The Waste Management, Inc. (WM) Upgraded by Zacks Investment Research to “Buy”

The Waste Management, Inc. (WM) Upgraded by Zacks Investment Research to “Buy”

According to Zacks, “Waste Management is executing well on its initiatives to refocus on the core business activities and instill price and cost discipline to achieve better margins. Waste Management's successful cost-reduction initiatives have also helped it in accomplishing remarkable gross margin expansion and EBITDA growth over the quarters. The company further expects yield momentum to continue in its solid waste lines of business in the forthcoming quarters. With strong yield, volume, and cost performance in the first quarter, the company reiterated its bullish guidance for 2017. Waste Management aims to focus on improving customer retention by providing better service and higher value solutions. The company has a steady dividend policy to reward its shareholders with risk-adjusted returns. The stock has also outperformed the industry in the last three months. However, decline in average recycling commodity prices remains a significant headwind.”

Zacks Investment Research upgraded shares of Waste Management, Inc. (NYSE:WM) from a hold rating to a buy rating in a research note issued to investors on Tuesday, May 16th. They currently have $81.00 price objective on the business services provider’s stock.

WM has been the subject of a number of other reports. Barclays PLC cut shares of Waste Management from an overweight rating to an equal weight rating and increased their target price for the company from $70.00 to $73.00 in a research report on Wednesday, March 1st. They noted that the move was a valuation call. KeyCorp raised their price objective on shares of Waste Management from $50.00 to $65.00 and gave the stock an overweight rating in a research report on Thursday, May 11th. Wedbush lifted their price target on shares of Waste Management from $72.00 to $75.00 and gave the company a neutral rating in a research report on Tuesday, February 21st. Finally, Oppenheimer Holdings Inc. set a $75.00 price objective on shares of Waste Management and gave the company a buy rating in a research note on Saturday, February 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $72.01. Shares of Waste Management (WM) opened at 74.25 on Tuesday. The company has a market capitalization of $32.81 billion, a price-to-earnings ratio of 27.09 and a beta of 0.70. Waste Management has a 12 month low of $61.05 and a 12 month high of $74.58. The company has a 50-day moving average price of $72.47 and a 200-day moving average price of $71.42.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Friday, June 9th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Wednesday, June 7th. Waste Management’s dividend payout ratio is currently 65.34%. In related news, CEO James C. Fish, Jr. sold 3,500 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $72.19, for a total transaction of $252,665.00. Following the completion of the sale, the chief executive officer now owns 151,162 shares of the company’s stock, valued at approximately $10,912,384.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Barry H. Caldwell sold 8,142 shares of the company’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $73.52, for a total value of $598,599.84. Following the completion of the transaction, the senior vice president now owns 35,916 shares of the company’s stock, valued at approximately $2,640,544.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,373 shares of company stock valued at $1,341,477. Corporate insiders own 0.42% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc boosted its position in Waste Management by 20.5% in the third quarter. NEXT Financial Group Inc now owns 6,537 shares of the business services provider’s stock valued at $417,000 after buying an additional 1,114 shares during the period. Stratos Wealth Partners LTD. boosted its position in Waste Management by 11.6% in the third quarter. Stratos Wealth Partners LTD. now owns 18,266 shares of the business services provider’s stock valued at $1,165,000 after buying an additional 1,896 shares during the period. LMR Partners LLP acquired a new position in Waste Management during the third quarter valued at approximately $2,149,000. Wade G W & Inc. boosted its position in shares of Waste Management by 5.3% in the third quarter. Wade G W & Inc. now owns 102,887 shares of the business services provider’s stock valued at $6,560,000 after buying an additional 5,216 shares during the period. Finally, DUPONT CAPITAL MANAGEMENT Corp boosted its position in shares of Waste Management by 18.8% in the third quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 99,737 shares of the business services provider’s stock valued at $6,359,000 after buying an additional 15,774 shares during the period. Institutional investors own 74.35% of the company’s stock. About Waste Management

Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “WM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”}); Get a free copy of the Zacks research report on Waste Management (WM)

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