Waste Management, Inc. (NYSE:WM) Receives Consensus Rating of “Moderate Buy” from Analysts

Waste Management, Inc. (NYSE:WM) has been assigned an average rating of “Moderate Buy” from the twenty-two ratings firms that are currently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $256.7368.

Several equities analysts have issued reports on WM shares. JPMorgan Chase & Co. increased their price objective on shares of Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Canadian Imperial Bank of Commerce raised shares of Waste Management from a “hold” rating to an “outperformer” rating and set a $244.00 target price for the company in a research note on Tuesday, July 7th. Wells Fargo & Company decreased their price target on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Oppenheimer lowered their price objective on Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a report on Wednesday, July 8th. Finally, TD Cowen boosted their price objective on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Waste Management during the fourth quarter worth about $1,022,916,000. Corient Private Wealth LLC raised its holdings in Waste Management by 279.0% in the 4th quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock valued at $236,387,000 after acquiring an additional 792,037 shares during the last quarter. Diamant Asset Management Inc. lifted its stake in Waste Management by 23,051.5% in the 1st quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock worth $17,716,000 after purchasing an additional 767,615 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Waste Management by 3,209.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider’s stock worth $150,466,000 after purchasing an additional 660,776 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Waste Management by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider’s stock worth $8,566,508,000 after purchasing an additional 553,605 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Key Stories Impacting Waste Management

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: A Seeking Alpha piece highlighted Waste Management as a defensive name with a positive outlook, suggesting investors may still view WM as a stable anchor in uncertain markets. Waste Management: Positive Outlook As Defensive Anchor Remains
• Neutral Sentiment: Analysts said WM’s earnings are expected to grow, but also noted the stock may not have the setup for a clear earnings beat, which keeps expectations balanced ahead of the next report. Waste Management (WM) Earnings Expected to Grow: Should You Buy?
• Neutral Sentiment: Another earnings preview from Zacks struck a similar tone, saying investors should be prepared for growth but not necessarily a strong upside surprise. Waste Management (WM) Earnings Expected to Grow: Should You Buy?
• Negative Sentiment: WM fell as the broader market moved higher, indicating some near-term profit-taking or relative weakness versus the market. Waste Management (WM) Stock Sinks As Market Gains: What You Should Know
• Negative Sentiment: A local report said Waste Management will end service in a Centre County township, which could slightly weigh on sentiment even if the business impact is limited. Waste Management to end service in a Centre County township

Waste Management Stock Up 1.5%

Shares of WM opened at $236.69 on Thursday. The firm has a market cap of $95.05 billion, a P/E ratio of 34.25, a PEG ratio of 2.84 and a beta of 0.44. Waste Management has a 12 month low of $194.11 and a 12 month high of $248.13. The stock’s 50 day moving average is $223.42 and its two-hundred day moving average is $226.86. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22.

Waste Management (NYSE:WM) last released its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 EPS. Analysts predict that Waste Management will post 8.15 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, June 5th. Waste Management’s payout ratio is presently 54.70%.

About Waste Management

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.