Waste Management (NYSE:WM) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Waste Management (NYSE:WM) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday morning.

A number of other research analysts also recently issued reports on WM. UBS Group boosted their price target on Waste Management from $220.00 to $226.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Scotiabank initiated coverage on Waste Management in a research report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price target on the stock. Oppenheimer increased their target price on Waste Management from $230.00 to $231.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Royal Bank of Canada lifted their target price on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and a consensus price target of $228.94.

Waste Management Stock Performance

NYSE WM opened at $225.01 on Friday. The company’s 50 day simple moving average is $215.88 and its two-hundred day simple moving average is $210.90. The stock has a market capitalization of $90.31 billion, a PE ratio of 34.41, a P/E/G ratio of 2.37 and a beta of 0.75. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. Waste Management has a 1 year low of $171.15 and a 1 year high of $230.39.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the firm posted $1.63 EPS. Waste Management’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts predict that Waste Management will post 7.31 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.33%. Waste Management’s dividend payout ratio is currently 45.87%.

Insider Activity

In other news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now owns 3,875 shares of the company’s stock, valued at $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Waste Management

A number of large investors have recently made changes to their positions in WM. Activest Wealth Management lifted its stake in shares of Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after buying an additional 120 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Waste Management in the second quarter valued at about $31,000. Fairway Wealth LLC raised its stake in shares of Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after purchasing an additional 66 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Waste Management in the second quarter valued at approximately $36,000. Finally, Fairscale Capital LLC purchased a new position in Waste Management during the 2nd quarter worth approximately $39,000. 80.40% of the stock is owned by institutional investors and hedge funds.

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.