Waste Management (NYSE:WM) Price Target Raised to $235.00 at CIBC

Waste Management (NYSE:WM) had its price target boosted by CIBC from $228.00 to $235.00 in a report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

WM has been the subject of a number of other research reports. Morgan Stanley upped their price objective on shares of Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 1st. Scotiabank initiated coverage on Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price objective on the stock. Truist Financial raised their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $229.33.

Waste Management Price Performance

Shares of NYSE:WM opened at $222.19 on Wednesday. Waste Management has a one year low of $171.15 and a one year high of $230.39. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85. The firm has a market capitalization of $89.18 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 2.37 and a beta of 0.75. The company’s fifty day moving average price is $216.60 and its 200-day moving average price is $211.09.

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

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 dividend on an annualized basis and a yield of 1.35%. Waste Management’s dividend payout ratio (DPR) is 45.87%.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the transaction, the director now owns 3,875 shares of the company’s stock, valued at $834,946.25. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

Institutional investors have recently modified their holdings of the stock. Activest Wealth Management raised its holdings in Waste Management by 4,000.0% in the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Fairway Wealth LLC lifted its holdings in shares of Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 66 shares in the last quarter. Fairscale Capital LLC purchased a new stake in shares of Waste Management during the second quarter valued at $39,000. Strategic Investment Solutions Inc. IL bought a new stake in Waste Management in the 2nd quarter worth about $36,000. Finally, Hexagon Capital Partners LLC lifted its stake in Waste Management by 67.2% during the 2nd quarter. Hexagon Capital Partners LLC now owns 199 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 80 shares during the period. 80.40% of the stock is 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.