Waste Management, Inc. (NYSE:WM) Director Frank M. Clark sold 267 shares of Waste Management stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $119.69, for a total transaction of $31,957.23. Following the transaction, the director now owns 32,396 shares of the company’s stock, valued at $3,877,477.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of WM opened at $119.65 on Friday. The company has a market capitalization of $50.69 billion, a P/E ratio of 29.18, a price-to-earnings-growth ratio of 3.11 and a beta of 0.60. The company has a quick ratio of 1.82, a current ratio of 1.86 and a debt-to-equity ratio of 1.94. The firm has a 50 day moving average of $113.86 and a 200 day moving average of $115.07. Waste Management, Inc. has a twelve month low of $93.08 and a twelve month high of $121.77.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.05. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4 billion. Waste Management had a net margin of 11.35% and a return on equity of 28.63%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 earnings per share. On average, sell-side analysts expect that Waste Management, Inc. will post 4.37 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.512 per share. This represents a $2.05 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Thursday, December 5th. Waste Management’s dividend payout ratio (DPR) is currently 48.81%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Nuveen Asset Management LLC grew its position in Waste Management by 6,950.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,763,123 shares of the business services provider’s stock worth $434,152,000 after purchasing an additional 3,709,746 shares during the period. Johanson Financial Advisors Inc. grew its position in Waste Management by 11,219.5% in the 4th quarter. Johanson Financial Advisors Inc. now owns 996,000 shares of the business services provider’s stock worth $8,742,000 after purchasing an additional 987,201 shares during the period. BlackRock Inc. grew its position in Waste Management by 3.1% in the 2nd quarter. BlackRock Inc. now owns 32,164,573 shares of the business services provider’s stock worth $3,710,826,000 after purchasing an additional 976,898 shares during the period. Pictet Asset Management Ltd. grew its position in Waste Management by 19.4% in the 3rd quarter. Pictet Asset Management Ltd. now owns 3,329,752 shares of the business services provider’s stock worth $382,921,000 after purchasing an additional 540,962 shares during the period. Finally, California Public Employees Retirement System grew its position in Waste Management by 17.3% in the 2nd quarter. California Public Employees Retirement System now owns 3,395,778 shares of the business services provider’s stock worth $391,771,000 after purchasing an additional 501,763 shares during the period. 72.62% of the stock is owned by institutional investors.
Several research firms have recently issued reports on WM. Bank of America lowered shares of Waste Management from a “buy” rating to a “neutral” rating in a report on Friday, October 18th. Stifel Nicolaus set a $125.00 target price on shares of Waste Management and gave the company a “buy” rating in a report on Monday, October 21st. CIBC began coverage on shares of Waste Management in a report on Tuesday, December 17th. They set an “outperform” rating and a $130.00 target price for the company. Jefferies Financial Group began coverage on shares of Waste Management in a report on Wednesday, November 27th. They set a “hold” rating and a $120.00 target price for the company. Finally, Deutsche Bank began coverage on shares of Waste Management in a report on Friday. They set a “hold” rating and a $123.00 target price for the company. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $121.42.
About Waste Management
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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