Waste Management, Inc. (NYSE:WM - Get Free Report) COO John Morris sold 7,979 shares of the business's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $245.07, for a total value of $1,955,413.53. Following the transaction, the chief operating officer directly owned 98,656 shares in the company, valued at $24,177,625.92. This trade represents a 7.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Waste Management Stock Up 0.2%
NYSE WM opened at $246.66 on Tuesday. The business's fifty day simple moving average is $228.43 and its 200-day simple moving average is $219.99. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.22. The firm has a market cap of $99.49 billion, a PE ratio of 36.81, a P/E/G ratio of 2.60 and a beta of 0.57. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13.
Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.95 by ($0.02). Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The firm had revenue of $6.31 billion during the quarter, compared to analysts' expectations of $6.39 billion. During the same period in the prior year, the company posted $1.70 EPS. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.
Waste Management Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.945 dividend. This is a positive change from Waste Management's previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.78 annualized dividend and a dividend yield of 1.5%. Waste Management's dividend payout ratio is currently 49.25%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the company. Elevated Capital Advisors LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at $25,000. Financial Network Wealth Advisors LLC boosted its holdings in Waste Management by 55.3% during the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock valued at $29,000 after acquiring an additional 47 shares during the period. Cornerstone Planning Group LLC grew its position in Waste Management by 101.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider's stock valued at $29,000 after acquiring an additional 67 shares in the last quarter. RHL Group LLC purchased a new stake in Waste Management during the fourth quarter worth about $29,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in shares of Waste Management during the fourth quarter worth about $29,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on WM. Stifel Nicolaus upped their price objective on Waste Management from $236.00 to $252.00 and gave the company a "buy" rating in a report on Friday, January 30th. TD Cowen lifted their target price on Waste Management from $265.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Sanford C. Bernstein upped their price target on Waste Management from $255.00 to $260.00 and gave the company an "outperform" rating in a research note on Monday, January 5th. Morgan Stanley lowered their price target on Waste Management from $232.00 to $230.00 and set an "equal weight" rating for the company in a report on Wednesday, December 17th. Finally, Oppenheimer boosted their price objective on shares of Waste Management from $263.00 to $264.00 and gave the company an "outperform" rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $253.55.
Get Our Latest Analysis on Waste Management
Waste Management Company Profile
(
Get Free Report)
Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.
Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.
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