StockNews.com Lowers Waste Management (NYSE:WM) to Buy

StockNews.com lowered shares of Waste Management (NYSE:WMGet Rating) from a strong-buy rating to a buy rating in a research report sent to investors on Monday morning.

WM has been the topic of several other research reports. Raymond James lowered their price target on Waste Management from $173.00 to $170.00 and set an outperform rating on the stock in a report on Tuesday, October 25th. Morgan Stanley lowered their target price on shares of Waste Management from $180.00 to $177.00 and set an equal weight rating on the stock in a research note on Thursday, October 27th. Oppenheimer cut their target price on shares of Waste Management to $169.00 in a research report on Thursday, October 20th. Finally, Jefferies Financial Group raised Waste Management from a hold rating to a buy rating and raised their price target for the company from $170.00 to $191.00 in a research report on Tuesday, October 25th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Waste Management currently has an average rating of Hold and a consensus target price of $170.75.

Waste Management Stock Performance

Shares of NYSE WM opened at $164.01 on Monday. The company has a market capitalization of $67.32 billion, a P/E ratio of 30.49, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.85 and a quick ratio of 0.81. Waste Management has a one year low of $138.58 and a one year high of $175.98. The business’s 50-day moving average price is $161.09 and its two-hundred day moving average price is $160.31.

Waste Management (NYSE:WMGet Rating) last issued its quarterly earnings data on Wednesday, October 26th. The business services provider reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.07. The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.06 billion. Waste Management had a net margin of 11.55% and a return on equity of 32.48%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 earnings per share. Analysts anticipate that Waste Management will post 5.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Thursday, December 1st. Waste Management’s payout ratio is presently 48.33%.

Institutional Trading of Waste Management

A number of hedge funds have recently modified their holdings of the company. Toroso Investments LLC lifted its position in Waste Management by 31.5% in the third quarter. Toroso Investments LLC now owns 9,849 shares of the business services provider’s stock worth $1,578,000 after purchasing an additional 2,362 shares during the period. CVA Family Office LLC lifted its holdings in shares of Waste Management by 184.2% during the 3rd quarter. CVA Family Office LLC now owns 1,890 shares of the business services provider’s stock worth $303,000 after acquiring an additional 1,225 shares during the period. IHT Wealth Management LLC boosted its position in shares of Waste Management by 18.7% during the 3rd quarter. IHT Wealth Management LLC now owns 4,962 shares of the business services provider’s stock valued at $795,000 after acquiring an additional 782 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Waste Management by 160.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 39,774 shares of the business services provider’s stock valued at $6,373,000 after acquiring an additional 24,521 shares during the period. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in Waste Management in the third quarter worth about $5,707,000. Institutional investors own 74.74% of the company’s stock.

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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