Waste Management Stock (NYSE:WM), Trade Ideas

Waste Management

WM ranks as the largest integrated provider of traditional solid waste services in the United States, operating 263 active landfills and about 332 transfer stations. The company serves residential, commercial, and industrial end markets and is also a leading recycler in North America.

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TransUnion (NYSE: TRU) reported impressive first-quarter 2024 results, wherein earnings and revenues beat the Zacks Consensus Estimate.

The stock has barely moved since the earnings release on Apr 25 in response to better-than-expected earnings and impressive guidance.

TransUnion Stock Barely Moves Despite Q1 Earnings Beat

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Unifor Members Working At Waste Management Canada Corp. Began Strike Action On May 2, 2024

<p><strong>TransUnion</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tru#NYSE">TRU</a>) reported impressive first-quarter 2024 results, wherein earnings and revenues beat the Zacks Consensus Estimate.</p>
<p>The stock has barely moved since the earnings release on Apr 25 in response to better-than-expected earnings and impressive guidance.</p>
<p>For 2024, TransUnion expects revenues between $4.02 billion and $4.08 billion compared with $3.96-$4.02 billion stated previously. The Zacks Consensus Estimate of $4.03 billion is lower than the mid-point ($4.04 billion) of the company&#39;s guided range.</p>
<p>TRU anticipates adjusted earnings per share (ETF:EPS) of $3.69-$3.86 compared with $3.57-$3.74 mentioned previously. The consensus estimate for the same is pegged at $3.74, which is lower than the midpoint ($3.78) of the company&#39;s guided range.</p>
<p>TRU&#39;s quarterly adjusted earnings (adjusting 59 cents from non-recurring items) of 92 cents per share surpassed the consensus mark by 13.6% and grew 15% year over year. Total revenues of $1 billion surpassed the consensus mark by 4.5% and increased 8.6% from the year-ago quarter.</p>
<p>The company&#39;s stock has surged 73% over the past six months, outperforming the 14.7% rally of the industry it belongs to and 22.2% growth of the Zacks S&amp;P 500 Composite.</p>
<div class="chart_embed">
<h3>TransUnion Price and EPS Surprise</h3>
<h3><a href="https://www.zacks.com/stock/chart/TRU/price-eps-surprise?icid=chart-TRU-price-eps-surprise"><img alt="TransUnion Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/d7/1714487732.png" style="height:263px; width:537px" title="" /> </a></h3>
<p>TransUnion price-eps-surprise | TransUnion Quote</p>
</div>
<h3>Revenues by Segments</h3>
<p>The U.S. Markets segment&#39;s revenues of $789 million were up 7% year over year and surpassed our estimate of $632.6 million. Within the segment, Financial Services&#39; revenues of $352 million showed an increase of 13% from the year-ago quarter. Emerging Vertical revenues were $298 million, which increased 4% year over year. Consumer Interactive revenues were $139 million, down 2% from first-quarter 2023.</p>
<p>The International segment&#39;s revenues increased 16% year over year on a reported basis and 15% on a constant-currency basis to $236 million and surpassed our estimate of $218.2 million. Revenues from Canada increased 19% year over year on a reported basis and 18% year over year on a constant-currency basis to $36 million, beating our estimate of $34.2 million.</p>
