Royal Bank of Canada Raises Waste Management (NYSE:WM) Price Target to $220.00

Waste Management (NYSE:WM) had its target price increased by Royal Bank of Canada from $204.00 to $220.00 in a research report sent to investors on Wednesday, Marketbeat reports. They currently have a sector perform rating on the business services provider’s stock.

Several other brokerages have also recently commented on WM. Robert W. Baird dropped 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 report on Friday, July 26th. William Blair began coverage on shares of Waste Management in a research report on Thursday, October 3rd. They issued an “outperform” rating on the stock. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. UBS Group upped their target price on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Scotiabank assumed coverage on Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $226.05.

Waste Management Price Performance

Shares of WM opened at $213.99 on Wednesday. Waste Management has a one year low of $162.34 and a one year high of $225.00. The stock’s fifty day moving average is $209.34 and its 200-day moving average is $208.85. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.03 and a current ratio of 0.89. The firm has a market capitalization 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.

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

Waste Management Dividend Announcement

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

Institutional Trading of Waste Management

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC boosted its holdings in Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management in the 2nd quarter worth approximately $31,000. Fairway Wealth LLC increased its position in shares of Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 66 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Waste Management in the second quarter worth $36,000. Finally, Fairscale Capital LLC acquired a new position in shares of Waste Management in the 2nd quarter valued at $39,000. Institutional investors and hedge funds 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.