Waste Management (NYSE:WM) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Waste Management (NYSE:WM) in a report released on Thursday morning, The Fly reports. The brokerage issued a hold rating on the business services provider’s stock.

A number of other equities analysts also recently commented on WM. ValuEngine downgraded Waste Management from a buy rating to a hold rating in a report on Wednesday, October 2nd. Royal Bank of Canada set a $126.00 price objective on Waste Management and gave the stock a buy rating in a report on Friday, July 26th. Bank of America downgraded Waste Management from a buy rating to a neutral rating in a report on Friday, October 18th. Macquarie restated an outperform rating and issued a $130.00 price objective on shares of Waste Management in a report on Wednesday, September 4th. Finally, Stifel Nicolaus set a $125.00 price objective on Waste Management and gave the stock a buy rating in a report on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $116.82.

NYSE:WM traded down $0.44 during mid-day trading on Thursday, reaching $110.77. The company’s stock had a trading volume of 2,007,911 shares, compared to its average volume of 1,769,130. The company’s fifty day simple moving average is $113.45 and its two-hundred day simple moving average is $114.31. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.86 and a quick ratio of 1.82. Waste Management has a twelve month low of $83.49 and a twelve month high of $121.77. The stock has a market cap of $46.99 billion, a P/E ratio of 26.37, a P/E/G ratio of 3.14 and a beta of 0.60.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. Waste Management had a return on equity of 28.63% and a net margin of 11.35%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4 billion. During the same period last year, the company earned $1.15 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts expect that Waste Management will post 4.35 EPS for the current fiscal year.

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 issued a dividend of $0.512 per share. The ex-dividend date is Thursday, December 5th. This represents a $2.05 annualized dividend and a yield of 1.85%. Waste Management’s dividend payout ratio is presently 48.81%.

In other Waste Management news, VP Michael J. Watson sold 8,019 shares of Waste Management stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.40, for a total transaction of $957,468.60. Following the sale, the vice president now directly owns 17,254 shares in the company, valued at approximately $2,060,127.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tara J. Hmmer sold 4,739 shares of Waste Management stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $118.04, for a total value of $559,391.56. Following the completion of the transaction, the senior vice president now owns 23,470 shares of the company’s stock, valued at approximately $2,770,398.80. The disclosure for this sale can be found here. Insiders have sold a total of 17,505 shares of company stock worth $2,047,598 over the last 90 days. 0.14% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Cetera Investment Advisers grew its position in shares of Waste Management by 21.4% in the 3rd quarter. Cetera Investment Advisers now owns 5,935 shares of the business services provider’s stock worth $688,000 after acquiring an additional 1,047 shares in the last quarter. Signet Investment Advisory Group Inc. grew its position in shares of Waste Management by 1.5% in the 3rd quarter. Signet Investment Advisory Group Inc. now owns 17,984 shares of the business services provider’s stock worth $2,068,000 after acquiring an additional 274 shares in the last quarter. Cetera Advisor Networks LLC grew its position in shares of Waste Management by 16.2% in the 3rd quarter. Cetera Advisor Networks LLC now owns 17,099 shares of the business services provider’s stock worth $1,974,000 after acquiring an additional 2,382 shares in the last quarter. Trillium Asset Management LLC grew its position in shares of Waste Management by 0.5% in the 3rd quarter. Trillium Asset Management LLC now owns 93,407 shares of the business services provider’s stock worth $10,742,000 after acquiring an additional 441 shares in the last quarter. Finally, MACRO Consulting Group grew its position in shares of Waste Management by 1.0% in the 3rd quarter. MACRO Consulting Group now owns 15,292 shares of the business services provider’s stock worth $1,766,000 after acquiring an additional 146 shares in the last quarter. Institutional investors own 73.54% 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.

Featured Article: What is the Fibonacci sequence?

The Fly

Analyst Recommendations for Waste Management (NYSE:WM)

Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.