"Shares of Waste Management Inc. ( NYSE: WM) reached a $242.58 all-time high last June. They are down 9.9% since then, despite rising 2.0% in the past month. In the past 90 days, the stock has underperformed the S&P 500. As the market continues to run higher since a significant downturn early last year, this industrials sector staple maintains its position as a defensive stock, with this company currently boasting 84% institutional ownership."
"Although Waste Management is a trash-hauling behemoth today, it had humble beginnings. Harm Huizenga began picking up garbage in Chicago in 1893 for $1.25 per wagonload. About 75 years later, his grandson Wayne Huizenga resurrected the family business, founded Waste Management, and quickly undertook a growth-by-acquisition strategy, buying up hundreds of small trash collection services across the country. Those days are long gone."
"The stock has generated total returns of more than 1,701% over three decades, compared to an almost 1,360% return by the S&P 500. The trash hauler began paying a dividend when the two companies merged, and it has consistently increased the payout every year since 2004. Since then, the dividend has grown from $0.75 per share to $3.30 per share, and it has raised the payout by a compound growth rate of 7.2% annually for the past 10 years."
Shares of Waste Management reached an all-time high of $242.58 last June, then fell 9.9% since that peak while rising 2.0% in the past month. The stock underperformed the S&P 500 over the past 90 days. The company maintains defensive characteristics and has 84% institutional ownership. Waste Management began as a family garbage-collection business in Chicago in 1893 and expanded through acquisitions under Wayne Huizenga. U.S. Waste Services acquired Waste Management in 1998 and adopted the Waste Management name. The stock returned more than 1,701% over three decades versus about 1,360% for the S&P 500. The dividend began after the merger, has increased annually since 2004, rising from $0.75 to $3.30 and growing at a 7.2% compound annual rate over the past ten years.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]