Waste Management’s (WM) Buy (B) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their buy (b) rating on shares of Waste Management (NYSE:WM) in a research note published on Wednesday,Weiss Ratings reports.

WM has been the subject of a number of other reports. Scotiabank increased their target price on Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 31st. BMO Capital Markets increased their target price on Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 30th. Oppenheimer cut their target price on Waste Management from $265.00 to $262.00 and set an “outperform” rating for the company in a research note on Wednesday. Barclays started coverage on Waste Management in a research note on Friday, September 19th. They set an “overweight” rating and a $272.00 target price for the company. Finally, Erste Group Bank downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $254.32.

Waste Management Stock Up 0.7%

WM opened at $219.09 on Wednesday. The business has a 50 day moving average price of $223.04 and a two-hundred day moving average price of $227.98. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The company has a market cap of $88.26 billion, a PE ratio of 32.51, a P/E/G ratio of 2.68 and a beta of 0.64. Waste Management has a 52 week low of $199.69 and a 52 week high of $242.58.

Waste Management (NYSE:WM) last issued its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Waste Management will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, September 12th. Waste Management’s dividend payout ratio is 48.96%.

Institutional Investors Weigh In On Waste Management

Large investors have recently bought and sold shares of the stock. Zevenbergen Capital Investments LLC grew its holdings in Waste Management by 30.4% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider’s stock valued at $2,158,000 after buying an additional 2,200 shares during the last quarter. Brighton Jones LLC grew its holdings in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after buying an additional 2,320 shares during the last quarter. Empowered Funds LLC grew its holdings in Waste Management by 82.9% during the 1st quarter. Empowered Funds LLC now owns 22,670 shares of the business services provider’s stock valued at $5,248,000 after buying an additional 10,272 shares during the last quarter. BROOKFIELD Corp ON grew its holdings in Waste Management by 25.1% during the 1st quarter. BROOKFIELD Corp ON now owns 20,135 shares of the business services provider’s stock valued at $4,661,000 after buying an additional 4,043 shares during the last quarter. Finally, Czech National Bank grew its holdings in Waste Management by 6.7% during the 2nd quarter. Czech National Bank now owns 89,510 shares of the business services provider’s stock valued at $20,482,000 after buying an additional 5,620 shares during the last quarter. Institutional investors and hedge funds 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.