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

Shares of Waste Management, Inc. (NYSE:WM) reached a new 52-week high during trading on Thursday . The company traded as high as $239.32 and last traded at $234.94, with a volume of 252613 shares trading hands. The stock had previously closed at $234.56.

Analyst Ratings Changes

WM has been the topic of several recent analyst reports. Scotiabank raised their target price on shares of Waste Management from $250.00 to $255.00 and gave the company a “sector outperform” rating in a report on Monday, February 3rd. StockNews.com downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Raymond James lifted their price target on Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Oppenheimer upped their price objective on Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, William Blair reissued an “outperform” rating on shares of Waste Management in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus target price of $236.65.

Waste Management Stock Down 4.9 %

The stock’s 50-day simple moving average is $226.71 and its 200 day simple moving average is $217.35. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. The firm has a market cap of $90.61 billion, a P/E ratio of 33.14, a PEG ratio of 2.71 and a beta of 0.75.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, January 29th. The business services provider reported $1.70 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 37.93% and a net margin of 12.45%. As a group, research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.825 per share. The ex-dividend date was Friday, March 14th. This represents a $3.30 annualized dividend and a dividend yield of 1.46%. This is a positive change from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s dividend payout ratio is currently 48.53%.

Insider Activity

In related news, CAO John A. Carroll sold 209 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $220.55, for a total value of $46,094.95. Following the transaction, the chief accounting officer now owns 9,066 shares of the company’s stock, valued at approximately $1,999,506.30. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Johnson Varkey sold 560 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.11, for a total value of $123,261.60. Following the sale, the senior vice president now directly owns 9,152 shares of the company’s stock, valued at $2,014,446.72. This represents a 5.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,577 shares of company stock worth $21,662,464 in the last three months. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Waste Management

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Global Wealth Strategies & Associates raised its holdings in shares of Waste Management by 892.9% in the fourth quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 125 shares during the last quarter. Transce3nd LLC bought a new position in shares of Waste Management during the 4th quarter worth approximately $28,000. General Partner Inc. purchased a new position in shares of Waste Management in the 4th quarter worth approximately $29,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Waste Management during the fourth quarter valued at approximately $33,000. Finally, Hurley Capital LLC bought a new stake in shares of Waste Management during the 4th quarter worth $34,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

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.