Waste Management (NYSE:WM) Earns Outperform Rating from Analysts at William Blair

William Blair started coverage on shares of Waste Management (NYSE:WM) in a report published on Thursday morning, Marketbeat reports. The brokerage issued an outperform rating on the business services provider’s stock.

Several other research firms have also issued reports on WM. Royal Bank of Canada lowered their price target on shares of Waste Management from $215.00 to $204.00 and set a sector perform rating on the stock in a research report on Friday, July 26th. Robert W. Baird decreased their target price on shares of Waste Management from $226.00 to $216.00 and set a neutral rating on the stock in a report on Friday, July 26th. Erste Group Bank reaffirmed a hold rating on shares of Waste Management in a report on Friday, June 14th. Truist Financial decreased their target price on shares of Waste Management from $240.00 to $235.00 and set a buy rating on the stock in a report on Thursday, July 11th. Finally, The Goldman Sachs Group raised shares of Waste Management to a strong-buy rating in a report on Friday, July 26th. Twelve equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Waste Management presently has a consensus rating of Moderate Buy and a consensus target price of $218.89.

Waste Management Stock Performance

NYSE WM opened at $208.09 on Thursday. The company’s 50 day moving average is $206.74 and its 200-day moving average is $208.52. Waste Management has a 12-month low of $152.90 and a 12-month high of $225.00. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. The firm has a market cap of $83.51 billion, a P/E ratio of 34.06, a price-to-earnings-growth ratio of 2.32 and a beta of 0.74.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the firm posted $1.51 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Waste Management will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio is currently 49.10%.

Insider Activity at Waste Management

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

Institutional Investors Weigh In On Waste Management

A number of large investors have recently added to or reduced their stakes in the company. Sustainable Growth Advisers LP bought a new stake in shares of Waste Management during the 1st quarter valued at about $300,594,000. Capital World Investors boosted its stake in shares of Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after purchasing an additional 1,303,466 shares in the last quarter. Swedbank AB bought a new stake in shares of Waste Management during the 1st quarter valued at about $193,955,000. Wulff Hansen & CO. boosted its stake in shares of Waste Management by 20,402.6% during the 2nd quarter. Wulff Hansen & CO. now owns 868,080 shares of the business services provider’s stock valued at $185,196,000 after purchasing an additional 863,846 shares in the last quarter. Finally, AMF Tjanstepension AB boosted its stake in shares of Waste Management by 85.6% during the 2nd quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after purchasing an additional 720,358 shares in the last quarter. Institutional investors 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.