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Waste Management (WM) Gains 10% in 3 Months: Here's How

Waste Management, Inc. WM has had an impressive run over the past three months. The stock has gained 10%, outperforming 5% and 1% growth of the industry it belongs to and  the Zacks S&P 500 composite, respectively.

Let’s delve into the factors that have contributed to the company’s performance.

Being a leading provider of comprehensive waste management environmental services, WM is expected to continue benefiting from ongoing trends like increasing environmental concerns, rapid industrialization, a rise in population and active government measures to reduce illegal dumping. The company’s top line improved 2.4% year over year in the third quarter of 2023.

Waste Management, Inc. Price

 

Waste Management, Inc. Price
Waste Management, Inc. Price

Waste Management, Inc. price | Waste Management, Inc. Quote

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Waste Management has a dominant market capitalization and a steady dividend as well as share repurchase policy. In 2022, 2021 and 2020, it repurchased shares worth $1.5 billion, $1.4 billion and $402 million, respectively. It paid $1.1 billion, $970 million and $927 million in dividends during 2022,2021 and 2020, respectively. Such moves indicate WM’s commitment to boosting shareholders’ value and underlining its confidence in its business.

WM continues to execute core operating initiatives targeting focused differentiation and continuous improvement, and instil price and cost discipline to achieve better margins. While differentiation through capitalization of extensive assets ensures long-term profitable growth and competitive advantages, cost control and process improvement help enhance service quality.

Zacks Rank and Stocks to Consider

Waste Management currently carries a Zacks Rank #3 (Hold).

Investors interested in the Zacks Business Services sector can consider the following better-ranked stocks:

Rollins ROL currently carries a Zacks Rank #2 (Buy). For the fourth quarter of 2023, the Zacks Consensus Estimate for earnings is pegged at 20 cents per share, indicating year-over-year growth of 17.7%.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

ROL has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and matching once, the average surprise being 7.2%.

FTI Consulting FCN also carries a Zacks Rank of 2 at present. The consensus mark for fourth-quarter 2023 earnings is pegged at $1.57 per share, indicating 3.3% year-over-year growth.

FCN has an impressive earnings surprise history, beating the consensus mark in three of the four trailing quarters and missing once, the average surprise being 8.5%.

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Waste Management, Inc. (WM) : Free Stock Analysis Report

FTI Consulting, Inc. (FCN) : Free Stock Analysis Report

Rollins, Inc. (ROL) : Free Stock Analysis Report

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