5 Best Recycling Stocks To Buy Now

Page 5 of 5

1. Waste Management Inc. (NYSE:WM)

Hedge Fund Holdings: 41

Headquartered in Houston, Texas, Waste Management Inc. (NYSE:WM) is a North American waste management, comprehensive waste, environmental services, and recycling services company. Investor interest around Waste Management Inc. (NYSE:WM) skyrocketed in Q3 2023, with 41 funds long the stock. This was up from 39 funds in the preceding quarter. The company posted an EPS of $1.63 in Q3 2023, beating estimates of $1.61 by $0.02. On October 26, Stifel analyst Michael Hoffman raised the price target on Waste Management Inc. (NYSE:WM) from $177 to $183, and maintained a Buy rating on the shares. According to the analyst, the stock’s Q3 2023 financial performance was stellar, with revenue rising by more than 2.4%, Furthermore the company’s pricing power and mechanisms aimed at reducing expenditure have built up resiliency to macroeconomic headwinds in recycling and renewable energy. The company projects that its sustainable investments sector will be able to rake in $740 million of incremental EBITDA by 2026, contributing to long-term growth.

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also take a peek at 30 Best Gifts Under $50 for Her and AARP’s Most Affordable Places to Retire in Recent Years.

Page 5 of 5