Waste Management (NYSE:WM) Lifted to Strong-Buy at StockNews.com

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

A number of other brokerages have also recently issued reports on WM. CIBC reduced their price objective on shares of Waste Management from $223.00 to $213.00 and set a neutral rating on the stock in a research note on Friday, July 26th. Erste Group Bank reaffirmed a hold rating on shares of Waste Management in a research note on Friday, June 14th. Robert W. Baird cut their target price on Waste Management from $226.00 to $216.00 and set a neutral rating on the stock in a research note on Friday, July 26th. Royal Bank of Canada lowered their price target on Waste Management from $215.00 to $204.00 and set a sector perform rating for the company in a research note on Friday, July 26th. Finally, Oppenheimer reduced their price objective on shares of Waste Management from $229.00 to $224.00 and set an outperform rating on the stock in a research note on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Waste Management presently has an average rating of Moderate Buy and a consensus price target of $215.83.

Waste Management Stock Up 0.8 %

NYSE WM opened at $208.99 on Tuesday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. Waste Management has a 52 week low of $152.09 and a 52 week high of $225.00. The stock has a market capitalization of $83.82 billion, a P/E ratio of 34.20, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. The stock has a fifty day moving average of $206.52 and a 200-day moving average of $208.57.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting the consensus estimate of $1.82. The firm 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 company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.51 EPS. On average, equities research analysts forecast that Waste Management will post 7.24 EPS for the current year.

Waste Management Announces Dividend

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

Insider Transactions at Waste Management

In other news, VP Michael J. Watson sold 1,500 shares of the business’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. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Several institutional investors and hedge funds have recently bought and sold shares of WM. ARS Wealth Advisors Group LLC raised its stake in shares of Waste Management by 3.1% during the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after purchasing an additional 47 shares in the last quarter. McClarren Financial Advisors Inc. lifted its stake in Waste Management by 29.7% in the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 49 shares during the last quarter. Mayflower Financial Advisors LLC grew its position in shares of Waste Management by 1.2% in the 1st quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock valued at $911,000 after acquiring an additional 50 shares during the period. Cypress Asset Management Inc. TX raised its holdings in shares of Waste Management by 1.2% in the 1st quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock valued at $907,000 after purchasing an additional 50 shares during the period. Finally, GYL Financial Synergies LLC lifted its stake in Waste Management by 3.8% in the 2nd quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock valued at $290,000 after purchasing an additional 50 shares during 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.