CIBC Forecasts Strong Price Appreciation for Waste Management (NYSE:WM) Stock

Waste Management (NYSE:WM - Free Report) had its price objective lifted by CIBC from $227.00 to $247.00 in a research report report published on Wednesday,Benzinga reports. CIBC currently has a neutral rating on the business services provider's stock.

A number of other analysts also recently weighed in on the company. Stifel Nicolaus increased their price target on Waste Management from $243.00 to $252.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Jefferies Financial Group reduced their target price on Waste Management from $255.00 to $238.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. StockNews.com downgraded Waste Management from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Morgan Stanley raised their target price on Waste Management from $227.00 to $235.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Finally, Raymond James raised their target price on Waste Management from $235.00 to $237.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $236.65.

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Waste Management Trading Up 1.6 %

NYSE:WM traded up $3.55 during trading hours on Wednesday, hitting $229.51. 1,906,115 shares of the company were exchanged, compared to its average volume of 1,524,248. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 2.73. The company has a fifty day simple moving average of $218.22 and a 200 day simple moving average of $214.73. Waste Management has a one year low of $196.59 and a one year high of $235.81. The stock has a market capitalization of $92.29 billion, a price-to-earnings ratio of 33.75, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75.

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

Waste Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 represents a $3.30 annualized dividend and a dividend yield of 1.44%. This is a boost from Waste Management's previous quarterly dividend of $0.75. Waste Management's dividend payout ratio (DPR) is currently 48.53%.

Insiders Place Their Bets

In related news, SVP Johnson Varkey sold 124 shares of Waste Management stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $234.96, for a total value of $29,135.04. Following the sale, the senior vice president now owns 8,491 shares of the company's stock, valued at approximately $1,995,045.36. The trade was a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO John A. Carroll sold 209 shares of Waste Management stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.55, for a total transaction of $46,094.95. Following the completion of the sale, the chief accounting officer now directly owns 9,066 shares in the company, valued at $1,999,506.30. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,173 shares of company stock valued at $17,075,967 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Waste Management

A number of hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in Waste Management in the 4th quarter valued at approximately $1,009,726,000. Raymond James Financial Inc. purchased a new position in Waste Management in the 4th quarter valued at approximately $340,611,000. Capital Research Global Investors grew its stake in Waste Management by 250.1% in the 4th quarter. Capital Research Global Investors now owns 1,658,733 shares of the business services provider's stock valued at $334,716,000 after buying an additional 1,184,905 shares in the last quarter. Parnassus Investments LLC grew its stake in Waste Management by 22.5% in the 4th quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider's stock valued at $1,265,629,000 after buying an additional 1,151,237 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC purchased a new position in Waste Management in the 4th quarter valued at approximately $205,506,000. 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.