Bangor Savings Bank Sells 97 Shares of Waste Management, Inc. (NYSE:WM)

Bangor Savings Bank trimmed its position in Waste Management, Inc. (NYSE:WM) by 6.5% during the first quarter, HoldingsChannel.com reports. The fund owned 1,401 shares of the business services provider’s stock after selling 97 shares during the quarter. Bangor Savings Bank’s holdings in Waste Management were worth $299,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in WM. Acadian Asset Management LLC increased its stake in Waste Management by 636.1% in the third quarter. Acadian Asset Management LLC now owns 16,120 shares of the business services provider’s stock valued at $2,455,000 after acquiring an additional 13,930 shares during the last quarter. AlphaCore Capital LLC boosted its position in Waste Management by 8.6% in the third quarter. AlphaCore Capital LLC now owns 2,918 shares of the business services provider’s stock valued at $445,000 after buying an additional 231 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in Waste Management by 17.1% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 13,869 shares of the business services provider’s stock valued at $2,114,000 after buying an additional 2,021 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in Waste Management by 86.9% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 26,254 shares of the business services provider’s stock valued at $4,002,000 after buying an additional 12,204 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Waste Management by 301.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,929 shares of the business services provider’s stock valued at $1,971,000 after buying an additional 9,709 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Waste Management Trading Up 0.1 %

NYSE:WM opened at $208.99 on Monday. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.89 and a quick ratio of 0.85. The company has a market cap of $83.82 billion, a PE ratio of 34.20, a PEG ratio of 2.43 and a beta of 0.74. Waste Management, Inc. has a one year low of $149.71 and a one year high of $214.54. The firm has a 50-day moving average of $207.37 and a 200-day moving average of $198.67.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. The firm had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 earnings per share. As a group, equities research analysts expect that Waste Management, Inc. will post 7.31 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Friday, June 7th. Waste Management’s payout ratio is 49.10%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research report on Friday, June 14th. Morgan Stanley lifted their price target on shares of Waste Management from $202.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Robert W. Baird lifted their price target on shares of Waste Management from $214.00 to $222.00 and gave the stock a “neutral” rating in a report on Tuesday, April 30th. BMO Capital Markets lifted their price target on shares of Waste Management from $207.00 to $212.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Finally, CIBC lifted their price target on shares of Waste Management from $207.00 to $220.00 and gave the stock a “neutral” rating in a report on Monday, April 29th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $217.61.

Insider Activity at Waste Management

In related news, VP Michael J. Watson sold 4,208 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total transaction of $859,610.24. Following the sale, the vice president now directly owns 45,644 shares in the company, valued at approximately $9,324,156.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.