Waste Management (NYSE:WM) Price Target Raised to $240.00

Waste Management (NYSE:WM) had its price objective raised by Argus from $230.00 to $240.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other research analysts also recently commented on WM. JPMorgan Chase & Co. lifted their price target on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research report on Wednesday. Royal Bank of Canada upped their price objective on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research report on Wednesday. Morgan Stanley upped their price target on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a report on Wednesday. UBS Group boosted their price objective on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Robert W. Baird decreased their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average target price of $226.05.

Waste Management Stock Performance

Shares of WM opened at $213.99 on Thursday. The firm has a market cap of $85.89 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. The company’s fifty day moving average is $209.34 and its 200-day moving average is $208.85. 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 has a 12 month low of $162.34 and a 12 month high of $225.00.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating 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 company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the company earned $1.63 earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year. Equities analysts expect that Waste Management will post 7.28 EPS for the current fiscal year.

Waste Management Announces Dividend

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

Institutional Investors Weigh In On Waste Management

A number of institutional investors have recently made changes to their positions in WM. Ameriprise Financial Inc. boosted its position in shares of Waste Management by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after purchasing an additional 12,664 shares in the last quarter. Capital World Investors grew its stake in Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after acquiring an additional 1,303,466 shares during the period. Legal & General Group Plc increased its holdings in shares of Waste Management by 6.8% in the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock worth $820,539,000 after acquiring an additional 243,900 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Waste Management by 94,414.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after purchasing an additional 2,588,842 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Waste Management by 11.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock valued at $473,047,000 after purchasing an additional 221,380 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

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.