<p>Revenues from India increased 30% on a reported basis and 31% on a constant-currency basis to $71 million and beat our estimated $68.7 million. Revenues from the Asia-Pacific were $25 million, up 17% on both reported and constant-currency basis, beating our estimate of $24.3 million.</p>
<p>Revenues from Latin America increased 14% on a reported basis and 7% on a constant-currency basis to $33 million and beat our estimate of $30.6 million. Revenues from Africa increased 3% on a reported basis and 12% on a constant-currency basis to $15 million, surpassing our estimate of $14.3 million. Revenues from the U.K. were $54 million, up 4% on both reported and constant-currency basis, surpassing our estimate of $46.1 million.</p>
<p>The Consumer Interactive segment&#39;s revenues of $139.3 million decreased 2.1% year over year on a reported basis and missed our estimate of $141.1 million.</p>
<h3>Operating Performance</h3>
<p>Adjusted EBITDA was $358 million, marking a year-over-year increase of 11% on both reported and constant-currency basis. The reported figure beat our estimate of 324.9 million. The adjusted EBITDA margin was 35.1%, 80 basis points higher than the year-ago figure.</p>
<h3>Balance Sheet &amp; Cash Flow</h3>
<p>TransUnion had $434 million in cash and cash equivalents at the end of the quarter compared with $476 million at the end of the prior quarter. The long-term debt was $5.3 billion, flat with the previous quarter.</p>
<p>Cash generated from operating activities during the quarter was $54 million. Capital expenditure was $62.4 million.</p>
<h3>Q2 &amp; 2024 Outlook</h3>
<p>For the second quarter of 2024, TransUnion expects revenues between $1.017 billion and $1.026 billion. The mid-point ($1.02 billion) of the company&#39;s guided range is the same as the current Zacks Consensus Estimate.</p>
<p>TRU anticipates adjusted EPS of 95-98 cents. The consensus estimate for the same is 91 cents lower than the company&#39;s guided range. Adjusted EBITDA is anticipated between $366 million and $372 million.</p>
<p>For 2024, adjusted EBITDA is expected between $1.433 billion and $1.475 billion compared with $1.39-$1.44 billion mentioned previously.</p>
<p>TRU currently carries a Zacks Rank #3 (Hold).</p>
<h3>Earnings Snapshot</h3>
<p><strong>Equifax Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/efx#NYSE">EFX</a>) reported mixed first-quarter 2024 results.</p>
<p>EFX&#39;s adjusted earnings (excluding 50 cents from non-recurring items) were $1.5 per share, beating the Zacks Consensus Estimate by 4.2% and increasing 4.9% from the year-ago quarter. Total revenues of $1.4 billion missed the consensus estimate by a slight margin but increased 6.7% from the year-ago quarter.</p>
<p><strong>Waste Management Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wm#NYSE">WM</a>) reported mixed first-quarter 2024 results.</p>
<p>WM&#39;s adjusted EPS of $1.8 surpassed the Zacks Consensus Estimate by 15.1% and improved 33.6% year over year. Total revenues of $5.2 billion missed the consensus estimate by a slight margin but increased 5.5% year over year.</p>
<p><a href="https://www.zacks.com/stock/news/2265375/transunion-tru-stock-barely-moves-despite-q1-earnings-beat?cid=CS-BENZ-FT-analyst_blog|earnings_article-2265375">To read this article on Zacks.com click here.</a></p>


