Waste Management (NYSE:WM) Given New $222.00 Price Target at Robert W. Baird

Waste Management (NYSE:WM) had its price objective increased by Robert W. Baird from $214.00 to $222.00 in a research note released on Tuesday, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Several other equities research analysts also recently issued reports on the company. Raymond James upped their price target on Waste Management from $219.00 to $229.00 and gave the stock an outperform rating in a report on Friday, April 26th. UBS Group downgraded shares of Waste Management from a buy rating to a neutral rating and increased their target price for the company from $190.00 to $205.00 in a report on Wednesday, February 14th. Morgan Stanley boosted their price target on shares of Waste Management from $202.00 to $214.00 and gave the stock an equal weight rating in a report on Friday, April 26th. JPMorgan Chase & Co. increased their price objective on shares of Waste Management from $165.00 to $197.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Finally, Citigroup lifted their target price on shares of Waste Management from $215.00 to $226.00 and gave the stock a buy rating in a research report on Thursday, February 15th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $216.24.

Waste Management Stock Down 2.0 %

Waste Management stock opened at $208.01 on Tuesday. 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’s fifty day moving average price is $208.88 and its two-hundred day moving average price is $188.04. The firm has a market capitalization of $83.43 billion, a price-to-earnings ratio of 34.04, a price-to-earnings-growth ratio of 2.81 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 results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.23. The business 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%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.31 EPS. On average, equities research analysts predict that Waste Management will post 7.09 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.75 per share. This is an increase from Waste Management’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. Waste Management’s dividend payout ratio is presently 49.10%.

Insider Buying and Selling

In related news, VP Donald J. Smith sold 329 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 5,522 shares in the company, valued at approximately $1,096,448.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Waste Management news, CFO Devina A. Rankin sold 775 shares of Waste Management stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total transaction of $153,899.50. Following the completion of the transaction, the chief financial officer now owns 75,204 shares of the company’s stock, valued at approximately $14,934,010.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donald J. Smith sold 329 shares of the stock in a transaction dated 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 directly 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 90 days, insiders sold 18,007 shares of company stock valued at $3,696,520. 0.18% of the stock is owned by insiders.

Institutional Trading of Waste Management

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Waste Management during the fourth quarter worth about $784,486,000. abrdn plc increased its holdings in shares of Waste Management by 315.7% in the 3rd quarter. abrdn plc now owns 1,457,393 shares of the business services provider’s stock worth $222,165,000 after buying an additional 1,106,773 shares during the last quarter. Mirova US LLC raised its position in shares of Waste Management by 26,116.4% during the 4th quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock valued at $163,680,000 after buying an additional 910,418 shares in the last quarter. Capital World Investors lifted its holdings in shares of Waste Management by 40.6% during the 4th quarter. Capital World Investors now owns 2,923,403 shares of the business services provider’s stock worth $523,581,000 after acquiring an additional 844,298 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Waste Management by 16.9% in the third quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock valued at $827,815,000 after acquiring an additional 776,491 shares during the last quarter. 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.