Waste Management (NYSE:WM) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Waste Management (NYSE:WM) had its price target reduced by JPMorgan Chase & Co. from $270.00 to $235.00 in a research report released on Thursday,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

A number of other analysts have also commented on WM. Wolfe Research started coverage on Waste Management in a research report on Tuesday, September 15th. They issued a “peer perform” rating for the company. Royal Bank Of Canada raised their price objective on Waste Management from $240.00 to $244.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce lowered their target price on Waste Management from $250.00 to $225.00 and set a “neutral” rating on the stock in a research report on Thursday. Scotiabank increased their target price on Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a report on Thursday, July 16th. Finally, Weiss Ratings lowered shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 2nd. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and a consensus price target of $256.65.

Waste Management Stock Down 0.6%

Shares of NYSE WM opened at $208.76 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. The firm has a market cap of $83.44 billion, a PE ratio of 29.57, a P/E/G ratio of 2.63 and a beta of 0.42. The company’s fifty day simple moving average is $216.99 and its 200 day simple moving average is $222.56. Waste Management has a 12-month low of $194.11 and a 12-month high of $248.13.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.04. The firm had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.92 earnings per share. As a group, sell-side analysts forecast that Waste Management will post 8.12 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 11th were given a dividend of $0.9450 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.78 annualized dividend and a dividend yield of 1.8%. Waste Management’s payout ratio is presently 53.54%.

Insider Transactions at Waste Management

In related news, CAO John Carroll sold 1,365 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $219.90, for a total value of $300,163.50. Following the completion of the sale, the chief accounting officer directly owned 3,509 shares of the company’s stock, valued at approximately $771,629.10. This represents a 28.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

A number of institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Trust Services Inc. boosted its stake in shares of Waste Management by 243.7% in the 3rd quarter. Wealth Enhancement Trust Services Inc. now owns 1,117 shares of the business services provider’s stock worth $228,000 after buying an additional 792 shares during the last quarter. Eastern Bank boosted its position in Waste Management by 1.3% in the third quarter. Eastern Bank now owns 161,483 shares of the business services provider’s stock worth $32,930,000 after purchasing an additional 2,122 shares during the last quarter. QRG Capital Management Inc. boosted its position in Waste Management by 5.4% in the second quarter. QRG Capital Management Inc. now owns 57,846 shares of the business services provider’s stock worth $12,893,000 after purchasing an additional 2,958 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Waste Management by 6.4% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 53,766 shares of the business services provider’s stock valued at $11,983,000 after purchasing an additional 3,232 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Waste Management by 2.9% during the 2nd quarter. State Street Corp now owns 18,008,931 shares of the business services provider’s stock worth $4,013,831,000 after purchasing an additional 507,209 shares during the period. 80.40% of the stock is owned by institutional investors.

Key Stories Impacting Waste Management

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

• Positive Sentiment: JPMorgan remains bullish despite a target cut. JPMorgan lowered its price target from $270 to $235 but maintained an “overweight” rating, implying potential upside from the current level. The reduction appears to reflect more cautious valuation expectations rather than a change to a negative view.
• Positive Sentiment: Oppenheimer issued a Buy rating. The recommendation provides additional analyst support for WM and reinforces the company’s appeal as a defensive, recurring-revenue business. Waste Management Gets a Buy from Oppenheimer
• Positive Sentiment: Investors are looking for earnings growth. Analysts expect Waste Management to report low-double-digit profitability growth when it releases third-quarter results later this month, creating a potential catalyst if results and guidance exceed expectations. What You Need to Know Ahead of Waste Management’s Earnings Release
• Neutral Sentiment: Jim Cramer discussed WM as a possible long-term holding around $200. His comments may support investor interest near that level, but the television discussion does not materially change the company’s earnings outlook. Jim Cramer Explains How He Would Approach Waste Management
• Neutral Sentiment: Waste Management was highlighted as a monthly-dividend candidate. The company’s contracted trash-collection revenue supports the appeal of its dividend and defensive cash flows, although the article is not a new company-specific announcement. Monthly Dividend Stocks Article
• Negative Sentiment: CIBC also reduced its target and turned more cautious. The firm cut its target from $250 to $225 and assigned a “neutral” rating, adding to concerns that WM’s valuation and near-term upside may be more limited than previously expected.
• Negative Sentiment: Collection service was suspended in Okaloosa County ahead of Hurricane Isaias. The disruption is likely temporary, but severe weather can delay revenue collection and create incremental operating costs. Waste Management Suspends Trash Collection Ahead of Hurricane Isaias

About Waste Management

Waste Management, Inc, doing business as WM (NYSE: WM), is an environmental services company that provides waste collection, transfer, disposal, recycling and resource recovery services. Its customers include residential households, commercial businesses, industrial organizations and municipalities.

The company operates a network of collection operations, transfer stations, landfills, recycling facilities and waste-to-energy assets across the United States and Canada. Its services include curbside collection, dumpster and roll-off services, recycling, landfill disposal, organics management and specialized waste solutions.

Founded in 1968, WM has expanded from a traditional waste collection business into a broader provider of environmental and sustainability services.