<p>Baird  analyst David Manthey   maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Neutral and raises the price target from $214 to $222.</p>


Price Target

Analyst Ratings

Baird Maintains Neutral on Waste Management, Raises Price Target to $222

<p>CIBC  analyst Kevin Chiang   maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Neutral and raises the price target from $207 to $220.</p>


CIBC Maintains Neutral on Waste Management, Raises Price Target to $220

<p>TD Cowen  analyst James Schumm   maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Buy and raises the price target from $220 to $235.</p>


TD Cowen Maintains Buy on Waste Management, Raises Price Target to $235

<p>BMO Capital  analyst Devin Dodge   maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Market Perform and raises the price target from $207 to $212.</p>


BMO Capital Maintains Market Perform on Waste Management, Raises Price Target to $212

<p>Oppenheimer  analyst Noah Kaye   maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Outperform and raises the price target from $221 to $228.</p>


Oppenheimer Maintains Outperform on Waste Management, Raises Price Target to $228

<p>Raymond James  analyst Patrick Tyler Brown   maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Outperform and raises the price target from $219 to $229.</p>


Raymond James Maintains Outperform on Waste Management, Raises Price Target to $229

<p>Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) has been analyzed by 15 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.</p>
<p>The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>Analysts have set 12-month price targets for Waste Management, revealing an average target of $213.4, a high estimate of $256.00, and a low estimate of $178.00. Surpassing the previous average price target of $196.20, the current average has increased by 8.77%.</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1714150869_0.png" alt="price target chart" /></p>
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
<p>A comprehensive examination of how financial experts perceive Waste Management is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jeffrey Goldstein</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$214.00</td>
<td>$202.00</td>
</tr>
<tr>
<td>Tobey Sommer</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$240.00</td>
<td>$220.00</td>
</tr>
<tr>
<td>Michael Hoffman</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$227.00</td>
<td>$215.00</td>
</tr>
<tr>
<td>Walter Spracklin</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$215.00</td>
<td>$211.00</td>
</tr>
<tr>
<td>Walter Spracklin</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$211.00</td>
<td>$189.00</td>
</tr>
<tr>
<td>Stephanie Moore</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$256.00</td>
<td>$230.00</td>
</tr>
<tr>
<td>Bryan Burgmeier</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$226.00</td>
<td>$215.00</td>
</tr>
<tr>
<td>Stephanie Yee</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$197.00</td>
<td>$165.00</td>
</tr>
<tr>
<td>Devin Dodge</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$178.00</td>
<td>$166.00</td>
</tr>
<tr>
<td>Devin Dodge</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$196.00</td>
<td>$184.00</td>
</tr>
<tr>
<td>Noah Kaye</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$212.00</td>
<td>$188.00</td>
</tr>
<tr>
<td>Walter Spracklin</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$189.00</td>
<td>$163.00</td>
</tr>
<tr>
<td>Michael Hoffman</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$215.00</td>
<td>$190.00</td>
</tr>
<tr>
<td>Tobey Sommer</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$220.00</td>
<td>$215.00</td>
</tr>
<tr>
<td>Jon Windham</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$205.00</td>
<td>$190.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Waste Management. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li><strong>Rating:</strong> Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Waste Management compared to the broader market.</li>
<li><strong>Price Targets:</strong> Analysts navigate through adjustments in price targets, providing estimates for Waste Management's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
<p>Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Waste Management's market position. Stay informed and make well-informed decisions with our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/WM/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on Waste Management analyst ratings.</strong></a></p>
<h2>About Waste Management</h2>
<p>WM ranks as the largest integrated provider of traditional solid waste services in the United States, operating 259 active landfills and about 337 transfer stations. The company serves residential, commercial, and industrial end markets and is also a leading recycler in North America.</p>
<h3>Waste Management: A Financial Overview</h3>
<p><strong>Market Capitalization Highlights:</strong> Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.</p>
<p><strong>Revenue Growth:</strong> Waste Management's revenue growth over a period of 3 months has been noteworthy. As of 31 December, 2023, the company achieved a revenue growth rate of approximately <strong>5.71%</strong>. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Industrials sector.</p>
<p><strong>Net Margin:</strong> Waste Management's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of <strong>9.45%,</strong> the company showcases strong profitability and effective cost management.</p>
<p><strong>Return on Equity (ROE):</strong> Waste Management's ROE stands out, surpassing industry averages. With an impressive ROE of <strong>7.12%</strong>, the company demonstrates effective use of equity capital and strong financial performance.</p>
<p><strong>Return on Assets (ROA):</strong> Waste Management's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of <strong>1.52%,</strong> the company showcases efficient use of assets and strong financial health.</p>
<p><strong>Debt Management:</strong> Waste Management's debt-to-equity ratio is notably higher than the industry average. With a ratio of <b>2.35</b>, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.</p>
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
<p>Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.</p>
<p>Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Analyst Scoreboard: 15 Ratings For Waste Management

<p>Morgan Stanley  analyst Jeffrey Goldstein   maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Equal-Weight and raises the price target from $202 to $214.</p>


Morgan Stanley Maintains Equal-Weight on Waste Management, Raises Price Target to $214

<p>Truist Securities  analyst Tobey Sommer   maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Buy and raises the price target from $220 to $240.</p>


Truist Securities Maintains Buy on Waste Management, Raises Price Target to $240

<p>Stifel  analyst Michael Hoffman   maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Buy and raises the price target from $215 to $227.</p>


Stifel Maintains Buy on Waste Management, Raises Price Target to $227

<p>RBC Capital  analyst Walter Spracklin   maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Sector Perform and raises the price target from $211 to $215.</p>


RBC Capital Maintains Sector Perform on Waste Management, Raises Price Target to $215

Guidance

Waste Management Increases Full-year Financial Outlook For Adjusted Operating EBITDA And Cash Flow

Waste Management Cuts FY24 Revenue Growth Forecast From 6%-7% To 5%-5.75%

<p>Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) reported quarterly Adj earnings of $1.75 per share which beat the analyst consensus estimate of $1.51 by 15.89 percent. The company reported quarterly sales of $5.159 billion which missed the analyst consensus estimate of $5.208 billion by 0.93 percent. This is a 5.46 percent increase over sales of $4.892 billion the same period last year.</p>


Earnings Misses

Waste Management Q1 2024 Adj EPS $1.75 Beats $1.51 Estimate, Sales $5.159B Miss $5.208B Estimate

