Brokerages Set Waste Management, Inc. (NYSE:WM) PT at $116.00

Waste Management, Inc. (NYSE:WM) has received a consensus recommendation of “Buy” from the fourteen brokerages that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $116.00.

Several analysts have recently issued reports on WM shares. KeyCorp upped their target price on shares of Waste Management from $112.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Stifel Nicolaus upped their target price on shares of Waste Management from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Raymond James set a $127.00 target price on shares of Waste Management and gave the stock a “buy” rating in a research note on Friday, July 26th. CIBC reiterated a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th.

In related news, Director Patrick W. Gross sold 289 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $118.61, for a total transaction of $34,278.29. Following the completion of the transaction, the director now owns 53,378 shares in the company, valued at $6,331,164.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James C. Fish, Jr. sold 84,314 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $116.51, for a total transaction of $9,823,424.14. Following the transaction, the chief executive officer now owns 282,921 shares of the company’s stock, valued at approximately $32,963,125.71. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Krane Funds Advisors LLC bought a new position in Waste Management during the second quarter worth about $25,000. Joseph P. Lucia & Associates LLC purchased a new stake in shares of Waste Management in the first quarter worth about $31,000. Hanson McClain Inc. lifted its holdings in shares of Waste Management by 51.0% in the first quarter. Hanson McClain Inc. now owns 302 shares of the business services provider’s stock worth $31,000 after buying an additional 102 shares in the last quarter. Financial Gravity Wealth Inc. lifted its holdings in shares of Waste Management by 133.1% in the second quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock worth $33,000 after buying an additional 161 shares in the last quarter. Finally, Personal Wealth Partners purchased a new stake in shares of Waste Management in the second quarter worth about $35,000. Hedge funds and other institutional investors own 73.87% of the company’s stock.

WM traded up $0.60 during trading on Wednesday, hitting $118.71. 771,134 shares of the company’s stock were exchanged, compared to its average volume of 1,742,768. Waste Management has a fifty-two week low of $83.22 and a fifty-two week high of $120.58. The company has a quick ratio of 1.66, a current ratio of 1.70 and a debt-to-equity ratio of 1.95. The stock has a market cap of $50.53 billion, a P/E ratio of 28.26, a PEG ratio of 3.22 and a beta of 0.62. The business’s 50 day moving average is $117.57 and its two-hundred day moving average is $108.40.

Waste Management (NYSE:WM) last posted its earnings results on Thursday, July 25th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.04. Waste Management had a net margin of 11.49% and a return on equity of 29.15%. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the business posted $1.01 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that Waste Management will post 4.33 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.512 per share. The ex-dividend date is Thursday, September 5th. This represents a $2.05 annualized dividend and a yield of 1.73%. Waste Management’s payout ratio is currently 48.81%.

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.

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Analyst Recommendations for Waste Management (NYSE:WM)

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