Waste Management (WM) Reaches New 52-Week High After Dividend Announcement

Waste Management, Inc. (NYSE:WM)’s share price reached a new 52-week high during trading on Tuesday after the company announced a dividend. The company traded as high as $107.48 and last traded at $106.75, with a volume of 88066 shares traded. The stock had previously closed at $106.50.

The newly announced dividend which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a dividend of $0.5125 per share. This represents a $2.05 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, June 6th. Waste Management’s dividend payout ratio (DPR) is currently 48.81%.

WM has been the topic of a number of research reports. Argus upped their price target on Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating in a research note on Monday, April 15th. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Saturday, January 19th. UBS Group downgraded Waste Management from a “buy” rating to a “neutral” rating and upped their price target for the stock from $103.00 to $106.00 in a research note on Thursday, April 4th. Finally, Oppenheimer upped their price target on Waste Management from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $105.22.

The company has a quick ratio of 0.66, a current ratio of 0.69 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $45.24 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 2.88 and a beta of 0.67.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.68 billion. Waste Management had a return on equity of 29.12% and a net margin of 12.43%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. Equities research analysts predict that Waste Management, Inc. will post 4.32 EPS for the current year.

In other Waste Management news, SVP Tara J. Hmmer sold 472 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $98.81, for a total transaction of $46,638.32. Following the completion of the sale, the senior vice president now directly owns 17,208 shares of the company’s stock, valued at approximately $1,700,322.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John J. Morris sold 42,795 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $106.38, for a total value of $4,552,532.10. Following the sale, the executive vice president now directly owns 101,332 shares of the company’s stock, valued at $10,779,698.16. The disclosure for this sale can be found here. Insiders have sold a total of 47,222 shares of company stock valued at $4,994,409 over the last three months. Corporate insiders own 0.14% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. We Are One Seven LLC bought a new position in shares of Waste Management in the fourth quarter valued at approximately $26,000. Larson Financial Group LLC bought a new position in shares of Waste Management in the fourth quarter valued at approximately $26,000. Executive Wealth Management LLC bought a new position in shares of Waste Management in the fourth quarter valued at approximately $26,000. Altshuler Shaham Ltd bought a new position in shares of Waste Management in the fourth quarter valued at approximately $27,000. Finally, Washington Trust Bank bought a new position in shares of Waste Management in the first quarter valued at approximately $28,000. 75.84% of the stock is owned by hedge funds and other institutional investors.

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Waste Management Company Profile (NYSE:WM)

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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