Waste Management (NYSE:WM) Coverage Initiated by Analysts at HSBC

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

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

Waste Management Stock Performance

Shares of WM stock opened at $159.82 on Friday. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.78 and a current ratio of 0.82. Waste Management has a fifty-two week low of $148.31 and a fifty-two week high of $173.71. The stock has a 50 day moving average price of $161.99 and a two-hundred day moving average price of $162.47. The company has a market capitalization of $64.74 billion, a P/E ratio of 28.74, a PEG ratio of 2.72 and a beta of 0.72.

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

Waste Management Announces Dividend

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

Insider Activity at Waste Management

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Spirit of America Management Corp NY acquired a new stake in shares of Waste Management in the second quarter valued at $26,000. Mizuho Securities Co. Ltd. acquired a new stake in Waste Management in the 2nd quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Waste Management in the 1st quarter valued at approximately $29,000. Ten Capital Wealth Advisors LLC raised 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 buying an additional 166 shares during the last quarter. Finally, Steward Financial Group LLC acquired a new position in shares of Waste Management during the 4th quarter worth approximately $31,000. 78.34% of the stock is currently owned by institutional investors and hedge funds.

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.