Oppenheimer Boosts Waste Management (NYSE:WM) Price Target to $228.00

Waste Management (NYSE:WM) had its price target boosted by Oppenheimer from $221.00 to $228.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

A number of other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Waste Management from $165.00 to $197.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Truist Financial boosted their target price on shares of Waste Management from $220.00 to $240.00 and gave the company a buy rating in a research note on Friday. StockNews.com raised shares of Waste Management from a buy rating to a strong-buy rating in a research note on Tuesday, April 9th. BMO Capital Markets boosted their target price on shares of Waste Management from $207.00 to $212.00 and gave the company a market perform rating in a research note on Friday. Finally, Jefferies Financial Group boosted their target price on shares of Waste Management from $230.00 to $256.00 and gave the company a buy rating in a research note on Monday, March 18th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $214.21.

Waste Management Price Performance

Shares of NYSE:WM opened at $210.07 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 2.23. Waste Management has a fifty-two week low of $149.71 and a fifty-two week high of $214.54. The firm has a 50-day simple moving average of $208.54 and a 200 day simple moving average of $186.87. The company has a market cap of $84.30 billion, a PE ratio of 34.38, a P/E/G ratio of 3.23 and a beta of 0.72.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The business had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Waste Management will post 6.88 EPS for the current year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.75 dividend. This is a positive change from Waste Management’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Thursday, March 14th. Waste Management’s dividend payout ratio is currently 49.10%.

Insider Transactions at Waste Management

In other news, EVP Charles C. Boettcher sold 3,275 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $199.49, for a total value of $653,329.75. Following the completion of the sale, the executive vice president now directly owns 36,403 shares of the company’s stock, valued at approximately $7,262,034.47. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP John J. Morris sold 8,889 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $207.46, for a total transaction of $1,844,111.94. Following the completion of the sale, the executive vice president now directly owns 95,461 shares in the company, valued at $19,804,339.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles C. Boettcher sold 3,275 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $199.49, for a total transaction of $653,329.75. Following the sale, the executive vice president now owns 36,403 shares of the company’s stock, valued at $7,262,034.47. The disclosure for this sale can be found here. In the last three months, insiders sold 18,007 shares of company stock valued at $3,696,520. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Large investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC lifted its position in shares of Waste Management by 8.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 28,912 shares of the business services provider’s stock valued at $4,407,000 after acquiring an additional 2,272 shares in the last quarter. Birch Hill Investment Advisors LLC lifted its position in shares of Waste Management by 5.5% in the 4th quarter. Birch Hill Investment Advisors LLC now owns 6,321 shares of the business services provider’s stock valued at $1,132,000 after acquiring an additional 332 shares in the last quarter. Ingalls & Snyder LLC lifted its position in shares of Waste Management by 1.0% in the 3rd quarter. Ingalls & Snyder LLC now owns 22,662 shares of the business services provider’s stock valued at $3,455,000 after acquiring an additional 231 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Waste Management by 93.0% in the 4th quarter. Pacer Advisors Inc. now owns 46,613 shares of the business services provider’s stock valued at $8,348,000 after acquiring an additional 22,455 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Waste Management by 13,927.7% in the 4th quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock valued at $90,319,000 after acquiring an additional 500,701 shares in the last quarter. 80.40% of the stock is currently owned by 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.