Royal Bank of Canada upgraded shares of Waste Management (NYSE:WM) from a sector perform rating to an outperform rating in a report published on Monday, June 3rd, FirstToMarketsRatingsTable reports. They currently have $125.00 price objective on the business services provider’s stock, up from their previous price objective of $113.00.
WM has been the subject of a number of other reports. Argus increased their price objective on Waste Management from $110.00 to $115.00 and gave the stock a buy rating in a report on Friday, April 26th. Stifel Nicolaus upgraded Waste Management from a hold rating to a buy rating in a report on Monday, April 15th. UBS Group cut Waste Management from a buy rating to a neutral rating and increased their price target for the company from $103.00 to $106.00 in a research report on Thursday, April 4th. Oppenheimer increased their price target on Waste Management from $108.00 to $115.00 and gave the company an outperform rating in a research report on Friday, April 26th. Finally, KeyCorp began coverage on Waste Management in a research report on Monday, February 4th. They set an overweight rating and a $96.00 price target for the company. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $111.11.
Shares of WM traded down $1.83 during trading hours on Monday, hitting $114.59. 1,763,115 shares of the stock traded hands, compared to its average volume of 1,750,039. The company has a quick ratio of 0.66, a current ratio of 0.69 and a debt-to-equity ratio of 1.45. Waste Management has a 1-year low of $79.96 and a 1-year high of $117.34. The stock has a market capitalization of $49.45 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 3.18 and a beta of 0.62. The firm has a fifty day simple moving average of $110.84.
Waste Management (NYSE:WM) last released its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. Waste Management had a return on equity of 29.12% and a net margin of 12.43%. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts expect that Waste Management will post 4.3 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a $0.5125 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.79%. Waste Management’s payout ratio is 48.81%.
In other news, VP Michael J. Watson sold 700 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was 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 in the company, valued at $995,106.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John J. Morris sold 42,795 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $106.38, for a total value of $4,552,532.10. Following the transaction, the executive vice president now owns 101,332 shares in the company, valued at approximately $10,779,698.16. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. We Are One Seven LLC acquired a new stake in shares of Waste Management during the 4th quarter valued at $26,000. Larson Financial Group LLC acquired a new position in Waste Management during the 4th quarter worth about $26,000. Executive Wealth Management LLC acquired a new position in Waste Management during the 4th quarter worth about $26,000. Altshuler Shaham Ltd acquired a new position in Waste Management during the 4th quarter worth about $27,000. Finally, Washington Trust Bank acquired a new position in Waste Management during the 1st quarter worth about $28,000. Hedge funds and other institutional investors own 73.55% of the company’s stock.
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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