Waste Management Inc. (WM) Hits New 52-Week High at $70.50
Waste Management Inc. (NYSE:WM) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $70.50 and last traded at $67.42, with a volume of 1,916,696 shares changing hands. The stock had previously closed at $66.47.
WM has been the topic of a number of research analyst reports. Wedbush reiterated a “buy” rating on shares of Waste Management in a research note on Saturday, April 30th. Vetr upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $62.02 target price on the stock in a research note on Monday, April 4th. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Thursday, May 5th. Imperial Capital raised their target price on shares of Waste Management from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Friday, April 29th. Finally, Sterne Agee CRT initiated coverage on shares of Waste Management in a research note on Tuesday, March 22nd. They issued a “neutral” rating and a $60.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Waste Management currently has a consensus rating of “Buy” and a consensus target price of $62.07.
The firm has a market capitalization of $29.86 billion and a P/E ratio of 26.71. The company has a 50-day moving average price of $62.72 and a 200-day moving average price of $57.82.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The business earned $3.20 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts anticipate that Waste Management Inc. will post $2.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Friday, June 3rd were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Wednesday, June 1st.
In related news, VP Don P. Carpenter sold 1,200 shares of the business’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $60.61, for a total transaction of $72,732.00. Following the transaction, the vice president now directly owns 20,006 shares in the company, valued at $1,212,563.66. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jeff M. Harris sold 15,800 shares of the business’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $61.04, for a total transaction of $964,432.00. The disclosure for this sale can be found here.
Other institutional investors have recently modified their holdings of the company. ProVise Management Group LLC increased its position in shares of Waste Management by 1.0% in the fourth quarter. ProVise Management Group LLC now owns 20,199 shares of the company’s stock worth $1,078,000 after buying an additional 199 shares during the last quarter. MetLife Securities Inc increased its position in shares of Waste Management by 115.5% in the fourth quarter. MetLife Securities Inc now owns 21,707 shares of the company’s stock worth $1,158,000 after buying an additional 11,635 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Waste Management by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,130 shares of the company’s stock worth $1,448,000 after buying an additional 107 shares during the last quarter. Tredje AP fonden increased its position in shares of Waste Management by 2.4% in the fourth quarter. Tredje AP fonden now owns 27,205 shares of the company’s stock worth $1,452,000 after buying an additional 628 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Waste Management during the fourth quarter worth $1,460,000.
Waste Management, Inc is a holding company. The Company provides waste management environmental services. The Company’s segments include Solid Waste, which includes its 17 Areas aggregated into three tiers, and Other. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focuses on geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services.
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