Citigroup Issues Positive Forecast for Waste Management (NYSE:WM) Stock Price

Waste Management (NYSE:WM) had its target price increased by Citigroup from $242.00 to $255.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

Several other equities research analysts have also recently issued reports on WM. CIBC raised their price target on shares of Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a research note on Friday. Jefferies Financial Group decreased their price target on shares of Waste Management from $255.00 to $238.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Royal Bank of Canada raised their price target on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer raised their price target on shares of Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average target price of $234.50.

Waste Management Price Performance

Shares of NYSE WM opened at $223.89 on Monday. The stock has a market cap of $89.86 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 2.57 and a beta of 0.78. Waste Management has a 52 week low of $187.20 and a 52 week high of $230.39. The company’s 50-day moving average price is $212.19 and its 200 day moving average price is $211.24. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. As a group, research analysts forecast that Waste Management will post 7.92 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.34%. Waste Management’s dividend payout ratio is currently 44.12%.

Insider Activity

In other news, EVP Charles C. Boettcher sold 693 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.59, for a total transaction of $152,868.87. Following the completion of the sale, the executive vice president now owns 45,542 shares of the company’s stock, valued at approximately $10,046,109.78. This trade represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Johnson Varkey sold 560 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.11, for a total transaction of $123,261.60. Following the sale, the senior vice president now directly owns 9,152 shares of the company’s stock, valued at $2,014,446.72. The trade was a 5.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,653 shares of company stock worth $364,287 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

A number of hedge funds have recently made changes to their positions in WM. Aberdeen Wealth Management LLC boosted its holdings in Waste Management by 1.1% in the third quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after purchasing an additional 45 shares during the period. Signature Estate & Investment Advisors LLC boosted its holdings in Waste Management by 3.9% in the third quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after purchasing an additional 46 shares during the period. Catalyst Financial Partners LLC boosted its holdings in Waste Management by 2.4% in the fourth quarter. Catalyst Financial Partners LLC now owns 2,039 shares of the business services provider’s stock worth $411,000 after purchasing an additional 48 shares during the period. Benchmark Financial Wealth Advisors LLC boosted its holdings in Waste Management by 1.9% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock worth $546,000 after purchasing an additional 49 shares during the period. Finally, Balboa Wealth Partners lifted its stake in Waste Management by 4.1% in the third quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock valued at $256,000 after buying an additional 49 shares during the last quarter. Institutional investors and hedge funds 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.