Waste Management (NYSE:WM) Downgraded to “Buy” Rating by StockNews.com

StockNews.com cut shares of Waste Management (NYSE:WM) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

A number of other equities research analysts also recently commented on WM. BMO Capital Markets increased their price objective on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. UBS Group raised their target price on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price objective on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price objective on Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $226.11.

Waste Management Stock Performance

Shares of WM stock opened at $218.31 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The firm’s 50 day moving average price is $211.80 and its 200-day moving average price is $209.78. Waste Management has a one year low of $168.73 and a one year high of $226.84. The firm has a market cap of $87.62 billion, a P/E ratio of 33.38, a P/E/G ratio of 2.30 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.63 earnings per share. As a group, equities research analysts predict that Waste Management will post 7.3 EPS for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s dividend payout ratio is currently 45.87%.

Insider Transactions at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares in the company, valued at approximately $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Waste Management

A number of hedge funds have recently made changes to their positions in WM. Aberdeen Wealth Management LLC grew its holdings in Waste Management by 1.1% during the 3rd quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after acquiring an additional 45 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its holdings in Waste Management by 3.9% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after buying an additional 46 shares in the last quarter. ARS Wealth Advisors Group LLC increased its holdings in shares of Waste Management by 3.1% during the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after purchasing an additional 47 shares during the period. Benchmark Financial Wealth Advisors LLC raised its holdings in Waste Management by 1.9% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock worth $546,000 after purchasing an additional 49 shares in the last quarter. Finally, Balboa Wealth Partners lifted its holdings in Waste Management by 4.1% in the 3rd quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock valued at $256,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.