Waste Management (NYSE:WM) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Waste Management (NYSE:WM - Free Report) from a buy rating to a strong-buy rating in a report released on Wednesday.

A number of other research firms have also recently weighed in on WM. BMO Capital Markets increased their price target on Waste Management from $213.00 to $220.00 and gave the company a "market perform" rating in a research note on Wednesday, October 30th. Truist Financial lifted their target price on shares of Waste Management from $235.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Oppenheimer increased their price target on shares of Waste Management from $230.00 to $231.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on Waste Management from $213.00 to $219.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their price target on Waste Management from $204.00 to $220.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Waste Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $230.72.

Waste Management Stock Performance

WM stock traded up $1.58 during trading hours on Wednesday, reaching $205.38. The stock had a trading volume of 711,469 shares, compared to its average volume of 1,629,076. The stock has a 50-day simple moving average of $217.05 and a 200 day simple moving average of $211.61. Waste Management has a fifty-two week low of $175.74 and a fifty-two week high of $230.39. The stock has a market capitalization of $82.43 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 2.36 and a beta of 0.75. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.07. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. Waste Management's revenue was up 7.9% on a year-over-year basis. During the same period last year, the business posted $1.63 EPS. Analysts predict that Waste Management will post 7.32 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.75 dividend. The ex-dividend date was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.46%. Waste Management's payout ratio is currently 45.87%.

Insider Buying and Selling

In other news, Director Maryrose Sylvester sold 310 shares of the company's stock in a transaction that occurred 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 transaction, the director now owns 3,875 shares of the company's stock, valued at $834,946.25. This 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 hyperlink. 0.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WM. Activest Wealth Management boosted its stake in shares of Waste Management by 4,000.0% in the 3rd 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 during the last quarter. Fairway Wealth LLC lifted its holdings in Waste Management by 62.9% in the second quarter. Fairway Wealth LLC now owns 171 shares of the business services provider's stock valued at $36,000 after buying an additional 66 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Waste Management during the 2nd quarter worth about $36,000. Fairscale Capital LLC bought a new position in shares of Waste Management in the 2nd quarter worth about $39,000. Finally, DHJJ Financial Advisors Ltd. lifted its stake in shares of Waste Management by 51.8% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 211 shares of the business services provider's stock valued at $44,000 after purchasing an additional 72 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

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.