CIBC Issues Positive Forecast for Waste Management (NYSE:WM) Stock Price

Waste Management (NYSE:WM) had its price target lifted by CIBC from $227.00 to $247.00 in a report issued on Wednesday,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Other research analysts have also issued reports about the stock. William Blair reiterated an “outperform” rating on shares of Waste Management in a research note on Friday, January 31st. Scotiabank lifted their target price on shares of Waste Management from $250.00 to $255.00 and gave the company a “sector outperform” rating in a report on Monday, February 3rd. Jefferies Financial Group cut their price target on Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Morgan Stanley lifted their price objective on Waste Management from $227.00 to $235.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, Stifel Nicolaus increased their target price on Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $236.65.

Waste Management Stock Performance

Waste Management stock opened at $230.55 on Wednesday. Waste Management has a fifty-two week low of $196.59 and a fifty-two week high of $235.81. The stock’s 50 day simple moving average is $217.30 and its two-hundred day simple moving average is $214.49. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.85 and a current ratio of 0.76. The stock has a market cap of $92.71 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.71 and a beta of 0.78.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. As a group, analysts expect that Waste Management will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.825 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.30 annualized dividend and a dividend yield of 1.43%. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s payout ratio is presently 48.53%.

Insider Activity at Waste Management

In related news, SVP Johnson Varkey sold 124 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $234.96, for a total value of $29,135.04. Following the transaction, the senior vice president now directly owns 8,491 shares of the company’s stock, valued at approximately $1,995,045.36. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James C. Fish, Jr. sold 44,405 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $228.43, for a total value of $10,143,434.15. Following the sale, the chief executive officer now directly owns 211,061 shares of the company’s stock, valued at $48,212,664.23. This represents a 17.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,173 shares of company stock worth $17,075,967. 0.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Activest Wealth Management raised its stake in Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after acquiring an additional 120 shares during the period. Global Wealth Strategies & Associates raised its position in shares of Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 125 shares during the period. Transce3nd LLC purchased a new position in shares of Waste Management during the 4th quarter valued at $28,000. General Partner Inc. bought a new position in Waste Management in the 4th quarter worth $29,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in Waste Management in the 4th quarter worth $33,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

About Waste Management

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.