Waste Management (NYSE:WM) Price Target Raised to $260.00

Waste Management (NYSE:WM - Free Report) had its price objective lifted by Scotiabank from $255.00 to $260.00 in a report released on Tuesday morning,Benzinga reports. They currently have a sector outperform rating on the business services provider's stock.

Other research analysts have also issued research reports about the company. Stifel Nicolaus lifted their price target on Waste Management from $243.00 to $252.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Oppenheimer upped their price target on shares of Waste Management from $231.00 to $237.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Jefferies Financial Group lowered their target price on Waste Management from $255.00 to $238.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. CIBC boosted their price target on Waste Management from $227.00 to $247.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 5th. Finally, StockNews.com lowered shares of Waste Management from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $237.76.

Waste Management Price Performance

WM stock traded up $2.85 during mid-day trading on Tuesday, reaching $229.30. 1,920,866 shares of the company traded hands, compared to its average volume of 1,639,419. Waste Management has a 52-week low of $196.59 and a 52-week high of $239.32. The company has a fifty day moving average price of $227.33 and a 200-day moving average price of $218.19. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. The company has a market capitalization of $92.25 billion, a P/E ratio of 33.72, a P/E/G ratio of 2.71 and a beta of 0.66.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. As a group, analysts anticipate that Waste Management will post 7.7 earnings per share for the current year.

Waste Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.825 dividend. This is a boost from Waste Management's previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Friday, March 14th. Waste Management's payout ratio is currently 48.53%.

Insiders Place Their Bets

In other Waste Management news, SVP Johnson Varkey sold 560 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.11, for a total transaction of $123,261.60. Following the transaction, the senior vice president now owns 9,152 shares of the company's stock, valued at $2,014,446.72. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO John A. Carroll sold 209 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.55, for a total value of $46,094.95. Following the sale, the chief accounting officer now owns 9,066 shares of the company's stock, valued at $1,999,506.30. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,577 shares of company stock worth $21,662,464. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Waste Management

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its stake in shares of Waste Management by 1.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider's stock worth $781,000 after buying an additional 44 shares during the last quarter. Ascent Group LLC increased its position in shares of Waste Management by 0.6% in the 4th quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock worth $1,520,000 after purchasing an additional 44 shares during the last quarter. Insight Wealth Strategies LLC raised its stake in shares of Waste Management by 0.4% in the 1st quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock valued at $2,698,000 after purchasing an additional 44 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in Waste Management by 0.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 6,768 shares of the business services provider's stock worth $1,366,000 after purchasing an additional 45 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Waste Management by 8.2% in the fourth quarter. Covestor Ltd now owns 609 shares of the business services provider's stock valued at $123,000 after buying an additional 46 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

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.