Waste Management (NYSE:WM) PT Lowered to $213.00 at BMO Capital Markets

Waste Management (NYSE:WM) had its price objective lowered by BMO Capital Markets from $215.00 to $213.00 in a report released on Friday, Benzinga reports. The firm currently has a market perform rating on the business services provider’s stock.

Several other equities analysts also recently weighed in on the company. TD Cowen raised their price target on Waste Management from $220.00 to $235.00 and gave the company a buy rating in a report on Monday, April 29th. StockNews.com downgraded Waste Management from a strong-buy rating to a buy rating in a report on Thursday. Raymond James raised their price target on Waste Management from $219.00 to $229.00 and gave the company an outperform rating in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Waste Management in a report on Wednesday, May 22nd. They set a buy rating and a $241.00 price target for the company. Finally, Erste Group Bank restated a hold rating on shares of Waste Management in a report on Friday, June 14th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $215.83.

Waste Management Price Performance

WM opened at $196.96 on Friday. The stock has a fifty day simple moving average of $209.51 and a two-hundred day simple moving average of $205.04. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 2.21. The company has a market cap of $79.00 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 2.29 and a beta of 0.74. Waste Management has a 12-month low of $149.71 and a 12-month high of $225.00.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the company earned $1.51 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. Research analysts predict that Waste Management will post 7.31 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Friday, June 7th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Insider Buying and Selling

In other news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the sale, the vice president now directly owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Institutional Trading of Waste Management

Several institutional investors and hedge funds have recently modified their holdings of WM. Norges Bank bought a new stake in shares of Waste Management during the 4th quarter valued at $784,486,000. Sustainable Growth Advisers LP bought a new stake in shares of Waste Management during the 1st quarter valued at $300,594,000. Capital World Investors raised 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 valued at $900,957,000 after purchasing an additional 1,303,466 shares during the period. Mirova US LLC raised its position in shares of Waste Management by 26,116.4% during the 4th quarter. Mirova US LLC now owns 913,904 shares of the business services provider’s stock valued at $163,680,000 after purchasing an additional 910,418 shares during the period. Finally, Swedbank AB bought a new stake in Waste Management in the 1st quarter valued at $193,955,000. 80.40% of the stock is currently owned by 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.