Raymond James Increases Waste Management (NYSE:WM) Price Target to $229.00

Waste Management (NYSE:WM) had its price objective increased by Raymond James from $219.00 to $229.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

A number of other equities research analysts have also weighed in on WM. JPMorgan Chase & Co. boosted their target price on shares of Waste Management from $165.00 to $197.00 and gave the stock a neutral rating in a report on Thursday, February 15th. Truist Financial increased their price objective on Waste Management from $220.00 to $240.00 and gave the company a buy rating in a report on Friday. UBS Group downgraded Waste Management from a buy rating to a neutral rating and lifted their target price for the stock from $190.00 to $205.00 in a report on Wednesday, February 14th. Jefferies Financial Group raised their price objective on Waste Management from $230.00 to $256.00 and gave the stock a buy rating in a research report on Monday, March 18th. Finally, BMO Capital Markets lifted their price objective on Waste Management from $207.00 to $212.00 and gave the stock a market perform rating in a research note on Friday. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $215.88.

Waste Management Stock Up 1.0 %

Shares of NYSE:WM opened at $212.10 on Friday. Waste Management has a 52-week low of $149.71 and a 52-week high of $214.54. The company has a market capitalization of $85.07 billion, a PE ratio of 34.71, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72. 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 company has a fifty day moving average of $208.75 and a 200-day moving average of $187.69.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The business had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.31 EPS. On average, equities analysts predict that Waste Management will post 7.09 EPS for the current fiscal year.

Waste Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 1.41%. This is a positive change from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s dividend payout ratio is currently 49.10%.

Insider Activity

In related news, CFO Devina A. Rankin sold 775 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $198.58, for a total transaction of $153,899.50. Following the transaction, the chief financial officer now directly owns 75,204 shares of the company’s stock, valued at approximately $14,934,010.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Devina A. Rankin sold 775 shares of Waste Management stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $198.58, for a total value of $153,899.50. Following the completion of the sale, the chief financial officer now owns 75,204 shares of the company’s stock, valued at approximately $14,934,010.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Christopher P. Desantis sold 346 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $199.64, for a total transaction of $69,075.44. Following the completion of the transaction, the senior vice president now directly owns 8,218 shares in the company, valued at $1,640,641.52. The disclosure for this sale can be found here. Insiders sold a total of 18,007 shares of company stock worth $3,696,520 in the last three months. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management lifted its holdings in shares of Waste Management by 65.0% in the first quarter. OFI Invest Asset Management now owns 47,917 shares of the business services provider’s stock valued at $9,776,000 after purchasing an additional 18,876 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Waste Management by 10.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 347,361 shares of the business services provider’s stock valued at $74,040,000 after acquiring an additional 31,538 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Waste Management by 2.1% in the first quarter. Commonwealth Equity Services LLC now owns 278,039 shares of the business services provider’s stock valued at $59,264,000 after purchasing an additional 5,639 shares during the last quarter. Field & Main Bank lifted its position in shares of Waste Management by 0.5% during the first quarter. Field & Main Bank now owns 11,649 shares of the business services provider’s stock valued at $2,483,000 after purchasing an additional 54 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its position in Waste Management by 4.4% in the 1st quarter. Benjamin Edwards Inc. now owns 5,762 shares of the business services provider’s stock worth $1,228,000 after purchasing an additional 241 shares in the last quarter. 80.40% of the stock is 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.