Bangor Savings Bank Sells 73 Shares of Waste Management, Inc. (NYSE:WM)

Bangor Savings Bank lessened its position in Waste Management, Inc. (NYSE:WM) by 6.3% in the fourth quarter, HoldingsChannel reports. The fund owned 1,077 shares of the business services provider’s stock after selling 73 shares during the quarter. Bangor Savings Bank’s holdings in Waste Management were worth $217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of WM. Nordea Investment Management AB increased its stake in Waste Management by 7.1% during the 4th quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after purchasing an additional 280,455 shares in the last quarter. Trium Capital LLP increased its position in shares of Waste Management by 33.6% during the third quarter. Trium Capital LLP now owns 12,031 shares of the business services provider’s stock worth $2,498,000 after acquiring an additional 3,029 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of Waste Management by 77.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 12,298 shares of the business services provider’s stock worth $2,553,000 after acquiring an additional 5,367 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Waste Management by 6.2% during the 3rd quarter. Principal Financial Group Inc. now owns 480,534 shares of the business services provider’s stock valued at $99,759,000 after purchasing an additional 28,266 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Waste Management by 417.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,471 shares of the business services provider’s stock worth $720,000 after purchasing an additional 2,800 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on WM. Scotiabank began coverage on Waste Management in a research report on Friday, October 4th. They set a “sector perform” rating and a $220.00 target price on the stock. Royal Bank of Canada lifted their price objective on shares of Waste Management from $204.00 to $220.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. BMO Capital Markets increased their price objective on shares of Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Truist Financial upped their target price on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Oppenheimer lifted their price target on Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $230.72.

Waste Management Stock Up 0.7 %

WM opened at $203.24 on Wednesday. Waste Management, Inc. has a 12 month low of $176.68 and a 12 month high of $230.39. The company has a market cap of $81.57 billion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 2.36 and a beta of 0.77. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. The company has a 50 day moving average of $215.27 and a 200 day moving average of $211.45.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.07. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Waste Management had a return on equity of 39.88% and a net margin of 12.35%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 earnings per share. On average, sell-side analysts expect that Waste Management, Inc. will post 7.32 EPS for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Friday, December 6th. Waste Management’s payout ratio is 45.87%.

Insider Activity at Waste Management

In related news, Director Maryrose Sylvester sold 310 shares of Waste Management stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $215.47, for a total transaction of $66,795.70. Following the completion of the sale, the director now owns 3,875 shares of the company’s stock, valued at approximately $834,946.25. This trade represents a 7.41 % 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. 0.18% of the stock is owned by corporate insiders.

About Waste Management

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.