CIBC Boosts Waste Management (NYSE:WM) Price Target to $250.00

Waste Management (NYSE:WM) had its target price hoisted by CIBC from $244.00 to $250.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Other equities analysts have also issued research reports about the company. Melius initiated coverage on Waste Management in a research note on Monday, June 9th. They issued a “buy” rating on the stock. Seaport Res Ptn upgraded Waste Management to a “hold” rating in a research note on Tuesday, May 6th. Wall Street Zen upgraded Waste Management from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Royal Bank Of Canada boosted their price target on Waste Management from $227.00 to $229.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 30th. Finally, BMO Capital Markets boosted their price target on Waste Management from $241.00 to $245.00 and gave the stock a “market perform” rating in a research note on Wednesday. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average target price of $250.71.

Waste Management Stock Performance

WM stock opened at $226.86 on Thursday. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.83 and a quick ratio of 0.79. The business has a 50-day moving average price of $233.08 and a 200 day moving average price of $224.30. The company has a market capitalization of $91.29 billion, a P/E ratio of 34.22, a PEG ratio of 3.02 and a beta of 0.66. Waste Management has a 1-year low of $196.59 and a 1-year high of $242.58.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.08. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.14 billion. Waste Management had a return on equity of 35.67% and a net margin of 11.67%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 earnings per share. As a group, equities research analysts forecast that Waste Management will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, June 6th. Waste Management’s payout ratio is 49.77%.

Insider Transactions at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the transaction, the chief financial officer now directly owns 83,934 shares of the company’s stock, valued at approximately $19,922,574.24. This represents a 40.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the sale, the senior vice president now owns 16,542 shares of the company’s stock, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Large investors have recently added to or reduced their stakes in the stock. Westend Capital Management LLC grew its holdings in Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock valued at $27,000 after buying an additional 66 shares in the last quarter. Transce3nd LLC purchased a new stake in Waste Management in the 4th quarter valued at $28,000. West Branch Capital LLC grew its holdings in Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock valued at $28,000 after buying an additional 49 shares in the last quarter. Halbert Hargrove Global Advisors LLC purchased a new stake in Waste Management in the 4th quarter valued at $33,000. Finally, Hurley Capital LLC purchased a new position in shares of Waste Management during the 4th quarter worth $34,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

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.