StockNews.com Upgrades Waste Management (NYSE:WM) to “Strong-Buy”

StockNews.com upgraded shares of Waste Management (NYSE:WM) from a buy rating to a strong-buy rating in a report published on Tuesday morning.

WM has been the subject of a number of other research reports. The Goldman Sachs Group raised Waste Management to a strong-buy rating in a report on Friday, July 26th. Erste Group Bank reissued a hold rating on shares of Waste Management in a report on Friday, June 14th. CIBC lowered their target price on shares of Waste Management from $223.00 to $213.00 and set a neutral rating on the stock in a report on Friday, July 26th. Robert W. Baird cut their price target on Waste Management from $226.00 to $216.00 and set a neutral rating for the company in a research note on Friday, July 26th. Finally, Truist Financial dropped their price objective on Waste Management from $240.00 to $235.00 and set a buy rating for the company in a report on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of Moderate Buy and an average price target of $215.83.

Waste Management Stock Performance

NYSE WM opened at $208.99 on Tuesday. The stock has a market cap of $83.82 billion, a PE ratio of 34.20, a P/E/G ratio of 2.30 and a beta of 0.74. 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 firm has a 50-day moving average of $206.52 and a 200-day moving average of $208.57. Waste Management has a 52-week low of $152.09 and a 52-week high of $225.00.

Waste Management (NYSE:WM) last issued its quarterly earnings data 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 analysts’ expectations of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.51 earnings per share. On average, sell-side analysts anticipate that Waste Management will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Friday, September 13th. Waste Management’s payout ratio is 49.10%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Waste Management

Hedge funds have recently modified their holdings of the business. Hexagon Capital Partners LLC boosted its holdings in Waste Management by 170.5% in the first quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 75 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Waste Management in the 2nd quarter valued at $31,000. Opal Wealth Advisors LLC acquired a new stake in shares of Waste Management during the first quarter worth $35,000. Fairway Wealth LLC raised its stake in Waste Management by 62.9% during the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock worth $36,000 after buying an additional 66 shares during the last quarter. Finally, Fairscale Capital LLC acquired a new position in Waste Management in the second quarter valued at $39,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

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.