Waste Management (NYSE:WM) Hits New 12-Month High – Here’s Why

Waste Management, Inc. (NYSE:WM)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $226.92 and last traded at $226.89, with a volume of 669288 shares. The stock had previously closed at $224.41.

Analyst Upgrades and Downgrades

WM has been the topic of a number of analyst reports. Scotiabank began coverage on Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target on the stock. William Blair began coverage on shares of Waste Management in a research report on Thursday, October 3rd. They set an “outperform” rating for the company. CIBC boosted their price target on shares of Waste Management from $213.00 to $228.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets upped their price objective on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.11.

Waste Management Price Performance

The business has a 50-day moving average price of $212.84 and a two-hundred day moving average price of $210.10. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $90.57 billion, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. Waste Management’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.63 EPS. As a group, research analysts anticipate that Waste Management, Inc. will post 7.32 EPS for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 1.33%. Waste Management’s dividend payout ratio is currently 45.87%.

Insider Transactions at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

Several institutional investors have recently added to or reduced their stakes in WM. Price T Rowe Associates Inc. MD raised its stake in shares of Waste Management by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 532,819 shares of the business services provider’s stock valued at $113,571,000 after purchasing an additional 18,429 shares during the period. Bayesian Capital Management LP bought a new stake in shares of Waste Management during the first quarter valued at about $894,000. Sweeney & Michel LLC purchased a new stake in shares of Waste Management in the first quarter worth about $210,000. Dynasty Wealth Management LLC bought a new position in shares of Waste Management in the first quarter valued at approximately $1,298,000. Finally, Vancity Investment Management Ltd grew its stake in Waste Management by 3.8% during the first quarter. Vancity Investment Management Ltd now owns 58,319 shares of the business services provider’s stock valued at $12,430,000 after acquiring an additional 2,145 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

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.