Brokerages Set Waste Management, Inc. (NYSE:WM) Target Price at $113.25

Shares of Waste Management, Inc. (NYSE:WM) have been assigned a consensus rating of “Buy” from the eleven research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $113.25.

Several analysts recently weighed in on the stock. Oppenheimer boosted their price objective on shares of Waste Management from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. KeyCorp boosted their price objective on shares of Waste Management from $112.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. UBS Group cut shares of Waste Management from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $103.00 to $106.00 in a research note on Thursday, April 4th. Stifel Nicolaus boosted their price objective on shares of Waste Management from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Finally, Royal Bank of Canada raised shares of Waste Management from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $113.00 to $125.00 in a research note on Monday, June 3rd.

In other news, VP Michael J. Watson sold 700 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $104.55, for a total transaction of $73,185.00. Following the transaction, the vice president now owns 9,518 shares in the company, valued at $995,106.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John J. Morris sold 42,795 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $106.38, for a total transaction of $4,552,532.10. Following the transaction, the executive vice president now owns 101,332 shares in the company, valued at approximately $10,779,698.16. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in WM. Advisors Asset Management Inc. lifted its position in shares of Waste Management by 85.0% during the 4th quarter. Advisors Asset Management Inc. now owns 26,163 shares of the business services provider’s stock worth $2,328,000 after purchasing an additional 12,022 shares during the last quarter. Buckingham Capital Management Inc. lifted its position in shares of Waste Management by 13.5% during the 4th quarter. Buckingham Capital Management Inc. now owns 23,641 shares of the business services provider’s stock worth $2,104,000 after purchasing an additional 2,805 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Waste Management by 7.8% during the 4th quarter. Victory Capital Management Inc. now owns 75,010 shares of the business services provider’s stock worth $6,675,000 after purchasing an additional 5,406 shares during the last quarter. Dean Capital Investments Management LLC lifted its position in shares of Waste Management by 151.6% during the 4th quarter. Dean Capital Investments Management LLC now owns 15,593 shares of the business services provider’s stock worth $1,388,000 after purchasing an additional 9,396 shares during the last quarter. Finally, Quadrant Capital Management LLC acquired a new position in shares of Waste Management during the 4th quarter worth about $1,535,000. Hedge funds and other institutional investors own 73.55% of the company’s stock.

Shares of NYSE WM traded down $0.47 during midday trading on Tuesday, reaching $115.37. 2,462,488 shares of the company were exchanged, compared to its average volume of 1,742,448. The company’s 50-day moving average price is $111.47. The stock has a market capitalization of $49.00 billion, a PE ratio of 27.27, a P/E/G ratio of 3.13 and a beta of 0.62. Waste Management has a one year low of $80.73 and a one year high of $117.34. The company has a current ratio of 0.69, a quick ratio of 0.66 and a debt-to-equity ratio of 1.45.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.03. Waste Management had a net margin of 12.43% and a return on equity of 29.12%. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Waste Management’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts forecast that Waste Management will post 4.3 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a $0.5125 dividend. The ex-dividend date was Thursday, June 6th. This represents a $2.05 annualized dividend and a yield of 1.78%. Waste Management’s payout ratio is 48.81%.

About Waste Management

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Analyst Recommendations for Waste Management (NYSE:WM)

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