BMO Capital Markets Trims Waste Management (NYSE:WM) Target Price to $213.00

Waste Management (NYSE:WM) had its price objective reduced by BMO Capital Markets from $215.00 to $213.00 in a research note issued to investors on Friday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the business services provider’s stock.

Several other equities research analysts have also issued reports on WM. TD Cowen lifted their price target on Waste Management from $220.00 to $235.00 and gave the stock a buy rating in a research note on Monday, April 29th. CIBC dropped their target price on Waste Management from $223.00 to $213.00 and set a neutral rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Waste Management in a report on Wednesday, May 22nd. They set a buy rating and a $241.00 price target for the company. Erste Group Bank restated a hold rating on shares of Waste Management in a report on Friday, June 14th. Finally, Royal Bank of Canada decreased their price target on shares of Waste Management from $215.00 to $204.00 and set a sector perform rating for the company in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $215.83.

Waste Management Stock Up 1.8 %

Waste Management stock opened at $200.54 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. Waste Management has a 12-month low of $149.71 and a 12-month high of $225.00. The firm’s fifty day moving average is $209.35 and its 200 day moving average is $205.19. The company has a market capitalization of $80.48 billion, a PE ratio of 32.82, a PEG ratio of 2.16 and a beta of 0.74.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting the consensus estimate of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the firm posted $1.51 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts predict that Waste Management will post 7.31 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Friday, June 7th. Waste Management’s dividend payout ratio is 49.10%.

Insider Buying and Selling

In related news, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the transaction, the vice president now directly owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the transaction, the vice president now directly owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. ARS Wealth Advisors Group LLC lifted its holdings in shares of Waste Management by 3.1% in the 2nd quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after buying an additional 47 shares during the period. McClarren Financial Advisors Inc. boosted its stake in Waste Management by 29.7% during the first quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after buying an additional 49 shares during the period. Mayflower Financial Advisors LLC boosted its holdings in Waste Management by 1.2% during the 1st quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock valued at $911,000 after acquiring an additional 50 shares during the period. Cypress Asset Management Inc. TX grew its stake in Waste Management by 1.2% during the 1st quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock worth $907,000 after purchasing an additional 50 shares in the last quarter. Finally, GYL Financial Synergies LLC increased its holdings in Waste Management by 3.8% in the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock valued at $290,000 after buying an additional 50 shares during the last quarter. 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.