Waste Management (NYSE:WM) Coverage Initiated at HSBC

HSBC initiated coverage on shares of Waste Management (NYSE:WM) in a research note issued to investors on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $192.00 price objective on the business services provider’s stock.

Several other equities analysts also recently issued reports on WM. BMO Capital Markets cut their price target on shares of Waste Management from $167.00 to $166.00 in a report on Thursday, July 27th. Raymond James dropped their target price on shares of Waste Management from $185.00 to $179.00 and set an outperform rating for the company in a research note on Thursday, July 27th. Citigroup dropped their target price on shares of Waste Management from $204.00 to $202.00 in a research note on Thursday, July 27th. Finally, StockNews.com assumed coverage on shares of Waste Management in a research note on Thursday, August 17th. They set a buy rating for the company. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $180.25.

Waste Management Stock Down 0.4 %

Waste Management stock opened at $159.82 on Friday. The firm has a market cap of $64.74 billion, a PE ratio of 28.74, a P/E/G ratio of 2.72 and a beta of 0.72. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.78 and a current ratio of 0.82. The firm’s 50 day moving average price is $161.99 and its two-hundred day moving average price is $162.47. Waste Management has a twelve month low of $148.31 and a twelve month high of $173.71.

Waste Management (NYSE:WM) last posted its earnings results on Tuesday, July 25th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.03). The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.23 billion. Waste Management had a net margin of 11.42% and a return on equity of 33.81%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.44 earnings per share. On average, research analysts predict that Waste Management will post 5.96 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.80 dividend on an annualized basis and a yield of 1.75%. Waste Management’s payout ratio is 50.36%.

Insiders Place Their Bets

In other news, Director Bruce E. Chinn sold 172 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $159.44, for a total value of $27,423.68. Following the sale, the director now directly owns 822 shares in the company, valued at approximately $131,059.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Waste Management news, Director John C. Pope sold 198 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $168.40, for a total transaction of $33,343.20. Following the completion of the transaction, the director now owns 56,147 shares in the company, valued at approximately $9,455,154.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bruce E. Chinn sold 172 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $159.44, for a total transaction of $27,423.68. Following the sale, the director now directly owns 822 shares of the company’s stock, valued at approximately $131,059.68. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Waste Management

Several large investors have recently modified their holdings of the stock. Spirit of America Management Corp NY acquired a new stake in Waste Management in the 2nd quarter valued at $26,000. Mizuho Securities Co. Ltd. acquired a new stake in Waste Management in the 2nd quarter valued at $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Waste Management in the 1st quarter valued at $29,000. Ten Capital Wealth Advisors LLC grew its position in Waste Management by 1,106.7% in the 1st quarter. Ten Capital Wealth Advisors LLC now owns 181 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 166 shares during the period. Finally, Steward Financial Group LLC acquired a new stake in Waste Management in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 78.34% of the company’s stock.

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.