Key Points
- SVP Johnson Varkey sold 500 Waste Management shares at an average $242 each, totaling $121,000; he retained 8,713 shares after the sale.
- Waste Management reported quarterly EPS of $2.15, below the $2.18 consensus estimate, while revenue of $6.85 billion topped expectations and rose 6.3% year over year.
- Analysts’ consensus rating was Moderate Buy, with an average price target of $257.04; the company’s quarterly dividend was $0.945 per share.
Waste Management, Inc. (NYSE:WM - Get Free Report) SVP Johnson Varkey sold 500 shares of the business's stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $242.00, for a total transaction of $121,000.00. Following the transaction, the senior vice president owned 8,713 shares of the company's stock, valued at $2,108,546. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Waste Management Trading Up 0.2%
Shares of WM stock opened at $236.70 on Tuesday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.78 and a current ratio of 0.82. Waste Management, Inc. has a 52-week low of $197.47 and a 52-week high of $248.13. The company has a market capitalization of $94.12 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 3.10 and a beta of 0.38. The business's fifty day moving average is $219.73 and its 200 day moving average is $225.64.
Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The business services provider reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.03). Waste Management had a net margin of 11.78% and a return on equity of 31.97%. The business had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the business posted $1.98 EPS. Waste Management's quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Waste Management, Inc. will post 8.05 EPS for the current fiscal year.
Waste Management Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were issued a $0.9450 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. Waste Management's dividend payout ratio (DPR) is presently 49.61%.
Institutional Trading of Waste Management
Several hedge funds and other institutional investors have recently bought and sold shares of WM. Boston Common Asset Management LLC raised its position in Waste Management by 12.9% in the 2nd quarter. Boston Common Asset Management LLC now owns 55,895 shares of the business services provider's stock worth $12,458,000 after purchasing an additional 6,391 shares during the period. Principal Financial Group Inc. lifted its stake in Waste Management by 3.1% in the first quarter. Principal Financial Group Inc. now owns 460,317 shares of the business services provider's stock worth $105,776,000 after purchasing an additional 14,003 shares during the last quarter. KBC Group NV boosted its position in Waste Management by 16.2% during the first quarter. KBC Group NV now owns 409,741 shares of the business services provider's stock valued at $94,155,000 after buying an additional 57,028 shares during the period. Integrated Wealth Concepts LLC boosted its position in Waste Management by 56.1% during the second quarter. Integrated Wealth Concepts LLC now owns 46,398 shares of the business services provider's stock valued at $10,341,000 after buying an additional 16,673 shares during the period. Finally, Kavar Capital Partners Group LLC boosted its position in Waste Management by 51.1% during the second quarter. Kavar Capital Partners Group LLC now owns 14,207 shares of the business services provider's stock valued at $3,166,000 after buying an additional 4,803 shares during the period. Hedge funds and other institutional investors own 80.40% of the company's stock.
Analyst Ratings Changes
Several research analysts recently weighed in on the stock. BNP Paribas Exane decreased their price objective on shares of Waste Management from $248.00 to $245.00 and set a "neutral" rating on the stock in a research report on Thursday, October 29th. Citigroup cut their price target on shares of Waste Management from $269.00 to $259.00 and set a "buy" rating for the company in a research note on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Waste Management from $264.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. TD Cowen restated a "buy" rating on shares of Waste Management in a research report on Thursday, October 29th. Finally, Barclays lifted their price objective on shares of Waste Management from $277.00 to $283.00 and gave the stock an "overweight" rating in a report on Thursday, October 29th. Eighteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $257.04.
Read Our Latest Stock Analysis on Waste Management
Waste Management Company Profile
(
Get Free Report)
Waste Management, Inc, doing business as WM (NYSE:WM), is an environmental services company that provides waste collection, transportation, disposal, recycling and resource-recovery services. The company serves residential, commercial, industrial and municipal customers through a network of collection operations, transfer stations, landfills, recycling facilities and other environmental infrastructure.
WM’s services include curbside and commercial waste collection, construction and demolition debris management, recycling, organics processing and landfill disposal.
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