Fintel reports that on July 27, 2023, Oppenheimer maintained coverage of Waste Management (NYSE:WM) with a Outperform recommendation.
Analyst Price Forecast Suggests 9.39% Upside
As of July 6, 2023, the average one-year price target for Waste Management is 180.43. The forecasts range from a low of 163.62 to a high of $210.00. The average price target represents an increase of 9.39% from its latest reported closing price of 164.94.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Waste Management is 21,445MM, an increase of 7.11%. The projected annual non-GAAP EPS is 6.30.
Waste Management Declares $0.70 Dividend
On May 8, 2023 the company declared a regular quarterly dividend of $0.70 per share ($2.80 annualized). Shareholders of record as of June 2, 2023 received the payment on June 16, 2023. Previously, the company paid $0.70 per share.
At the current share price of $164.94 / share, the stock's dividend yield is 1.70%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.80%, the lowest has been 1.38%, and the highest has been 2.48%. The standard deviation of yields is 0.22 (n=235).
The current dividend yield is 0.46 standard deviations below the historical average.
What is the Fund Sentiment?
There are 2566 funds or institutions reporting positions in Waste Management. This is a decrease of 4 owner(s) or 0.16% in the last quarter. Average portfolio weight of all funds dedicated to WM is 0.41%, a decrease of 13.36%. Total shares owned by institutions decreased in the last three months by 0.43% to 359,353K shares. 
The put/call ratio of WM is 1.00, indicating a bearish outlook.
What are Other Shareholders Doing?
Bill & Melinda Gates Foundation Trust holds 35,234K shares representing 8.66% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 12,637K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 12,478K shares, representing an increase of 1.25%. The firm decreased its portfolio allocation in WM by 2.74% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 8,667K shares representing 2.13% ownership of the company. In it's prior filing, the firm reported owning 8,635K shares, representing an increase of 0.36%. The firm decreased its portfolio allocation in WM by 3.19% over the last quarter.
Geode Capital Management holds 7,023K shares representing 1.73% ownership of the company. In it's prior filing, the firm reported owning 7,024K shares, representing a decrease of 0.01%. The firm decreased its portfolio allocation in WM by 3.82% over the last quarter.
Ameriprise Financial holds 5,729K shares representing 1.41% ownership of the company. In it's prior filing, the firm reported owning 5,684K shares, representing an increase of 0.79%. The firm decreased its portfolio allocation in WM by 81.49% over the last quarter.
Waste Management Background Information
(This description is provided by the company.)
Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management environmental services in North America, providing services throughout the United States and Canada. Through its subsidiaries, the Company provides collection, transfer, disposal services, and recycling and resource recovery. It is also a leading developer, operator, and owner of landfill gas-to-energy facilities in the United States. The Company's customers include residential, commercial, industrial, and municipal customers throughout North America.
Additional reading:
- Guarantor Subsidiary.
- Mine Safety Disclosures.
- June 30, 2022 (in millions, except per share amounts)
- Waste Management, Inc. 2023 Stock Incentive Plan
- Organic Revenue Growth Drives Increases in Income from Operations, Operating EBITDA, and Diluted Earnings per Share WM Recognized by Forbes as One of the Best Employers for Diversity
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