<p><strong>Waste Management's</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) short percent of float has fallen 15.38% since its last report. The company recently reported that it has <strong>4.42 million shares sold short</strong>, which is 1.1% of all regular shares that are available for trading. Based on its trading volume, <strong>it would take traders 2.85 days to cover their short positions on average.</strong></p>
<h3>Why Short Interest Matters</h3>
<p>Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.</p>
<p>Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.</p>
<p><strong>See Also:</strong> <a href="https://www.benzinga.com/short-interest"><strong>List of the most shorted stocks</strong></a></p>
<h3>Waste Management Short Interest Graph (3 Months)</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1713886216_0.png" alt="short_fig" /></p>
<p>As you can see from the chart above the percentage of shares that are sold short for Waste Management has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.</p>
<h3>Comparing Waste Management's Short Interest Against Its Peers</h3>
<p>Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.</p>
<p>According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Waste Management's peer group average for short interest as a percentage of float is 3.12%, which means the company has <strong>less</strong> short interest than most of its peers.</p>
<p>Did you know that increasing short interest can actually be <strong>bullish</strong> for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/"><strong>This post by Benzinga Money explains how you can profit from it.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and was reviewed by an editor.</em></p>


Short Sellers

Short Ideas

How Is The Market Feeling About Waste Management?

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</ul>
<h2 class="wp-block-heading">Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</h2>
<p>As the founder of Microsoft, Gates's investment in the tech giant remains a significant part of his portfolio. With 38,210,869 shares in hand and a dividend rate of $0.75 per share, Gates's annual income from Microsoft comes in at $114,632,607 – $313,203.84 per day. This investment not only signifies a nod to his legacy but also his belief in the company&#8217;s continued innovation and market dominance. Microsoft currently has a dividend yield of 0.73%</p>
<h2 class="wp-block-heading">Waste Management Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>)</h2>
<p>Waste Management Inc, North America's largest waste management company, aligns with Gates&#8217;s sustainable investment principles. Gates owns 35,234,344 shares, worth just over $6.3 billion. With a $0.75 quarterly dividend payment per share, his annual income from this is $105,703,032 – $288,806.10 per day. Waste Management&#8217;s current yield is 1.46%.</p>
<h2 class="wp-block-heading">Caterpillar Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>)</h2>
<p>Caterpillar Inc, renowned for its construction and mining equipment, is another key part of Gates's portfolio. He owns 7,353,614 shares, valued at approximately $2.17 billion. The quarterly dividend of $1.30 per share brings his annual income from Caterpillar to $38,238,792.80 – $104,477.58 per day. Caterpillar currently has a yield of 1.43%.</p>
<h2 class="wp-block-heading">Deere &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>)</h2>
<p>Deere &amp; Company, a leader in agricultural and construction machinery, is a significant investment for Gates. Holding 3,917,693 shares, worth about $1.42 billion, and with a dividend of $1.47 per share, Gates's annual income from Deere is $20,917,382.64 – $57,151.32 per day. Deere &amp; Company currently pays a 1.49% dividend yield.</p>
<p>These five investments contribute over $413 million to Gates's annual dividend income, which comes out to $1,129,150.74 per day. While Gates's investment strategy has been incredibly successful, it's important for individual investors to remember that replicating the strategies of prominent investors like Gates may not always align with their personal financial goals or risk tolerance. Each investor should tailor their approach to their own unique financial situation and investment objectives.</p>
<h2 class="wp-block-heading">Read Next:</h2>
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<li>Passive income investments are one of the most trusted methods for riding out a recession, so it's no surprise that people are turning to <a href="https://www.benzinga.com/real-estate/23/05/32554601/want-to-grow-your-wealth-passively-these-high-yield-real-estate-notes-might-be-your-holy-grail">high-yield real estate notes that pay a fixed 7.5% to 9%.</a></li>
<li>Whole Foods' landlord has delivered a 15% net IRR for its investors since 2015. <a href="https://www.benzinga.com/money/fnrp">Check out the latest investment opportunities added to its platform.</a></li>
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<p>RBC Capital  analyst Walter Spracklin   maintains Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) with a Sector Perform and raises the price target from $189 to $211.</p>


RBC Capital Maintains Sector Perform on Waste Management, Raises Price Target to $211

