Waste Management (NYSE:WM) Price Target Raised to $230.00

Waste Management (NYSE:WM) had its price objective hoisted by Oppenheimer from $224.00 to $230.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

WM has been the topic of a number of other research reports. William Blair assumed coverage on Waste Management in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. CIBC dropped their price objective on Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada dropped their price objective on Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Finally, Truist Financial lowered their target price on Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.05.

Waste Management Trading Down 0.9 %

NYSE:WM opened at $213.99 on Wednesday. The firm has a market cap of $85.89 billion, a P/E ratio of 32.72, a PEG ratio of 2.30 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 1.03 and a debt-to-equity ratio of 2.00. The stock’s 50 day simple moving average is $209.34 and its 200-day simple moving average is $208.83. Waste Management has a 12-month low of $162.34 and a 12-month high of $225.00.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) 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 business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Waste Management will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.40%. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Hedge Funds Weigh In On Waste Management

Several large investors have recently added to or reduced their stakes in WM. Hexagon Capital Partners LLC lifted its position in Waste Management by 170.5% during the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after buying an additional 75 shares during the period. Norden Group LLC acquired a new stake in Waste Management during the first quarter worth about $7,146,000. Kovack Advisors Inc. increased its stake in Waste Management by 2.8% during the first quarter. Kovack Advisors Inc. now owns 5,606 shares of the business services provider’s stock worth $1,195,000 after acquiring an additional 152 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in Waste Management by 5.4% during the first quarter. First Trust Direct Indexing L.P. now owns 12,360 shares of the business services provider’s stock worth $2,635,000 after acquiring an additional 634 shares during the last quarter. Finally, Everett Harris & Co. CA increased its stake in Waste Management by 10.5% during the first quarter. Everett Harris & Co. CA now owns 1,477 shares of the business services provider’s stock worth $315,000 after acquiring an additional 140 shares during the last quarter. 80.40% of the stock is currently 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.