Waste Management (NYSE:WM) Upgraded by HSBC to Buy Rating

HSBC upgraded shares of Waste Management (NYSE:WM - Free Report) from a hold rating to a buy rating in a research report report published on Friday morning, MarketBeat.com reports. They currently have $265.00 price target on the business services provider's stock, up from their previous price target of $210.00.

Several other equities research analysts have also weighed in on WM. Scotiabank upped their target price on shares of Waste Management from $255.00 to $260.00 and gave the stock a "sector outperform" rating in a report on Tuesday, April 8th. StockNews.com cut Waste Management from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Morgan Stanley boosted 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. Raymond James lifted their price objective on shares of Waste Management from $235.00 to $237.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Finally, William Blair reiterated an "outperform" rating on shares of Waste Management in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued 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 $239.28.

Waste Management Stock Down 0.1 %

Shares of NYSE:WM traded down $0.29 during trading on Friday, reaching $228.79. 2,249,305 shares of the company traded hands, compared to its average volume of 1,650,750. Waste Management has a 1-year low of $196.59 and a 1-year high of $239.32. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. The firm has a market cap of $92.05 billion, a P/E ratio of 33.65, a price-to-earnings-growth ratio of 2.71 and a beta of 0.66. The firm has a fifty day simple moving average of $227.96 and a 200 day simple moving average of $219.90.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. Waste Management had a net margin of 12.45% and a return on equity of 37.93%. The firm had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $6.14 billion. During the same period in the prior year, the company posted $1.75 earnings per share. Waste Management's revenue for the quarter was up 16.7% on a year-over-year basis. Analysts anticipate that Waste Management will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.825 per share. This is an increase from Waste Management's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.30 annualized dividend and a yield of 1.44%. Waste Management's dividend payout ratio is presently 48.53%.

Insiders Place Their Bets

In related news, SVP Johnson Varkey sold 124 shares of Waste Management stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $234.96, for a total transaction of $29,135.04. Following the sale, the senior vice president now directly owns 8,491 shares in the company, valued at approximately $1,995,045.36. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James C. Fish, Jr. sold 44,405 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $228.43, for a total transaction of $10,143,434.15. Following the sale, the chief executive officer now owns 211,061 shares of the company's stock, valued at $48,212,664.23. This trade represents a 17.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,577 shares of company stock valued at $21,662,464. Corporate insiders own 0.18% of the company's stock.

Institutional Trading of Waste Management

A number of institutional investors have recently modified their holdings of the business. Westend Capital Management LLC grew its stake in Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after acquiring an additional 66 shares in the last quarter. West Branch Capital LLC lifted its position in Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after purchasing an additional 49 shares during the last quarter. Global Wealth Strategies & Associates grew its holdings in Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider's stock worth $28,000 after acquiring an additional 125 shares during the last quarter. Transce3nd LLC bought a new position in Waste Management during the 4th quarter valued at approximately $28,000. Finally, General Partner Inc. bought a new position in shares of Waste Management during the fourth quarter valued at approximately $29,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

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.