Waste Management (NYSE:WM) Sets New 52-Week High – Here’s Why

Waste Management, Inc. (NYSE:WM)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $226.92 and last traded at $226.89, with a volume of 669288 shares trading hands. The stock had previously closed at $224.41.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Scotiabank started coverage on Waste Management in a report on Friday, October 4th. They issued a “sector perform” rating and a $220.00 target price for the company. Argus boosted their target price on shares of Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their price target on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their target price on Waste Management from $214.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Truist Financial raised their price objective on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average price target of $226.11.

Waste Management Price Performance

The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The business’s 50-day moving average is $214.21 and its two-hundred day moving average is $210.45. The company has a market capitalization of $91.71 billion, a P/E ratio of 34.94, a price-to-earnings-growth ratio of 2.37 and a beta of 0.74.

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. The firm 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 company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 EPS. As a group, analysts predict that Waste Management, Inc. will post 7.32 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 1.31%. Waste Management’s dividend payout ratio (DPR) is presently 45.87%.

Insider Transactions at Waste Management

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the completion of the sale, the director now directly owns 3,875 shares of the company’s stock, valued at $834,946.25. This trade represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WM. Price T Rowe Associates Inc. MD raised its stake in shares of Waste Management by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 532,819 shares of the business services provider’s stock valued at $113,571,000 after purchasing an additional 18,429 shares during the period. Bayesian Capital Management LP bought a new position in shares of Waste Management in the first quarter valued at approximately $894,000. Ancora Advisors LLC grew its stake in Waste Management by 1.8% during the first quarter. Ancora Advisors LLC now owns 10,721 shares of the business services provider’s stock valued at $2,285,000 after acquiring an additional 186 shares in the last quarter. iA Global Asset Management Inc. lifted its stake in Waste Management by 1.7% in the 1st quarter. iA Global Asset Management Inc. now owns 47,288 shares of the business services provider’s stock worth $10,079,000 after purchasing an additional 785 shares in the last quarter. Finally, WealthPlan Investment Management LLC bought a new position in Waste Management in the 1st quarter valued at $213,000. 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.