Waste Management Inc. (NYSE:WM) Given Consensus Recommendation of “Buy” by Analysts
Waste Management Inc. (NYSE:WM) has been given a consensus recommendation of “Buy” by the fourteen analysts that are currently covering the firm. Seven analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $67.13.
WM has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Tuesday, September 27th. Macquarie started coverage on shares of Waste Management in a research report on Thursday, August 25th. They issued a “neutral” rating and a $69.00 price target on the stock. Stifel Nicolaus upgraded shares of Waste Management from a “market weight” rating to an “overweight” rating in a research report on Monday, June 27th. KeyCorp upgraded shares of Waste Management from a “sector weight” rating to an “overweight” rating and set a $74.00 price objective on the stock in a research report on Tuesday, August 9th. Finally, Argus reiterated a “buy” rating and set a $72.00 price objective on shares of Waste Management in a research report on Wednesday, August 10th.
In other Waste Management news, VP Mark E. Schwartz sold 70,496 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $65.89, for a total transaction of $4,644,981.44. Following the completion of the sale, the vice president now directly owns 67,117 shares in the company, valued at $4,422,339.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Don P. Carpenter sold 1,634 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $66.13, for a total transaction of $108,056.42. Following the sale, the vice president now owns 19,865 shares of the company’s stock, valued at $1,313,672.45. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in WM. Vanguard Group Inc. boosted its stake in Waste Management by 3.0% in the second quarter. Vanguard Group Inc. now owns 29,578,946 shares of the company’s stock worth $1,960,198,000 after buying an additional 872,058 shares during the period. State Street Corp boosted its stake in Waste Management by 1.4% in the first quarter. State Street Corp now owns 19,685,224 shares of the company’s stock worth $1,161,440,000 after buying an additional 279,670 shares during the period. Capital International Investors boosted its stake in Waste Management by 8.2% in the second quarter. Capital International Investors now owns 13,209,100 shares of the company’s stock worth $875,367,000 after buying an additional 1,003,000 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Waste Management by 0.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 12,289,093 shares of the company’s stock worth $814,398,000 after buying an additional 91,091 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in Waste Management by 11.0% in the second quarter. BlackRock Fund Advisors now owns 10,269,777 shares of the company’s stock worth $680,578,000 after buying an additional 1,021,512 shares during the period. Institutional investors own 75.21% of the company’s stock.
Shares of Waste Management (NYSE:WM) traded up 0.77% during mid-day trading on Thursday, reaching $62.89. The company had a trading volume of 1,479,773 shares. Waste Management has a 52-week low of $50.36 and a 52-week high of $70.50. The company’s 50-day moving average is $63.88 and its 200 day moving average is $62.68. The stock has a market capitalization of $27.82 billion, a P/E ratio of 24.58 and a beta of 0.62.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.40 billion. Waste Management had a net margin of 8.73% and a return on equity of 23.48%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 earnings per share. Analysts anticipate that Waste Management will post $2.86 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Wednesday, September 7th. Waste Management’s payout ratio is presently 63.81%.
About Waste Management
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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