WM (NYSE: WM), formerly known as Waste Management, is one of the few industrial stocks that is outperforming the Nasdaq Composite, S&P 500, and Dow Jones Industrial Average so far in 2022. In fact, share prices of WM are down just 7% from their all-time highs, while the Nasdaq is in a deep bear market and the S&P 500 is just a few percentage points away from a bear market. Demand for its services is far less correlated to the economic cycle than most industrial companies.
Garbage and environmental services company Waste Management (NYSE: WM) is an excellent example of a company that you can buy stock in and sleep well at night. Here is why Waste Management's valuation stinks today. Waste Management serves more than 20 million residential, commercial, and industrial customers across North America.
Landfills produce an enormous amount of greenhouse gas emissions as organic waste like food scraps, wood, and paper decompose and produce methane. Methane vented into the atmosphere is a greater contributor to climate change than carbon dioxide emissions. The collections and recycling company is investing hundreds of millions of dollars to capture these emissions and turn them into renewable energy.