Waste Management, Inc. (NYSE:WM) CFO Devina A. Rankin sold 856 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $84.11, for a total value of $71,998.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Waste Management, Inc. (NYSE:WM) traded down $0.29 during trading hours on Tuesday, reaching $84.87. The company’s stock had a trading volume of 2,650,000 shares, compared to its average volume of 2,440,000. The company has a current ratio of 0.80, a quick ratio of 0.77 and a debt-to-equity ratio of 1.45. The stock has a market cap of $36,850.00, a PE ratio of 14.68, a P/E/G ratio of 1.93 and a beta of 0.70. Waste Management, Inc. has a 12 month low of $70.08 and a 12 month high of $89.73.
Waste Management (NYSE:WM) last issued its earnings results on Thursday, February 15th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.02. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Waste Management had a return on equity of 25.48% and a net margin of 13.45%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. analysts predict that Waste Management, Inc. will post 4.04 EPS for the current year.
Waste Management announced that its Board of Directors has initiated a stock buyback plan on Thursday, December 14th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
Several research analysts recently commented on the company. Macquarie raised Waste Management from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 3rd. BMO Capital Markets increased their price objective on Waste Management from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Saturday, February 10th. Raymond James Financial raised Waste Management from a “market perform” rating to an “outperform” rating and set a $95.00 price objective for the company in a research note on Friday. Finally, Stifel Nicolaus upgraded Waste Management from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $95.00 in a report on Monday, December 11th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Waste Management has a consensus rating of “Buy” and a consensus price target of $86.90.
A number of large investors have recently modified their holdings of the business. Lord Abbett & CO. LLC purchased a new position in shares of Waste Management during the 2nd quarter worth $19,445,000. Mutual of America Capital Management LLC grew its holdings in shares of Waste Management by 1.7% during the 3rd quarter. Mutual of America Capital Management LLC now owns 50,624 shares of the business services provider’s stock worth $3,962,000 after purchasing an additional 830 shares during the period. Wendell David Associates Inc. purchased a new position in shares of Waste Management during the 3rd quarter worth $205,000. Tompkins Financial Corp grew its holdings in shares of Waste Management by 2.0% during the 3rd quarter. Tompkins Financial Corp now owns 39,936 shares of the business services provider’s stock worth $3,126,000 after purchasing an additional 771 shares during the period. Finally, Sabal Trust CO purchased a new position in shares of Waste Management during the 3rd quarter worth $203,000. Institutional investors own 75.70% of the company’s stock.
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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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