Waste Management (NYSE:WM – Get Rating) had its price objective cut by Oppenheimer to $169.00 in a report published on Thursday morning, Stock Target Advisor reports. Oppenheimer also issued estimates for Waste Management's Q3 2022 earnings at $1.54 EPS.
A number of other analysts have also recently weighed in on WM. Morgan Stanley raised their price target on Waste Management from $175.00 to $180.00 and gave the company an equal weight rating in a research note on Tuesday, September 27th. StockNews.com started coverage on Waste Management in a report on Wednesday, October 12th. They issued a strong-buy rating on the stock. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Waste Management has a consensus rating of Hold and a consensus target price of $168.29.
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NYSE WM opened at $159.95 on Thursday. The stock has a market capitalization of $66.11 billion, a price-to-earnings ratio of 31.22, a PEG ratio of 2.05 and a beta of 0.75. Waste Management has a twelve month low of $138.58 and a twelve month high of $175.98. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 1.95. The stock has a 50-day moving average of $167.09 and a 200 day moving average of $160.65.
Waste Management (NYSE:WM – Get Rating) last posted its quarterly earnings results on Wednesday, July 27th. The business services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.36 by $0.08. The firm had revenue of $5.03 billion during the quarter, compared to analysts' expectations of $4.84 billion. Waste Management had a return on equity of 30.69% and a net margin of 11.27%. The business's revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 earnings per share. Sell-side analysts anticipate that Waste Management will post 5.69 EPS for the current fiscal year.Waste Management Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, September 8th. Waste Management's payout ratio is 50.78%.
Insider Buying and Selling
In other news, VP Michael J. Watson sold 8,971 shares of the firm's stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $169.83, for a total transaction of $1,523,544.93. Following the transaction, the vice president now owns 32,221 shares in the company, valued at approximately $5,472,092.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Devina A. Rankin sold 22,082 shares of Waste Management stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $175.00, for a total transaction of $3,864,350.00. Following the sale, the chief financial officer now directly owns 50,516 shares in the company, valued at approximately $8,840,300. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael J. Watson sold 8,971 shares of Waste Management stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $169.83, for a total transaction of $1,523,544.93. Following the transaction, the vice president now directly owns 32,221 shares of the company's stock, valued at $5,472,092.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,848 shares of company stock valued at $9,258,942. Company insiders own 0.18% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Desjardins Global Asset Management Inc. bought a new stake in Waste Management during the second quarter worth $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Waste Management in the second quarter valued at about $30,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Waste Management in the first quarter valued at about $32,000. GoalVest Advisory LLC grew its stake in Waste Management by 2,030.0% during the second quarter. GoalVest Advisory LLC now owns 213 shares of the business services provider's stock worth $32,000 after buying an additional 203 shares in the last quarter. Finally, TFO TDC LLC acquired a new stake in Waste Management during the first quarter worth about $34,000. Institutional investors and hedge funds own 74.74% of the company's stock.
About Waste Management
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Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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