Recent Investment Analysts’ Ratings Changes for Waste Management (WM)

A number of firms have modified their ratings and price targets on shares of Waste Management (NYSE: WM) recently:

• 4/30/2024 – Waste Management had its price target raised by analysts at Robert W. Baird from $214.00 to $222.00. They now have a “neutral” rating on the stock.
• 4/29/2024 – Waste Management had its price target raised by analysts at CIBC from $207.00 to $220.00. They now have a “neutral” rating on the stock.
• 4/29/2024 – Waste Management had its price target raised by analysts at TD Cowen from $220.00 to $235.00. They now have a “buy” rating on the stock.
• 4/26/2024 – Waste Management had its price target raised by analysts at Royal Bank of Canada from $211.00 to $215.00. They now have a “sector perform” rating on the stock.
• 4/26/2024 – Waste Management had its price target raised by analysts at Raymond James from $219.00 to $229.00. They now have an “outperform” rating on the stock.
• 4/26/2024 – Waste Management had its price target raised by analysts at Oppenheimer Holdings Inc. from $221.00 to $228.00. They now have an “outperform” rating on the stock.
• 4/26/2024 – Waste Management had its price target raised by analysts at BMO Capital Markets from $207.00 to $212.00. They now have a “market perform” rating on the stock.
• 4/26/2024 – Waste Management had its price target raised by analysts at Morgan Stanley from $202.00 to $214.00. They now have an “equal weight” rating on the stock.
• 4/26/2024 – Waste Management had its price target raised by analysts at Truist Financial Co. from $220.00 to $240.00. They now have a “buy” rating on the stock.
• 4/26/2024 – Waste Management had its price target raised by analysts at Stifel Nicolaus from $215.00 to $227.00. They now have a “buy” rating on the stock.
• 4/9/2024 – Waste Management was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 4/8/2024 – Waste Management is now covered by analysts at Royal Bank of Canada. They set a “sector perform” rating and a $211.00 price target on the stock.
• 3/18/2024 – Waste Management had its price target raised by analysts at Jefferies Financial Group Inc. from $230.00 to $256.00. They now have a “buy” rating on the stock.
• 3/16/2024 – Waste Management was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 3/8/2024 – Waste Management was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.

Waste Management Stock Performance

NYSE:WM traded up $0.44 during mid-day trading on Thursday, reaching $207.20. The stock had a trading volume of 520,497 shares, compared to its average volume of 1,664,728. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. The business has a 50 day simple moving average of $208.93 and a 200 day simple moving average of $188.17. Waste Management, Inc. has a twelve month low of $149.71 and a twelve month high of $214.54. The firm has a market capitalization of $83.10 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 2.74 and a beta of 0.72.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, April 24th. The business services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.52 by $0.23. The company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 EPS. On average, analysts expect that Waste Management, Inc. will post 7.19 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Thursday, March 14th. This is an increase from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s payout ratio is 49.10%.

Insider Activity at Waste Management

In other news, VP Donald J. Smith sold 329 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $198.56, for a total transaction of $65,326.24. Following the completion of the transaction, the vice president now directly owns 5,522 shares of the company’s stock, valued at approximately $1,096,448.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Waste Management news, VP Donald J. Smith sold 329 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $198.56, for a total value of $65,326.24. Following the transaction, the vice president now directly owns 5,522 shares in the company, valued at approximately $1,096,448.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Charles C. Boettcher sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $209.50, for a total value of $523,750.00. Following the completion of the transaction, the executive vice president now owns 29,677 shares of the company’s stock, valued at $6,217,331.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,007 shares of company stock valued at $3,696,520. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Hexagon Capital Partners LLC boosted its position in shares of 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. Sachetta LLC bought a new position in shares of Waste Management during the 4th quarter worth about $27,000. Gilfoyle & Co LLC bought a new stake in shares of Waste Management in the 4th quarter valued at approximately $30,000. Millburn Ridgefield Corp acquired a new stake in shares of Waste Management during the 3rd quarter worth about $35,000. Finally, Opal Wealth Advisors LLC acquired a new position in Waste Management in the first quarter worth $35,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

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.