Waste Management (NYSE:WM) Hits New 12-Month High – Here’s Why

Waste Management, Inc. (NYSE:WM)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $225.78 and last traded at $225.38, with a volume of 474614 shares. The stock had previously closed at $220.44.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WM shares. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a research note on Friday, July 26th. Robert W. Baird lowered their target price on Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Royal Bank of Canada upped their price target on shares of Waste Management from $204.00 to $220.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. BMO Capital Markets lifted their price objective on shares of Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Scotiabank initiated coverage on shares of Waste Management in a report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price for the company. Eleven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Waste Management has a consensus rating of “Moderate Buy” and a consensus price target of $226.11.

Waste Management Stock Performance

The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The stock has a market cap of $89.96 billion, a P/E ratio of 34.27, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. The firm’s 50-day moving average is $210.21 and its two-hundred day moving average is $209.26.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.07. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.51 billion. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. Waste Management’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 EPS. As a group, research analysts expect that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Friday, September 13th. Waste Management’s dividend payout ratio is 45.87%.

Insider Buying and Selling

In other Waste Management news, Director Maryrose Sylvester sold 310 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the transaction, the director now owns 3,875 shares in the company, valued at $834,946.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aberdeen Wealth Management LLC grew its stake in shares of Waste Management by 1.1% in the third quarter. Aberdeen Wealth Management LLC now owns 4,130 shares of the business services provider’s stock worth $857,000 after acquiring an additional 45 shares during the last quarter. Signature Estate & Investment Advisors LLC increased its holdings in shares of Waste Management by 3.9% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,239 shares of the business services provider’s stock worth $257,000 after purchasing an additional 46 shares during the period. ARS Wealth Advisors Group LLC raised its position in shares of Waste Management by 3.1% during the second 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 last quarter. Benchmark Financial Wealth Advisors LLC lifted its stake in shares of Waste Management by 1.9% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 2,631 shares of the business services provider’s stock valued at $546,000 after buying an additional 49 shares during the period. Finally, Balboa Wealth Partners grew its position in Waste Management by 4.1% during the third quarter. Balboa Wealth Partners now owns 1,233 shares of the business services provider’s stock worth $256,000 after buying an additional 49 shares in 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.