Waste Management, Inc. (NYSE:WM) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts remain broadly positive on Waste Management, with 24 covering firms giving it an average rating of “Moderate Buy” and a consensus 1-year price target of about $255.67.
• The company beat earnings expectations in its latest quarterly report, posting $1.81 EPS versus the $1.75 consensus, while revenue rose 3.5% year over year to $6.23 billion.
• Waste Management also announced a quarterly dividend of $0.945 per share, implying a 1.8% annualized yield; the stock was trading around $211.79, below its recent 52-week high.

Waste Management, Inc. (NYSE:WM - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twenty-four analysts that are presently covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $255.6667.

Several brokerages recently commented on WM. Wolfe Research began coverage on Waste Management in a research report on Friday, March 13th. They issued a "peer perform" rating for the company. Wells Fargo & Company reduced their target price on Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. TD Cowen raised their target price on Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised their target price on Waste Management from $265.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, April 10th. Finally, Robert W. Baird raised their target price on Waste Management from $248.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, April 16th.

Insider Buying and Selling at Waste Management

In other news, COO John J. Morris sold 7,979 shares of the firm's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $245.07, for a total value of $1,955,413.53. Following the completion of the sale, the chief operating officer directly owned 98,656 shares in the company, valued at approximately $24,177,625.92. This trade represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Johnson Varkey sold 121 shares of the firm's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $245.27, for a total value of $29,677.67. Following the completion of the sale, the senior vice president owned 9,293 shares of the company's stock, valued at approximately $2,279,294.11. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,494 shares of company stock valued at $3,054,863 over the last quarter. Corporate insiders own 0.18% of the company's stock.

Institutional Trading of Waste Management

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Elevated Capital Advisors LLC acquired a new stake in Waste Management in the fourth quarter worth about $25,000. Financial Network Wealth Advisors LLC grew its position in shares of Waste Management by 55.3% during the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock worth $29,000 after buying an additional 47 shares during the period. Cornerstone Planning Group LLC lifted its holdings in shares of Waste Management by 101.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider's stock valued at $29,000 after purchasing an additional 67 shares in the last quarter. RHL Group LLC bought a new position in shares of Waste Management during the 4th quarter valued at about $29,000. Finally, Mcguire Capital Advisors Inc. bought a new position in shares of Waste Management during the 4th quarter valued at about $29,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Down 0.3%

WM opened at $211.79 on Wednesday. Waste Management has a 1-year low of $194.11 and a 1-year high of $248.13. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. The stock has a market capitalization of $85.05 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 2.22 and a beta of 0.45. The business has a 50 day moving average of $224.39 and a 200-day moving average of $224.27.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.Waste Management's quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business earned $1.67 earnings per share. As a group, sell-side analysts anticipate that Waste Management will post 8.15 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, June 5th. Waste Management's dividend payout ratio is currently 54.70%.

About Waste Management

Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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