Waste Management (NYSE:WM) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Waste Management (NYSE:WM) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.

Other analysts have also issued reports about the stock. Truist Financial boosted their price target on shares of Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Scotiabank started coverage on shares of Waste Management in a research note on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price on the stock. Stifel Nicolaus raised their price target on shares of Waste Management from $243.00 to $252.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Argus upped their price objective on Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada increased their price objective on Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Ten investment 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 stock. According to MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $230.72.

Waste Management Stock Performance

Shares of WM stock opened at $205.53 on Tuesday. Waste Management has a one year low of $175.62 and a one year high of $230.39. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The firm’s 50 day moving average price is $217.54 and its 200-day moving average price is $211.43. The firm has a market cap of $82.49 billion, a P/E ratio of 31.43, a P/E/G ratio of 2.36 and a beta of 0.75.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.07. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 earnings per share. As a group, equities research analysts predict that Waste Management will post 7.32 EPS for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 1.46%. Waste Management’s dividend payout ratio is currently 45.87%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Activest Wealth Management increased 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 acquiring an additional 120 shares during the period. Fairway Wealth LLC grew its position in Waste Management by 62.9% during the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares during the last quarter. Fairscale Capital LLC acquired a new position in Waste Management in the second quarter valued at $39,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Waste Management in the second quarter valued at about $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its stake in shares of Waste Management by 51.8% during the third quarter. DHJJ Financial Advisors Ltd. now owns 211 shares of the business services provider’s stock worth $44,000 after buying an additional 72 shares during the period. 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.