Waste Management (NYSE:WM) Price Target Raised to $247.00 at CIBC

Waste Management (NYSE:WM) had its target price hoisted by CIBC from $227.00 to $247.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

WM has been the topic of several other research reports. Morgan Stanley boosted their price target on shares of Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Raymond James boosted their target price on shares of Waste Management from $235.00 to $237.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. StockNews.com downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Oppenheimer boosted their price objective on Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, Stifel Nicolaus lifted their target price on Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and a consensus price target of $236.65.

Waste Management Stock Performance

WM opened at $230.55 on Wednesday. The stock has a market capitalization of $92.71 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.71 and a beta of 0.78. Waste Management has a fifty-two week low of $196.59 and a fifty-two week high of $235.81. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.85 and a current ratio of 0.76. The company has a fifty day moving average of $217.30 and a 200 day moving average of $214.49.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. As a group, sell-side analysts forecast that Waste Management will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.825 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.43%. Waste Management’s dividend payout ratio (DPR) is 48.53%.

Insider Activity at Waste Management

In other news, SVP Tara J. Hemmer sold 4,576 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $222.12, for a total value of $1,016,421.12. Following the completion of the sale, the senior vice president now owns 58,765 shares of the company’s stock, valued at approximately $13,052,881.80. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles C. Boettcher sold 693 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.59, for a total transaction of $152,868.87. Following the completion of the transaction, the executive vice president now directly owns 45,542 shares of the company’s stock, valued at $10,046,109.78. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,173 shares of company stock worth $17,075,967. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Activest Wealth Management boosted its position in Waste Management by 4,000.0% during the third quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 120 shares in the last quarter. Global Wealth Strategies & Associates lifted its position in shares of Waste Management by 892.9% during the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after buying an additional 125 shares during the last quarter. Transce3nd LLC bought a new stake in shares of Waste Management in the 4th quarter valued at about $28,000. General Partner Inc. purchased a new position in shares of Waste Management in the 4th quarter worth approximately $29,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in Waste Management during the fourth quarter valued at approximately $33,000. Institutional investors 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.