Waste Management, Inc. (NYSE:WM) Shares Sold by Bangor Savings Bank

Bangor Savings Bank reduced its position in Waste Management, Inc. (NYSE:WM) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. 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.

Other hedge funds have also recently added to or reduced their stakes in the company. Quent Capital LLC raised its position in shares of Waste Management by 7.3% during the 4th quarter. Quent Capital LLC now owns 810 shares of the business services provider’s stock worth $145,000 after purchasing an additional 55 shares during the period. Drake & Associates LLC raised its position in shares of Waste Management by 3.4% during the 4th quarter. Drake & Associates LLC now owns 1,652 shares of the business services provider’s stock worth $296,000 after purchasing an additional 55 shares during the period. Alpha Cubed Investments LLC raised its position in shares of Waste Management by 2.9% during the 4th quarter. Alpha Cubed Investments LLC now owns 1,973 shares of the business services provider’s stock worth $353,000 after purchasing an additional 56 shares during the period. Signal Advisors Wealth LLC raised its position in shares of Waste Management by 2.2% during the 1st quarter. Signal Advisors Wealth LLC now owns 2,571 shares of the business services provider’s stock worth $548,000 after purchasing an additional 56 shares during the period. Finally, Peoples Financial Services CORP. increased its position in Waste Management by 1.7% in the 4th quarter. Peoples Financial Services CORP. now owns 3,459 shares of the business services provider’s stock valued at $620,000 after acquiring an additional 57 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the transaction, the vice president now directly owns 45,644 shares in the company, valued at $9,324,156.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

Waste Management Price Performance

Shares of NYSE:WM opened at $208.99 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23. Waste Management, Inc. has a 1 year low of $149.71 and a 1 year high of $214.54. The business has a fifty day simple moving average of $207.37 and a 200 day simple moving average of $198.67. The firm has a market cap of $83.82 billion, a price-to-earnings ratio of 34.20, a P/E/G ratio of 2.43 and a beta of 0.74.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.23. Waste Management had a return on equity of 38.61% and a net margin of 11.98%. The business had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the company earned $1.31 earnings per share. Waste Management’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.31 earnings per share 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 issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 1.44%. Waste Management’s dividend payout ratio (DPR) is currently 49.10%.

Analyst Ratings Changes

WM has been the topic of several analyst reports. Raymond James raised their target price on Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. CIBC increased their price target on Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Stifel Nicolaus increased their price target on Waste Management from $215.00 to $227.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Jefferies Financial Group raised their price objective on Waste Management from $230.00 to $256.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Erste Group Bank reissued a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Eleven investment 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $217.61.

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.