Bank of America upgraded shares of Waste Management (NYSE:WM – Get Rating) from an underperform rating to a neutral rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. They currently have $165.00 price target on the business services provider’s stock, up from their prior price target of $155.00.
A number of other research firms have also recently issued reports on WM. BMO Capital Markets cut shares of Waste Management from an outperform rating to a market perform rating and set a $174.00 price objective for the company. in a research report on Tuesday, April 12th. JPMorgan Chase & Co. initiated coverage on shares of Waste Management in a research report on Tuesday, March 1st. They set a neutral rating and a $153.00 price objective for the company. StockNews.com upgraded shares of Waste Management from a buy rating to a strong-buy rating in a research report on Thursday, April 28th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Waste Management from $157.00 to $167.00 in a research report on Thursday, April 28th. Finally, Raymond James boosted their target price on shares of Waste Management from $167.00 to $170.00 and gave the stock an outperform rating in a report on Friday, April 22nd. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $161.57.
Shares of NYSE:WM traded up $2.42 during midday trading on Friday, hitting $157.90. The stock had a trading volume of 2,052,547 shares, compared to its average volume of 1,857,460. The company’s 50-day moving average price is $158.44 and its 200-day moving average price is $157.23. The company has a market capitalization of $65.56 billion, a P/E ratio of 34.78, a price-to-earnings-growth ratio of 2.76 and a beta of 0.79. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.83. Waste Management has a fifty-two week low of $136.97 and a fifty-two week high of $170.18.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 17th. Shareholders of record on Friday, June 3rd will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Thursday, June 2nd. Waste Management’s payout ratio is 57.27%.
In other news, EVP John J. Morris sold 47,006 shares of the company’s stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $168.10, for a total value of $7,901,708.60. Following the sale, the executive vice president now directly owns 95,461 shares of the company’s stock, valued at approximately $16,046,994.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Leslie K. Nagy sold 2,668 shares of the company’s stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $169.72, for a total transaction of $452,812.96. Following the completion of the sale, the chief accounting officer now directly owns 4,880 shares in the company, valued at $828,233.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,013 shares of company stock worth $16,222,631. Insiders own 0.18% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Financial Group LLC bought a new position in Waste Management during the fourth quarter worth $25,000. CarsonAllaria Wealth Management Ltd. bought a new position in Waste Management during the fourth quarter worth $25,000. D Orazio & Associates Inc. lifted its stake in shares of Waste Management by 52.1% in the third quarter. D Orazio & Associates Inc. now owns 184 shares of the business services provider’s stock valued at $27,000 after buying an additional 63 shares in the last quarter. Bell Investment Advisors Inc bought a new position in shares of Waste Management in the third quarter valued at $27,000. Finally, Amplius Wealth Advisors LLC bought a new position in shares of Waste Management in the fourth quarter valued at $27,000. 80.37% of the stock is currently owned by institutional investors and hedge funds.
About Waste Management (Get Rating)
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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