Waste Management (NYSE:WM) Given New $255.00 Price Target at Scotiabank

Waste Management (NYSE:WM) had its price target boosted by Scotiabank from $250.00 to $255.00 in a research report released on Monday,Benzinga reports. Scotiabank currently has a sector outperform rating on the business services provider’s stock.

Several other analysts also recently commented on the company. Raymond James increased 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. UBS Group raised their price target on Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial raised their price target on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Waste Management from $213.00 to $219.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley raised their price target on Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Friday. Ten 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.50.

Waste Management Stock Performance

Shares of WM opened at $223.89 on Monday. The business’s fifty day simple moving average is $212.19 and its two-hundred day simple moving average 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 has a 12 month low of $187.20 and a 12 month high of $230.39. The company has a market cap of $89.86 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of 2.57 and a beta of 0.78.

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

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued 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 yield of 1.34%. Waste Management’s dividend payout ratio is presently 44.12%.

Insider Buying and Selling at Waste Management

In other news, SVP Johnson Varkey sold 560 shares of Waste Management stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.11, for a total value of $123,261.60. Following the sale, the senior vice president now directly owns 9,152 shares of the company’s stock, valued at approximately $2,014,446.72. The trade was a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles C. Boettcher sold 693 shares of Waste Management stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.59, for a total value of $152,868.87. Following the completion of the sale, the executive vice president now directly owns 45,542 shares in the company, valued at $10,046,109.78. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,653 shares of company stock valued at $364,287 over the last ninety days. 0.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Activest Wealth Management boosted its position in shares of 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 buying an additional 120 shares during the period. Global Wealth Strategies & Associates boosted 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 period. General Partner Inc. purchased a new stake in shares of Waste Management in the fourth quarter valued at approximately $29,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Waste Management in the fourth quarter valued at approximately $35,000. Finally, Richardson Financial Services Inc. boosted its holdings in shares of Waste Management by 65.7% in the fourth quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

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.