Truist Financial Issues Positive Forecast for Waste Management (NYSE:WM) Stock Price

Waste Management (NYSE:WM) had its target price boosted by Truist Financial from $235.00 to $250.00 in a research report released on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the business services provider’s stock.

Several other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday. Scotiabank began coverage on Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 price target on the stock. Oppenheimer upped their target price on Waste Management from $224.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday. Robert W. Baird reduced their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Finally, Royal Bank of Canada cut their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.05.

Waste Management Stock Performance

Shares of Waste Management stock opened at $213.99 on Wednesday. The company has a 50 day moving average price of $209.34 and a 200 day moving average price of $208.85. The firm has a market capitalization of $85.89 billion, a P/E ratio of 32.72, a PEG ratio of 2.30 and a beta of 0.74. Waste Management has a 52 week low of $162.34 and a 52 week high of $225.00. The company has a quick ratio of 1.03, a current ratio of 0.89 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the business posted $1.63 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts expect that Waste Management will post 7.28 EPS for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.40%. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Institutional Trading of Waste Management

A number of large investors have recently made changes to their positions in WM. Hexagon Capital Partners LLC increased its position in shares of Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Waste Management in the second quarter valued at approximately $31,000. Fairway Wealth LLC grew its position in shares of Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after buying an additional 66 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Waste Management during the second quarter worth about $36,000. Finally, Fairscale Capital LLC acquired a new position in Waste Management during the second quarter worth approximately $39,000. 80.40% of the stock is currently 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.