Waste Management, Inc. (NYSE:WM) Receives $228.94 Consensus Price Target from Brokerages

Shares of Waste Management, Inc. (NYSE:WM) have received an average recommendation of “Moderate Buy” from the twenty-one brokerages that are currently covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $228.94.

Several research analysts have recently weighed in on WM shares. BMO Capital Markets upped their price target on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Argus upped their price target on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Truist Financial upped their price target on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Scotiabank initiated coverage on shares of Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target on the stock.

Insider Transactions at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the transaction, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Waste Management

Institutional investors and hedge funds have recently made changes to their positions in the company. Aberdeen Wealth Management LLC boosted its holdings in Waste Management by 1.1% in the third quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after purchasing an additional 45 shares during the last quarter. Signature Estate & Investment Advisors LLC grew its holdings in shares of Waste Management by 3.9% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after acquiring an additional 46 shares during the period. ARS Wealth Advisors Group LLC increased its position in Waste Management by 3.1% during the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after acquiring an additional 47 shares during the last quarter. Benchmark Financial Wealth Advisors LLC boosted its position in Waste Management by 1.9% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock worth $546,000 after purchasing an additional 49 shares during the last quarter. Finally, Balboa Wealth Partners grew its stake in shares of Waste Management by 4.1% during the 3rd quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock valued at $256,000 after purchasing an additional 49 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Waste Management stock opened at $225.31 on Friday. Waste Management has a 12 month low of $171.15 and a 12 month high of $230.39. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The business’s 50 day simple moving average is $216.23 and its 200 day simple moving average is $211.00. The company has a market cap of $90.43 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 2.37 and a beta of 0.75.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the firm posted $1.63 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts forecast that Waste Management will post 7.31 EPS for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.33%. Waste Management’s dividend payout ratio is currently 45.87%.

About Waste Management

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.