Scotiabank Forecasts Strong Price Appreciation for Waste Management (NYSE:WM) Stock

Waste Management (NYSE:WM) had its price target increased by Scotiabank from $250.00 to $255.00 in a research report released on Monday morning,Benzinga reports. They currently have a sector outperform rating on the business services provider’s stock.

A number of other research analysts also recently commented on WM. StockNews.com downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Morgan Stanley lifted their price target on Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. UBS Group increased their target price on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Truist Financial boosted their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, William Blair reaffirmed an “outperform” rating on shares of Waste Management in a report on Friday, January 31st. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $234.50.

Waste Management Price Performance

WM opened at $224.67 on Monday. The company has a 50 day moving average of $212.05 and a two-hundred day moving average of $211.24. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management has a 52-week low of $187.48 and a 52-week high of $230.39. The company has a market cap of $90.18 billion, a P/E ratio of 33.04, a P/E/G ratio of 2.57 and a beta of 0.78.

Waste Management (NYSE:WM) last announced its earnings results 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 net margin of 12.45% and a return on equity of 38.88%. On average, analysts expect that Waste Management will post 7.92 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.34%. The ex-dividend date was Friday, December 6th. Waste Management’s payout ratio is currently 44.12%.

Insider Buying and Selling at Waste Management

In related news, SVP Tara J. Hemmer sold 4,576 shares of the 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 directly owns 58,765 shares of the company’s stock, valued at $13,052,881.80. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Johnson Varkey sold 560 shares of Waste Management stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.11, for a total transaction of $123,261.60. Following the completion of the transaction, the senior vice president now owns 9,152 shares in the company, valued at approximately $2,014,446.72. This trade represents a 5.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,055 shares of company stock valued at $2,674,780. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Hedge funds have recently bought and sold shares of the company. Activest Wealth Management lifted its position in shares of Waste Management by 4,000.0% in the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. Global Wealth Strategies & Associates boosted 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 valued at $28,000 after buying an additional 125 shares during the period. General Partner Inc. acquired a new position in shares of Waste Management in the fourth quarter worth $29,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Waste Management during the fourth quarter valued at $33,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Waste Management in the fourth quarter valued at about $35,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

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.