Waste Management, Inc. (NYSE:WM) declared a quarterly dividend on Monday, February 19th, Zacks reports. Investors of record on Friday, March 9th will be given a dividend of 0.465 per share by the business services provider on Friday, March 23rd. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, March 8th. This is a positive change from Waste Management’s previous quarterly dividend of $0.43.
Waste Management has increased its dividend payment by an average of 4.3% per year over the last three years and has raised its dividend every year for the last 14 years. Waste Management has a payout ratio of 53.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Waste Management to earn $4.41 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 38.5%.
Waste Management (WM) traded up $0.22 on Wednesday, hitting $86.88. 316,822 shares of the company were exchanged, compared to its average volume of 2,400,938. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.77 and a current ratio of 0.80. The stock has a market capitalization of $37,720.00, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 1.96 and a beta of 0.70. Waste Management has a one year low of $70.08 and a one year high of $89.73.
Several equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a report on Saturday, January 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price target on shares of Waste Management in a report on Thursday, January 4th. Macquarie raised shares of Waste Management from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 3rd. Raymond James Financial raised shares of Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a report on Friday, February 16th. Finally, UBS Group raised shares of Waste Management from a “market perform” rating to an “outperform” rating in a report on Friday, February 16th. Ten equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $90.13.
Waste Management declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 14th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In related news, VP Jeff M. Harris sold 60,088 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $86.67, for a total value of $5,207,826.96. Following the sale, the vice president now owns 80,203 shares in the company, valued at $6,951,194.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Barry H. Caldwell sold 1,840 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $84.10, for a total transaction of $154,744.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,291 shares of company stock worth $9,154,833. Company insiders own 0.19% of the company’s stock.
About Waste Management
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.