5 Best Recycling Stocks to Invest In

3. Waste Management, Inc. (NYSE: WM)

Number of Hedge Fund Holders: 32

Waste Management, Inc. (NYSE: WM) is a provider of waste management environmental services to residential, commercial, industrial, and municipal customers in North America. The company ranks 3rd on our list of the best recycling stocks to invest in.

This May, Waste Management, Inc. (NYSE: WM) was among the waste management stocks noted by Goldman Sachs as being reasonably valued and initiated at a Buy rating in light of the sector’s growth potential. The stock also rallied in light of its positive Q1 results. In the first quarter of 2021, Waste Management, Inc. (NYSE: WM) had an EPS of $1.06, beating estimates by $0.05. The company’s revenue was $4.11 billion, up 10.27% year over year, also beating estimates by $76.54 million, and it has a gross profit margin of 38.94%. The stock has also gained 21.23% in the past 6 months and 24.31% year to date.

As of the end of the first quarter of 2021, 32 hedge fund holders out of the 866 tracked by Insider Monkey held stakes in Waste Management, Inc. (NYSE: WM) worth roughly $3.29 billion. This is compared to 37 hedge funds in the previous quarter, with a total stake value of $2.93 billion.