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

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

WM has been the subject of a number of other research reports. Robert W. Baird lowered their target price on shares of Waste Management from $226.00 to $216.00 and set a neutral rating for the company in a research note on Friday, July 26th. StockNews.com raised shares of Waste Management from a buy rating to a strong-buy rating in a research note on Tuesday, October 1st. Oppenheimer lowered their target price on shares of Waste Management from $229.00 to $224.00 and set an outperform rating for the company in a research note on Friday, July 26th. CIBC decreased their price target on shares of Waste Management from $223.00 to $213.00 and set a neutral rating for the company in a research note on Friday, July 26th. Finally, Truist Financial decreased their price target on shares of Waste Management from $240.00 to $235.00 and set a buy rating for the company in a research note on Thursday, July 11th. Twelve analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Waste Management has a consensus rating of Moderate Buy and a consensus price target of $218.89.

Waste Management Price Performance

Shares of NYSE:WM opened at $208.09 on Thursday. The firm has a market cap of $83.51 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 2.32 and a beta of 0.74. The firm’s fifty day moving average is $206.74 and its 200-day moving average is $208.52. 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 $152.90 and a 52 week high of $225.00.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the firm earned $1.51 earnings per share. Waste Management’s quarterly revenue was up 5.5% on a year-over-year basis. 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 disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.75 per share. 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 dividend payout ratio is currently 49.10%.

Insider Activity

In related news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the transaction, the vice president now directly owns 44,144 shares in the company, valued at approximately $9,711,680. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WM. Hexagon Capital Partners LLC boosted its stake 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. purchased a new position in Waste Management in the second quarter valued at about $31,000. Opal Wealth Advisors LLC purchased a new position in Waste Management in the first quarter valued at about $35,000. Fairway Wealth LLC boosted its stake in Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 66 shares during the last quarter. Finally, Fairscale Capital LLC purchased a new position in Waste Management in the second quarter valued at about $39,000. 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.