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

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

WM has been the subject of a number of other reports. Royal Bank of Canada lifted their price target on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Scotiabank initiated coverage on shares of Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets boosted their target price 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. Finally, UBS Group upped 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. Ten 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.72.

Waste Management Price Performance

WM stock opened at $208.92 on Tuesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. Waste Management has a 52 week low of $175.01 and a 52 week high of $230.39. The firm’s fifty day moving average is $217.79 and its 200 day moving average is $211.51. The firm has a market cap of $83.85 billion, a P/E ratio of 31.95, a P/E/G ratio of 2.36 and a beta of 0.75.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 28th. The business services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the company posted $1.63 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Research analysts predict that Waste Management will post 7.32 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Friday, December 6th. Waste Management’s payout ratio is presently 45.87%.

Insider Buying and Selling

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $215.47, for a total transaction of $66,795.70. Following the sale, the director now owns 3,875 shares of the company’s stock, valued at $834,946.25. The trade was a 7.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WM. Rockland Trust Co. boosted its position in shares of Waste Management by 5.7% during the 2nd quarter. Rockland Trust Co. now owns 1,848 shares of the business services provider’s stock valued at $394,000 after acquiring an additional 100 shares during the last quarter. Moss Adams Wealth Advisors LLC purchased a new stake in Waste Management in the 2nd quarter valued at about $217,000. GYL Financial Synergies LLC raised its holdings in Waste Management by 3.8% in the 2nd quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock valued at $290,000 after buying an additional 50 shares during the period. &PARTNERS raised its holdings in Waste Management by 437.1% in the 2nd quarter. &PARTNERS now owns 11,129 shares of the business services provider’s stock valued at $2,363,000 after buying an additional 9,057 shares during the period. Finally, Cornerstone Wealth Group LLC purchased a new stake in Waste Management in the 2nd quarter valued at about $221,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Company Profile

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.