Waste Management (NYSE:WM) Price Target Raised to $230.00

Waste Management (NYSE:WM) had its price target boosted by Oppenheimer from $224.00 to $230.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

A number of other brokerages also recently weighed in on WM. Robert W. Baird cut their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Royal Bank of Canada reduced their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. UBS Group raised their price objective on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday. BMO Capital Markets lifted their price objective on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, The Goldman Sachs Group upgraded shares of Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.05.

Waste Management Stock Performance

Shares of NYSE:WM opened at $213.99 on Wednesday. The stock has a market capitalization of $85.89 billion, a P/E ratio of 32.72, a P/E/G ratio of 2.30 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 1.03 and a debt-to-equity ratio of 2.00. Waste Management has a 1-year low of $162.34 and a 1-year high of $225.00. The business has a 50-day moving average price of $209.34 and a two-hundred day moving average price of $208.85.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 EPS. Equities analysts predict that Waste Management will post 7.28 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is 45.87%.

Institutional Trading of Waste Management

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its holdings in shares of Waste Management by 94,414.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after purchasing an additional 2,588,842 shares in the last quarter. Sustainable Growth Advisers LP acquired a new position in shares of Waste Management in the 1st quarter valued at approximately $300,594,000. Capital World Investors boosted its position in shares of Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after acquiring an additional 1,303,466 shares in the last quarter. Swedbank AB acquired a new position in Waste Management during the first quarter valued at approximately $193,955,000. Finally, Wulff Hansen & CO. lifted its stake in Waste Management by 20,402.6% during the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after purchasing an additional 863,846 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Company Profile

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.