Waste Management, Inc. (NYSE:WM) announced a quarterly dividend on Tuesday, February 23rd, RTT News reports. Investors of record on Friday, March 12th will be given a dividend of 0.575 per share by the business services provider on Friday, March 26th. This represents a $2.30 annualized dividend and a dividend yield of 2.09%. This is a positive change from Waste Management's previous quarterly dividend of $0.55.
Waste Management has raised its dividend by 28.2% over the last three years.
Shares of NYSE:WM traded down $0.40 during trading hours on Tuesday, hitting $110.16. The company's stock had a trading volume of 42,478 shares, compared to its average volume of 1,849,313. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.88 and a quick ratio of 0.86. The firm's fifty day moving average price is $114.21 and its 200 day moving average price is $115.01. Waste Management has a 52 week low of $85.34 and a 52 week high of $125.76. The company has a market capitalization of $46.55 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 4.70 and a beta of 0.72.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, February 18th. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.06. Waste Management had a net margin of 10.66% and a return on equity of 25.84%. On average, equities research analysts predict that Waste Management will post 3.84 earnings per share for the current fiscal year.
In other Waste Management news, CFO Devina A. Rankin sold 32,293 shares of the firm's stock in a transaction that occurred on Tuesday, December 1st. The shares were sold at an average price of $119.75, for a total transaction of $3,867,086.75. Following the completion of the transaction, the chief financial officer now directly owns 51,380 shares of the company's stock, valued at approximately $6,152,755. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Leslie K. Nagy sold 414 shares of Waste Management stock in a transaction that occurred on Monday, December 7th. The shares were sold at an average price of $117.39, for a total transaction of $48,599.46. Following the sale, the chief accounting officer now owns 3,765 shares of the company's stock, valued at $441,973.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,260 shares of company stock valued at $4,317,309. 0.16% of the stock is currently owned by insiders.
WM has been the topic of several analyst reports. CIBC lifted their target price on Waste Management from $117.00 to $120.00 and gave the company a "neutral" rating in a research note on Tuesday, November 3rd. Bank of America lowered shares of Waste Management from a "neutral" rating to an "underperform" rating and set a $116.00 price objective for the company. in a research note on Tuesday, October 27th. Raymond James increased their target price on shares of Waste Management from $120.00 to $131.00 and gave the company an "outperform" rating in a research report on Thursday, January 7th. Royal Bank of Canada reaffirmed a "neutral" rating on shares of Waste Management in a report on Sunday, November 15th. Finally, Robert W. Baird lowered Waste Management from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $128.00 to $122.00 in a report on Tuesday, February 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company's stock. The stock presently has an average rating of "Hold" and an average price target of $117.57.
Waste Management announced that its Board of Directors has authorized a share repurchase program on Monday, December 14th that authorizes the company to buyback $1.35 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 2.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.
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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