Waste Management, Inc. (NYSE:WM) has been given a consensus recommendation of “Buy” by the ten analysts that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $85.25.
Several analysts have recently issued reports on WM shares. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research report on Tuesday, December 26th. Stifel Nicolaus raised shares of Waste Management from a “hold” rating to a “buy” rating and increased their price target for the stock from $80.00 to $95.00 in a research report on Monday, December 11th. KeyCorp increased their price target on shares of Waste Management from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 13th. Macquarie raised shares of Waste Management from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 3rd. Finally, Bank of America reduced their price target on shares of Waste Management from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th.
In related news, SVP Barry H. Caldwell sold 1,650 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $81.10, for a total value of $133,815.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Patrick W. Gross sold 387 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $88.30, for a total transaction of $34,172.10. Following the completion of the sale, the director now directly owns 30,673 shares in the company, valued at approximately $2,708,425.90. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of WM. FTB Advisors Inc. raised its holdings in Waste Management by 4.3% during the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock worth $116,000 after purchasing an additional 65 shares in the last quarter. Atlantic Trust LLC raised its holdings in Waste Management by 7.6% during the second quarter. Atlantic Trust LLC now owns 3,820 shares of the business services provider’s stock worth $172,000 after purchasing an additional 270 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new stake in Waste Management during the second quarter worth approximately $182,000. Horan Capital Advisors LLC. acquired a new stake in Waste Management during the third quarter worth approximately $186,000. Finally, Capital Guardian Trust Co. acquired a new stake in Waste Management during the third quarter worth approximately $193,000. 74.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Waste Management (WM) traded up $0.10 during mid-day trading on Tuesday, reaching $88.06. 2,069,163 shares of the company’s stock traded hands, compared to its average volume of 1,710,000. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $38,240.00, a price-to-earnings ratio of 28.32, a PEG ratio of 2.66 and a beta of 0.75. Waste Management has a one year low of $69.00 and a one year high of $88.73.
Waste Management (NYSE:WM) last announced its earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.02. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.71 billion. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. Waste Management’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 earnings per share. sell-side analysts anticipate that Waste Management will post 3.2 EPS for the current fiscal year.
Waste Management announced that its Board of Directors has initiated a stock buyback program on Thursday, December 14th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
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About Waste Management
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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