<p><strong>Waste Management's</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) short percent of float has fallen 5.8% since its last report. The company recently reported that it has <strong>5.20 million shares sold short</strong>, which is 1.3% of all regular shares that are available for trading. Based on its trading volume, <strong>it would take traders 3.75 days to cover their short positions on average.</strong></p>
<h3>Why Short Interest Matters</h3>
<p>Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.</p>
<p>Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.</p>
<p><strong>See Also:</strong> <a href="https://www.benzinga.com/short-interest"><strong>List of the most shorted stocks</strong></a></p>
<h3>Waste Management Short Interest Graph (3 Months)</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1712323813_0.png" alt="short_fig" /></p>
<p>As you can see from the chart above the percentage of shares that are sold short for Waste Management has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.</p>
<h3>Comparing Waste Management's Short Interest Against Its Peers</h3>
<p>Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.</p>
<p>According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Waste Management's peer group average for short interest as a percentage of float is 3.44%, which means the company has <strong>less</strong> short interest than most of its peers.</p>
<p>Did you know that increasing short interest can actually be <strong>bullish</strong> for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/"><strong>This post by Benzinga Money explains how you can profit from it.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and was reviewed by an editor.</em></p>


Looking Into Waste Management's Recent Short Interest

Waste Management, Inc. (WM) Q1 2024 Earnings Call Transcript

RBC Capital analyst Sabahat Khan initiated coverage with a Hold rating on Waste Management (WM – Research Report) yesterday and set a price target ...

Waste Management (WM) Gets a Hold from RBC Capital

Companies in the Industrial Goods sector have received a lot of coverage today as analysts weigh in on Union Pacific (UNP – Research Report), FTAI ...

Analysts' Opinions Are Mixed on These Industrial Goods Stocks: Union Pacific (UNP), FTAI Aviation (FTAI) and Waste Management (WM)

Goldman Sachs analyst Jerry Revich has reiterated their bullish stance on WM stock, giving a Buy rating today. Jerry Revich has given his Buy ratin...

Waste Management (WM): Strong Q1 Performance and Effective Cost Control Justify Buy Rating

Analysts have been eager to weigh in on the Industrial Goods sector with new ratings on Union Pacific (UNP – Research Report) and Waste Management ...

Analysts Conflicted on These Industrial Goods Names: Union Pacific (UNP) and Waste Management (WM)

CIBC analyst Kevin Chiang maintained a Hold rating on Waste Management (WM – Research Report) today and set a price target of $220.00. The company'...

CIBC Keeps Their Hold Rating on Waste Management (WM)

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>While the equities sector experienced a bump higher for the week ending April 26, potential headwinds incentivize the case for defensive stocks to buy.</p>



<p>First and foremost, the geopolitical headlines don&rsquo;t support continued bullishness. With tensions having already flared in the Middle East and a military conflict likely to worsen in Europe, these matters are not conducive to investor confidence.</p>



<p>Second, monetary policy is a huge talking point amid stickier-than-expected inflation. Plus, American <a href="https://money.com/auto-loan-credit-card-bill-delinquencies/#:~:text=Missing%20credit%20card%20payments&amp;text=Credit%20card%20delinquency%20rates%20for,highest%20level%20since%20mid%2D2011.">consumers are stretching themselves</a> to make ends meet, presenting a rough backdrop for overall economic stability. With that in mind, below are defensive stocks for concerned investors to consider.</p>



<h2>Procter &amp; Gamble (PG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/01/shutterstock_1073950868-300x169.png" alt="Procter &amp; Gamble Union Distribution Center. P&amp;G is an American Multinational Consumer Goods Company"><div>Source: Jonathan Weiss / Shutterstock.com</div></div><p><strong>Procter &amp; Gamble</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/pg-stock-quote/"><strong>PG</strong></a>) makes a very strong case for defensive stocks. As a consumer goods manufacturer, it&rsquo;s essentially relevant on a permanent basis. Technology isn&rsquo;t going to improve to the point where brushing our teeth is no longer required.</p>



<p>Another point working in P&amp;G&rsquo;s favor is not only brand power but its generational effect. Many kids grew up watching their parents or guardians use P&amp;G brands. It&rsquo;s very possible that, as a function of habit, as these kids become adults, they&rsquo;ll purchase the same brands.</p>



<p>On a financial note, the company is consistently profitable. It&rsquo;s not exciting. However, P&amp;G&rsquo;s positive earnings beat over the last four quarters averages 6.55%. Looking to the end of fiscal 2024, experts anticipate earnings per share to hit $6.55. That&rsquo;s up solidly from last year&rsquo;s print of $5.90.</p>



