Waste Management (NYSE:WM) Cut to Buy at StockNews.com

StockNews.com downgraded shares of Waste Management (NYSE:WM) from a strong-buy rating to a buy rating in a report released on Wednesday morning.

Other research analysts have also issued reports about the stock. Royal Bank of Canada lowered their target price on shares of Waste Management from $215.00 to $204.00 and set a sector perform rating on the stock in a research note on Friday, July 26th. Scotiabank assumed coverage on shares of Waste Management in a research note on Friday, October 4th. They issued a sector perform rating and a $220.00 target price for the company. William Blair initiated coverage on shares of Waste Management in a research note on Thursday, October 3rd. They set an outperform rating for the company. CIBC reduced their price target on shares of Waste Management from $223.00 to $213.00 and set a neutral rating for the company in a report on Friday, July 26th. Finally, Robert W. Baird cut their price objective on shares of Waste Management from $226.00 to $216.00 and set a neutral rating on the stock in a research report on Friday, July 26th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $218.89.

Waste Management Trading Up 0.3 %

Shares of NYSE:WM opened at $211.81 on Wednesday. The stock has a market capitalization of $84.95 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 2.37 and a beta of 0.74. Waste Management has a 1-year low of $153.95 and a 1-year high of $225.00. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The company has a 50 day moving average price of $207.37 and a 200 day moving average price of $208.48.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.82. The company had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.51 EPS. On average, research analysts anticipate that Waste Management will post 7.24 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio is presently 49.10%.

Insider Transactions at Waste Management

In other Waste Management news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Waste Management

Several hedge funds and other institutional investors have recently bought and sold shares of WM. Hexagon Capital Partners LLC increased its holdings in Waste Management by 170.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after buying an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Waste Management in the 2nd quarter valued at about $31,000. Opal Wealth Advisors LLC bought a new position in Waste Management in the 1st quarter valued at about $35,000. Fairway Wealth LLC increased its holdings in Waste Management by 62.9% in the 2nd quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after buying an additional 66 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in Waste Management in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

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.