Waste Management, Inc. (NYSE:WM) has been given a consensus recommendation of “Buy” by the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $113.25.
A number of equities research analysts recently issued reports on WM shares. Royal Bank of Canada started coverage on shares of Waste Management in a research note on Wednesday, May 1st. They issued a “sector perform” rating and a $113.00 price target on the stock. Oppenheimer lifted their price target on shares of Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, February 15th. Stifel Nicolaus cut shares of Waste Management from a “buy” rating to a “hold” rating and set a $103.00 price target on the stock. in a research note on Thursday, April 11th. Argus lifted their target price on shares of Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, UBS Group cut shares of Waste Management from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $103.00 to $106.00 in a research note on Thursday, April 4th.
Waste Management stock traded up $0.79 during trading on Friday, reaching $114.36. The company had a trading volume of 1,407,756 shares, compared to its average volume of 1,770,676. Waste Management has a 1-year low of $79.96 and a 1-year high of $115.42. The stock has a market capitalization of $48.24 billion, a P/E ratio of 27.23, a P/E/G ratio of 3.08 and a beta of 0.62. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.66 and a current ratio of 0.69.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.5125 per share. The ex-dividend date is Thursday, June 6th. This represents a $2.05 annualized dividend and a yield of 1.79%. Waste Management’s dividend payout ratio (DPR) is presently 48.81%.
In other news, VP Michael J. Watson sold 700 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $104.55, for a total transaction of $73,185.00. Following the transaction, the vice president now owns 9,518 shares of the company’s stock, valued at approximately $995,106.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John J. Morris sold 42,795 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $106.38, for a total transaction of $4,552,532.10. Following the transaction, the executive vice president now directly owns 101,332 shares in the company, valued at approximately $10,779,698.16. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Waste Management during the 4th quarter valued at about $402,210,000. YorkBridge Wealth Partners LLC raised its holdings in Waste Management by 3.3% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 7,228 shares of the business services provider’s stock valued at $643,000 after buying an additional 230 shares during the period. Coldstream Capital Management Inc. purchased a new stake in Waste Management in the 4th quarter valued at about $236,000. Calton & Associates Inc. purchased a new stake in Waste Management in the 1st quarter valued at about $286,000. Finally, Summit Financial Wealth Advisors LLC raised its holdings in Waste Management by 0.9% in the 4th quarter. Summit Financial Wealth Advisors LLC now owns 34,865 shares of the business services provider’s stock valued at $3,103,000 after buying an additional 295 shares during the period. 73.62% of the stock is currently owned by hedge funds and other institutional investors.
About Waste Management
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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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