<p>On the top line, they&rsquo;re projecting revenue of $84.36 billion, up 2.9% from 2023&rsquo;s haul of $82.01 billion. Combined with a forward dividend yield of 2.5%, PG is one of the top defensive stocks to buy.</p>



<h2>Waste Management (WM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/03/waste-management-1600-300x169.jpg" alt="person depositing a plastic water bottle in a yellow plastic recycling bin. The bin is in a line-up of several other blue and green bins."><div>Source: shutterstock.com/PhotoByToR</div></div><p>You don&rsquo;t have to think too hard to understand why <strong>Waste Management</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/wm-stock-quote/"><strong>WM</strong></a>) is a top-tier candidate for defensive stocks. A specialist in the namesake business, the company benefits from permanent relevance. No matter how advanced we become as a society, we will produce waste. That&rsquo;s reality. That&rsquo;s physics.</p>



<p>What&rsquo;s more, land resources to provide waste solutions are of course limited. And as the U.S. becomes bigger population wise &ndash; through natural births and immigration &ndash; Waste Management (both the company and the industry) will become more critical. Further, because of the criticality, the business is entrenched.</p>



<p>Financially, the company is, as you might expect consistent. Yes, it missed its EPS target in the second quarter of 2023. However, over the last four quarters (inclusive of the Q2 miss), the average earnings beat came out to 7.43%. For fiscal 2024, experts are anticipating EPS to hit $6.96, above last year&rsquo;s result of $6.19.</p>



<p>Lastly, the top line should expand 6.3% from last year to reach $21.72 billion. With a dividend yield of 1.43%, it&rsquo;s another great idea for defensive stocks to consider.</p>



<h2>Southern Company (SO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/12/southern_company_so1600a-300x169.jpg" alt="the southern company logo displayed several times on a screen"><div>Source: 360b / Shutterstock.com</div></div><p>Natural monopoly &ndash; that&rsquo;s the phrase to know when it comes to <strong>Southern Company</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/so-stock-quote/"><strong>SO</strong></a>). Falling under the utilities industry, Southern engages in the generation, transmission and distribution of electricity. It also develops, constructs and manages power generation assets, including renewable energy projects. Given the steep barriers to entry &ndash; including regulatory considerations &ndash; Southern dominates its core markets.</p>



<p>Fundamentally, this dominance should last for the long haul, providing comfort to conserved investors. Not only that, SO makes for a candidate for defensive stocks because of the indispensable nature of the underlying service. Both individuals and enterprises need electricity to survive and thrive. Therefore, Southern favorably occupies the lowest run of the trade-down effect. That just means customers will axe other expenditures before they axe critical utilities.</p>



<p>Not surprisingly, Southern is a consistent financial performer. In fiscal 2023, its average positive earnings surprise came out to 7.73%. For the current fiscal year, experts are projecting EPS to hit $4, a decent improvement over last year&rsquo;s $3.65.</p>



<p>With a forward yield of 3.93%, SO is one of the defensive stocks to put on your radar.</p>



<h2>Costco (COST)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/03/cost1600-300x169.jpg" alt="A Costco Wholesale (COST) warehouse in Auburn Hills, Michigan."><div>Source: ilzesgimene / Shutterstock.com</div></div><p>The case for <strong>Costco</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/cost-stock-quote/"><strong>COST</strong></a>) as one of the defensive stocks comes down to relative economic insulation. Generally speaking, Costco members tend to generate higher incomes than shoppers of competing big-box retailers. Because of this higher income profile, COST should be able to better weather disruptions.</p>



<p>On a fundamental note, Costco provides all the essentials. Further, because of its business model of incentivizing bulk purchases, it could be a <a href="https://www.tipranks.com/news/article/costco-wholesale-cost-stock-tactical-operator-against-inflation">cynical inflation winner</a>. If consumers anticipate the dollar&rsquo;s value to be eroded in the future, there is an incentive to buy more products today. And since Costco shoppers make more money on average, I&rsquo;d assume they are sophisticated enough to understand monetary policy dynamics.</p>



<p>Financially, Costco suffered a big miss in its quarter ended May 31, 2023. However, in the past three quarters, its average positive earnings surprise came out to 4.83%. For the current year, analysts are projecting EPS of $16.18 on revenue of $253.95 billion. Last year, the company posted EPS of $14.16 on sales of $242.29 billion.</p>



