Waste Management (NYSE:WM) Price Target Raised to $228.00 at CIBC

Waste Management (NYSE:WM) had its price objective increased by CIBC from $213.00 to $228.00 in a report released on Wednesday, Benzinga reports. CIBC currently has a neutral rating on the business services provider’s stock.

Other analysts have also issued research reports about the company. Morgan Stanley raised their target price on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a report on Wednesday. Truist Financial raised their target price on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday. William Blair assumed coverage on Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Scotiabank assumed coverage on Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price on the stock. Finally, The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.28.

Waste Management Stock Down 1.9 %

Shares of WM stock opened at $214.95 on Wednesday. The stock’s 50 day simple moving average is $209.14 and its 200 day simple moving average is $208.72. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. Waste Management has a twelve month low of $162.03 and a twelve month high of $225.00. The company has a market capitalization of $86.26 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 2.29 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the business earned $1.63 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, research analysts predict that Waste Management will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.40%. Waste Management’s payout ratio is 45.87%.

Hedge Funds Weigh In On Waste Management

Several institutional investors have recently bought and sold shares of WM. International Assets Investment Management LLC raised its position in Waste Management by 94,414.4% in 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 during the last quarter. Sustainable Growth Advisers LP bought a new position in Waste Management in the 1st quarter valued at $300,594,000. Capital World Investors raised its position in shares of Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock worth $900,957,000 after acquiring an additional 1,303,466 shares during the last quarter. Swedbank AB bought a new stake in shares of Waste Management during the first quarter worth $193,955,000. Finally, Wulff Hansen & CO. raised its position in shares of Waste Management by 20,402.6% during the second quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock worth $185,196,000 after acquiring an additional 863,846 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

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.