Waste Management (NYSE:WM) Hits New 1-Year High – What’s Next?

Waste Management, Inc. (NYSE:WM)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $226.92 and last traded at $226.89, with a volume of 669288 shares. The stock had previously closed at $224.41.

Wall Street Analyst Weigh In

Several research firms have weighed in on WM. Argus raised their price target on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Truist Financial lifted their target price on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price target on shares of Waste Management from $214.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Oppenheimer upped their target price on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, StockNews.com raised Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.11.

Waste Management Stock Performance

The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The company’s 50-day moving average price is $212.84 and its 200 day moving average price is $210.10. The stock has a market capitalization of $90.57 billion, a PE ratio of 34.31, a PEG ratio of 2.36 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.07. Waste Management had a net margin of 12.35% and a return on equity of 39.88%. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the business earned $1.63 EPS. Waste Management’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts expect that Waste Management, Inc. will post 7.32 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, December 6th. Waste Management’s dividend payout ratio (DPR) is 45.87%.

Insider Activity

In related news, Director Maryrose Sylvester sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total value of $66,795.70. Following the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This represents a 7.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

Several institutional investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB lifted its stake in Waste Management by 491.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 11,435 shares of the business services provider’s stock valued at $2,374,000 after acquiring an additional 9,502 shares during the period. Arvest Bank Trust Division bought a new position in Waste Management during the third quarter valued at approximately $562,000. World Investment Advisors LLC grew its position in Waste Management by 245.6% in the 3rd quarter. World Investment Advisors LLC now owns 9,413 shares of the business services provider’s stock worth $1,954,000 after purchasing an additional 6,689 shares during the period. Sanctuary Advisors LLC raised its stake in Waste Management by 5.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 79,439 shares of the business services provider’s stock valued at $17,827,000 after buying an additional 4,155 shares during the last quarter. Finally, Aldebaran Financial Inc. lifted its holdings in shares of Waste Management by 4.6% during the 3rd quarter. Aldebaran Financial Inc. now owns 11,210 shares of the business services provider’s stock valued at $2,327,000 after buying an additional 489 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Company Profile

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.