<h2>Coca-Cola (KO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/08/shutterstock_1646970103-300x169.jpg" alt="KO stock PEP stock: a can of Coca-cola and a can of Pepsi on either side of a glass of brown soda and sitting on top of a pile of ice"><div>Source: monticello / Shutterstock</div></div><p>Under the context of defensive stocks, <strong>Coca-Cola</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/ko-stock-quote/"><strong>KO</strong></a>) is a cynical gamble on consumer discretionary trends. Recent data on inflation noted that consumer prices have been elevated more than anticipated. That&rsquo;s largely due to increases in energy prices &ndash; and those prices may not recede. Indeed, I anticipate that they will rise based on the current geopolitical framework.</p>



<p>Therefore, Coca-Cola could become a beneficiary of the trade-down effect. Right now, consumers may be comfortable forking over big bucks for their fancy lattes at their favorite coffee shops. However, should circumstances become more pressured, people may choose cheaper alternatives for their caffeine. That&rsquo;s where the famous beverage maker could rise above the muck.</p>



<p>To be sure, the company isn&rsquo;t exactly providing the thrills. Still, in the past four quarters, the average earnings surprise came out to 5.23%. By the end of this fiscal year, experts are looking for EPS to hit $2.81, above the prior year&rsquo;s $2.69.</p>



<p>Average consensus revenue calls for $45.85 billion, which is only at parity with 2023&rsquo;s haul. However, the trade-down effect could push sales to the higher end of the estimated spectrum at $46.85 billion.</p>



<h2>Abbott Laboratories (ABT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/01/abt-stock-300x169.jpg" alt="Close up of Abbott Laboratories sign at their headquarters in Silicon Valley"><div>Source: Sundry Photography/Shutterstock.com</div></div><p><strong>Abbott Laboratories</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/abt-stock-quote/"><strong>ABT</strong></a>) makes an ideal case for defensive stocks because of its alignment with the always-relevant healthcare industry. Abbott of course is a powerhouse in the field. <a href="https://finance.yahoo.com/quote/ABT/profile/">Per its public profile</a>, the company operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Medical Devices. The company provides a range of solutions that are too numerous to list here.</p>



<p>With Abbott, the bottom line is, well, the bottom line. In the past four quarters, the company&rsquo;s average earnings surprise came out to 2.43%. No, it&rsquo;s not lighting up the board by any means. However, defensive stocks have always been about delivering the goods irrespective of outside circumstances. That&rsquo;s what Abbott does.</p>



<p>For fiscal 2024, analysts are looking for EPS of $4.63. That&rsquo;s a solid step up from last year&rsquo;s print of $4.44. On the revenue front, they&rsquo;re targeting $41.74 billion, a 4.1% lift from 2023&rsquo;s tally of $40.11 billion. Combined with a forward yield of 2.05%, ABT should be on your radar.</p>



<h2>Realty Income (O)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/realty1600-300x169.jpg" alt="realty income logo highlighted by a magnifying glass on a web browser"><div>Source: Shutterstock</div></div><p>Structured as a real estate investment trust, <strong>Realty Income</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/o-stock-quote/"><strong>O</strong></a>) is one of the riskier ideas among defensive stocks. Since the start of the year, shares slipped more than 8%. In the past 52 weeks, they&rsquo;re down almost 15%. Still, the REIT commands a massive retail footprint, with tenants from myriad industries.</p>



<p>Put another way, unless you envision a future where people no longer go to hardware stores or the local pharmacy to pick up their prescription drugs, Realty Income should benefit from permanent relevance. In fairness, the REIT&rsquo;s financial performance has been all over the map last fiscal year. Its quarterly surprise came out to 3.63% below breakeven.</p>



<p>However, analysts believe that fiscal 2024 could see Realty deliver EPS of $1.53. If so, that&rsquo;s a significant boost from last year&rsquo;s $1.26. Also, revenue could soar to $4.94 billion, up 21% from 2023&rsquo;s haul of $4.08 billion.</p>



<p>What may do it for investors, though, is the dividend. With a yield of 5.74%, it&rsquo;s very attractive. Plus, it pays out monthly.</p>



<p><em>On the date of publication, Josh Enomoto</em><em> did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;</em><em>The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;</em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank"><em>Publishing Guidelines</em></a><em>.</em><em></em></p>
<div><p>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</p></div><h3>More From InvestorPlace</h3>
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7 Defensive Stocks Built to Withstand the Market's Worst Storms

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