Waste Management (NYSE:WM) Sets New 12-Month High – Here’s What Happened

Waste Management, Inc. (NYSE:WM)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $235.81 and last traded at $234.59, with a volume of 212483 shares. The stock had previously closed at $232.78.

Analyst Upgrades and Downgrades

WM has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on shares of Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. William Blair reiterated an “outperform” rating on shares of Waste Management in a research report on Friday, January 31st. Oppenheimer lifted their target price on Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. CIBC raised their target price on shares of Waste Management from $227.00 to $247.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, StockNews.com lowered Waste Management from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $236.65.

Waste Management Stock Performance

The stock has a fifty day simple moving average of $216.80 and a 200-day simple moving average of $214.38. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. The company has a market capitalization of $92.71 billion, a P/E ratio of 33.90, a PEG ratio of 2.71 and a beta of 0.78.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. Equities analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s dividend payout ratio is presently 48.53%.

Insider Activity at Waste Management

In other news, SVP Tara J. Hemmer sold 4,576 shares of Waste Management stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $222.12, for a total transaction of $1,016,421.12. Following the completion of the sale, the senior vice president now owns 58,765 shares in the company, valued at $13,052,881.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Johnson Varkey sold 124 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $234.96, for a total value of $29,135.04. Following the transaction, the senior vice president now owns 8,491 shares in the company, valued at approximately $1,995,045.36. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,406 shares of company stock valued at $15,076,127 over the last ninety days. 0.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WM. Activest Wealth Management raised its holdings in shares of Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 120 shares during the period. Global Wealth Strategies & Associates lifted its stake in shares of Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after buying an additional 125 shares during the last quarter. Transce3nd LLC acquired a new position in Waste Management in the 4th quarter valued at about $28,000. General Partner Inc. bought a new position in Waste Management in the 4th quarter valued at about $29,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in shares of Waste Management during the fourth quarter worth approximately $33,000. 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.