10 Best Waste Management Stocks to Buy According to Analysts

7. Waste Connections, Inc. (NYSE:WCN)

Market cap as of November 22, 2024: $48.77 Billion

Number of Hedge Fund Holders: 48

Stock Upside Potential: 6.15% 

Waste Connections, Inc. (NYSE:WCN) is one of the best waste management stocks to buy, specializing in providing non-hazardous waste collection, transfer, disposal, and resource recovery services. While the company offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers, its stock is up by 27.17% year to date.

The outperformance stems from Waste Connections, Inc. (NYSE:WCN) actively engaging in mergers and acquisitions that have increased its market share and service offerings. This includes the purchase of Lone Star Disposal, LP, and a significant participant in Texas’ waste management market. Progressive Waste Solutions is also a part of it. The solid pipeline of acquisitions and mergers is expected to contribute $700 million worth of annualized revenue.

Waste Connections, Inc. (NYSE:WCN)’s long-term prospects remain intact, given that waste management is a necessary service with consistent demand that generates a steady flow of income. It delivered better-than-expected third-quarter results on October 23, 2024, with revenue increasing 13.3% year over year as adjusted earnings increased 17.3% to $787.4 million. Net income per share came in at $1.19 and adjusted EBITDA margin improved 120 basis points to 33.7%. The solid results came against the backdrop of solid pricing supplemented by incremental acquisition contribution.