Truist Financial Boosts Waste Management (NYSE:WM) Price Target to $240.00

Waste Management (NYSE:WM) had its target price lifted by Truist Financial from $220.00 to $240.00 in a report published on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the business services provider’s stock.

Other analysts also recently issued research reports about the company. StockNews.com upgraded Waste Management from a buy rating to a strong-buy rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their price target on Waste Management from $165.00 to $197.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Stifel Nicolaus lifted their price target on Waste Management from $215.00 to $227.00 and gave the stock a buy rating in a research note on Friday. UBS Group cut Waste Management from a buy rating to a neutral rating and lifted their price target for the stock from $190.00 to $205.00 in a research note on Wednesday, February 14th. Finally, Jefferies Financial Group lifted their price target on Waste Management from $230.00 to $256.00 and gave the stock a buy rating in a research note on Monday, March 18th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $214.21.

Waste Management Stock Performance

Shares of WM opened at $210.07 on Friday. The stock has a 50-day moving average price of $208.54 and a 200-day moving average price of $186.87. The company has a market cap of $84.30 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 3.23 and a beta of 0.72. Waste Management has a 12-month low of $149.71 and a 12-month high of $214.54. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 2.23.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. The company had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.22 billion. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. Waste Management’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS. As a group, equities analysts forecast that Waste Management will post 6.88 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Waste Management’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. Waste Management’s payout ratio is 49.10%.

Insider Activity

In related news, EVP Charles C. Boettcher sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the sale, the executive vice president now directly owns 29,677 shares of the company’s stock, valued at $6,217,331.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Charles C. Boettcher sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $209.50, for a total value of $523,750.00. Following the sale, the executive vice president now directly owns 29,677 shares of the company’s stock, valued at $6,217,331.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Charles C. Boettcher sold 3,275 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $199.49, for a total value of $653,329.75. Following the completion of the sale, the executive vice president now directly owns 36,403 shares in the company, valued at $7,262,034.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,007 shares of company stock valued at $3,696,520. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

Hedge funds have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC boosted its holdings in Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after acquiring an additional 75 shares in the last quarter. Sachetta LLC bought a new stake in Waste Management in the fourth quarter worth $27,000. Gilfoyle & Co LLC bought a new stake in Waste Management in the fourth quarter worth $30,000. Millburn Ridgefield Corp bought a new position in shares of Waste Management during the third quarter valued at $35,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Waste Management during the first quarter valued at $35,000. 80.40% of the stock is 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.