Waste Management (NYSE:WM) Upgraded at UBS Group

UBS Group upgraded shares of Waste Management (NYSE:WM) from a neutral rating to a buy rating in a report published on Friday morning, MarketBeat Ratings reports. UBS Group currently has $260.00 target price on the business services provider’s stock, up from their prior target price of $225.00.

A number of other brokerages also recently issued reports on WM. Citigroup increased their target price on Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Cowen reaffirmed a “buy” rating on shares of Waste Management in a report on Wednesday, October 29th. Oppenheimer raised their target price on Waste Management from $262.00 to $263.00 and gave the company an “outperform” rating in a report on Tuesday, December 16th. Erste Group Bank cut shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Finally, Wells Fargo & Company began coverage on shares of Waste Management in a research note on Friday, November 14th. They issued an “overweight” rating and a $238.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and a consensus price target of $250.77.

Waste Management Stock Performance

Shares of WM opened at $220.96 on Friday. The stock has a market capitalization of $89.02 billion, a P/E ratio of 34.80, a P/E/G ratio of 2.47 and a beta of 0.59. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.80 and a current ratio of 0.84. Waste Management has a 1 year low of $194.11 and a 1 year high of $242.58. The company’s fifty day moving average is $213.84 and its two-hundred day moving average is $219.45.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.03). The firm had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.96 EPS. On average, sell-side analysts predict that Waste Management will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, December 5th. Waste Management’s dividend payout ratio is 51.97%.

Insider Activity at Waste Management

In other news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following the completion of the transaction, the senior vice president directly owned 15,540 shares of the company’s stock, valued at $3,373,112.40. This trade represents a 8.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

Institutional Trading of Waste Management

A number of hedge funds have recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after purchasing an additional 2,320 shares during the last quarter. Sprott Inc. acquired a new stake in Waste Management in the 1st quarter worth about $325,000. Empowered Funds LLC grew its holdings in Waste Management by 82.9% in the 1st quarter. Empowered Funds LLC now owns 22,670 shares of the business services provider’s stock valued at $5,248,000 after buying an additional 10,272 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Waste Management by 7.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,492 shares of the business services provider’s stock valued at $577,000 after acquiring an additional 181 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of Waste Management during the 1st quarter worth about $37,585,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

About Waste Management

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.