Waste Management, Inc. (WM) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Waste Management, Inc. (NYSE:WM) have earned a consensus rating of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $103.00.

A number of equities analysts have issued reports on the company. UBS Group lowered Waste Management from a “buy” rating to a “neutral” rating and upped their target price for the company from $103.00 to $106.00 in a research report on Thursday, April 4th. Stifel Nicolaus lowered Waste Management from a “buy” rating to a “hold” rating and set a $103.00 target price on the stock. in a research report on Thursday. Oppenheimer upped their target price on Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, February 15th. KeyCorp assumed coverage on Waste Management in a research report on Monday, February 4th. They issued an “overweight” rating and a $96.00 target price on the stock. Finally, Zacks Investment Research lowered Waste Management from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th.

In related news, CFO Devina A. Rankin sold 692 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $98.80, for a total transaction of $68,369.60. Following the completion of the transaction, the chief financial officer now directly owns 22,128 shares in the company, valued at approximately $2,186,246.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Tara J. Hmmer sold 472 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $98.81, for a total value of $46,638.32. Following the transaction, the senior vice president now owns 17,208 shares of the company’s stock, valued at $1,700,322.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,092 shares of company stock worth $402,648. Corporate insiders own 0.30% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of WM. CHICAGO TRUST Co NA lifted its holdings in shares of Waste Management by 1.5% during the first quarter. CHICAGO TRUST Co NA now owns 6,933 shares of the business services provider’s stock valued at $720,000 after purchasing an additional 100 shares during the last quarter. RB Capital Management LLC lifted its holdings in shares of Waste Management by 4.2% during the fourth quarter. RB Capital Management LLC now owns 2,746 shares of the business services provider’s stock valued at $244,000 after purchasing an additional 110 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Waste Management by 36.1% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 415 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 110 shares during the last quarter. Winch Advisory Services LLC lifted its holdings in shares of Waste Management by 17.3% during the fourth quarter. Winch Advisory Services LLC now owns 772 shares of the business services provider’s stock valued at $69,000 after purchasing an additional 114 shares during the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in shares of Waste Management by 0.7% during the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 15,687 shares of the business services provider’s stock valued at $1,396,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 75.74% of the company’s stock.

Shares of WM traded down $2.53 during trading on Thursday, reaching $100.40. The company’s stock had a trading volume of 133,186 shares, compared to its average volume of 1,724,686. Waste Management has a twelve month low of $79.96 and a twelve month high of $104.80. The firm has a market cap of $43.71 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.66 and a beta of 0.67. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 1.53.

Waste Management (NYSE:WM) last announced its earnings results on Thursday, February 14th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.07. Waste Management had a return on equity of 29.43% and a net margin of 12.91%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the company posted $0.85 EPS. Waste Management’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts expect that Waste Management will post 4.37 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $0.5125 per share. This is a positive change from Waste Management’s previous quarterly dividend of $0.47. This represents a $2.05 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Thursday, March 7th. Waste Management’s dividend payout ratio is currently 48.81%.

Waste Management announced that its board has initiated a stock buyback plan on Thursday, December 13th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the business services provider to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

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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Analyst Recommendations for Waste Management (NYSE:WM)

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