Bangor Savings Bank Has $217,000 Stock Holdings in Waste Management, Inc. (NYSE:WM)

Bangor Savings Bank lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,077 shares of the business services provider’s stock after selling 73 shares during the period. Bangor Savings Bank’s holdings in Waste Management were worth $217,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Waste Management by 2.1% during the third quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock worth $1,686,203,000 after acquiring an additional 168,818 shares in the last quarter. Parnassus Investments LLC lifted its stake in Waste Management by 11.3% in the 3rd quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after purchasing an additional 520,096 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Waste Management by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock worth $969,401,000 after purchasing an additional 12,664 shares during the period. Nordea Investment Management AB increased its position in Waste Management by 7.1% during the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock worth $854,446,000 after buying an additional 280,455 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Waste Management by 6.8% in the second quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after buying an additional 243,900 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Truist Financial increased their price target on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer increased their target price on shares of Waste Management from $230.00 to $231.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. CIBC upped their target price on Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. BMO Capital Markets lifted 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. Finally, Argus lifted their target price on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus price target of $230.72.

Insider Transactions at Waste Management

In other news, Director Maryrose Sylvester sold 310 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 $834,946.25. This trade represents a 7.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Waste Management Trading Up 0.7 %

Shares of WM stock opened at $203.24 on Wednesday. Waste Management, Inc. has a 1-year low of $176.68 and a 1-year high of $230.39. 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 stock has a market cap of $81.57 billion, a price-to-earnings ratio of 31.08, a PEG ratio of 2.36 and a beta of 0.77. The stock has a 50-day moving average of $215.27 and a 200-day moving average of $211.45.

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

Waste Management Announces Dividend

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

Waste Management 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.