.00 and gave the stock an equal weight rating in a report on Friday. Finally, Stifel Nicolaus upped their target price on Waste Management from $215.00 to $227.00 and gave the company a buy rating in a report on Friday. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $214.21.

Waste Management Price Performance

Shares of Waste Management stock opened at $210.10 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 2.23. The company’s 50-day moving average price is $208.54 and its two-hundred day moving average price is $187.29. Waste Management has a 52 week low of $149.71 and a 52 week high of $214.54. The stock has a market cap of $84.31 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 3.19 and a beta of 0.72.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.52 by $0.23. The firm had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. Waste Management’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.31 earnings per share. As a group, sell-side analysts anticipate that Waste Management will post 7.09 EPS for the current fiscal year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.75 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. This is a boost from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s dividend payout ratio is presently 49.10%.

Insiders Place Their Bets

In other news, CFO Devina A. Rankin sold 775 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total value of $153,899.50. Following the completion of the sale, the chief financial officer now directly owns 75,204 shares of the company’s stock, valued at $14,934,010.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Charles C. Boettcher sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the transaction, the executive vice president now owns 29,677 shares in the company, valued at $6,217,331.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Devina A. Rankin sold 775 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $198.58, for a total value of $153,899.50. Following the completion of the transaction, the chief financial officer now owns 75,204 shares in the company, valued at approximately $14,934,010.32. The disclosure for this sale can be found here. Insiders sold 18,007 shares of company stock valued at $3,696,520 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Waste Management

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC boosted its holdings in Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after buying an additional 75 shares during the last quarter. Sachetta LLC bought a new position in shares of Waste Management during the 4th quarter valued at about $27,000. Gilfoyle & Co LLC bought a new position in shares of Waste Management during the 4th quarter valued at about $30,000. Millburn Ridgefield Corp bought a new position in shares of Waste Management during the 3rd quarter valued at about $35,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Waste Management during the 1st quarter valued at about $35,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Company Profile

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.