Waste Management, Inc. Plans Dividend of $0.51 (NYSE:WM)

Waste Management, Inc. (NYSE:WM) declared a dividend on Monday, August 19th, NASDAQ reports. Stockholders of record on Friday, September 6th will be paid a dividend of 0.512 per share by the business services provider on Friday, September 20th. The ex-dividend date of this dividend is Thursday, September 5th.

Waste Management has increased its dividend payment by an average of 6.5% annually over the last three years and has increased its dividend every year for the last 15 years. Waste Management has a payout ratio of 50.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Waste Management to earn $4.70 per share next year, which means the company should continue to be able to cover its $2.05 annual dividend with an expected future payout ratio of 43.6%.

Shares of WM opened at $118.11 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 1.70 and a debt-to-equity ratio of 1.95. Waste Management has a 12-month low of $83.22 and a 12-month high of $120.58. The firm has a market capitalization of $50.53 billion, a PE ratio of 28.12, a price-to-earnings-growth ratio of 3.22 and a beta of 0.62. The stock’s fifty day simple moving average is $117.52 and its 200-day simple moving average is $108.29.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.04. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the firm posted $1.01 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts anticipate that Waste Management will post 4.33 EPS for the current year.

Several equities analysts have recently issued reports on the company. KeyCorp upped their price target on Waste Management from $112.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. Royal Bank of Canada set a $126.00 price target on Waste Management and gave the company a “buy” rating in a research note on Friday, July 26th. Stifel Nicolaus upped their price target on Waste Management from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Argus upped their price target on Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Raymond James set a $127.00 price objective on Waste Management and gave the company a “buy” rating in a report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Waste Management presently has an average rating of “Buy” and an average price target of $113.91.

In related news, Director Patrick W. Gross sold 289 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total value of $34,278.29. Following the completion of the sale, the director now owns 53,378 shares in the company, valued at $6,331,164.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James C. Fish, Jr. sold 84,314 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $116.51, for a total value of $9,823,424.14. Following the completion of the sale, the chief executive officer now owns 282,921 shares of the company’s stock, valued at approximately $32,963,125.71. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Waste Management Company Profile

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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Dividend History for Waste Management (NYSE:WM)

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