Company Overview - Waste Management, Inc. (NYSE: WM) is a leading provider of comprehensive waste management services in North America, offering collection, transfer, recycling, and disposal services [1] - The company competes with other waste management firms such as Republic Services and Waste Connections [1] Recent Executive Activity - WM's CEO, James C. Fish Jr., sold 5,706 shares at $230.87 each, while retaining 220,087 shares [1][5] Institutional Investment - Envestnet Asset Management Inc. increased its stake in WM by 16.9% in the third quarter, acquiring an additional 144,860 shares, bringing its total to 1,001,706 shares, valued at $221.2 million [2] - Peregrine Asset Advisers Inc. boosted its holdings by 372.5% to 5,046 shares, valued at $1.1 million [3] - Telos Capital Management Inc. also increased its position in WM by 10.1% [3] Stock Performance - WM's stock is currently priced at $232.03, reflecting a $1.53 increase or 0.66% rise [4] - The stock has fluctuated between $229 and $233.50 today, with a year-high of $242.58 and a low of $194.11 [4][5] - WM's market capitalization is approximately $93.48 billion, with a trading volume of 1,040,699 shares [4]

Core Insights - Waste Management, Inc. operates one of North America's largest environmental services platforms with a market cap of $91.4 billion, focusing on waste collection, recycling, disposal, and energy conversion from landfill gas [1] Stock Performance - Over the past 52 weeks, WM stock gained 2.5%, underperforming the S&P 500 Index's 15.6% gain, but year-to-date, WM stock rose 4.9%, outperforming the broader market's 1.7% increase [2] - The State Street Industrial Select Sector SPDR ETF (XLI) has increased by 26.5% over the past year and 12% year-to-date, highlighting the sector's strong performance compared to WM [3] Q4 2025 Earnings Results - In Q4 2025, Waste Management reported revenue of $6.31 billion, which was below the expected $6.39 billion, despite a year-over-year increase of 7.1%, leading to a nearly 3.7% decline in shares [5] - Adjusted EPS was reported at $1.93, slightly below the consensus estimate of $1.95, but showed a year-over-year improvement of 13.5 [6] Margin and EBITDA Performance - Operating adjusted EBITDA in the Legacy Business rose by 10.1% in 2025, with margins expanding by 150 basis points to 31.5% [6] - Healthcare Solutions improved adjusted EBITDA margins by 180 basis points to 16.9% [6] Management Outlook - For 2026, management projects operating EBITDA between $8.15 billion and $8.25 billion, with free cash flow expected to be between $3.7 billion and $3.8 billion, reflecting the strength of Waste Management's solid waste network and investments in various projects [7] - Analysts anticipate diluted EPS of $8.14 for fiscal year 2026, indicating an 8.5% year-over-year growth, with Waste Management having beaten EPS expectations in two of the past four quarters [8]

Group 1: ClearBridge Investments Overview - ClearBridge Investments released its "ClearBridge Mid Cap Strategy" Q4 2025 investor letter, reporting underperformance compared to the Russell Midcap Index, which returned 0.16% during the period [1] - The underperformance was attributed to narrow market leadership and sentiment-driven trading, with weaknesses in information technology and real estate holdings impacting returns, while gains in select consumer discretionary stocks provided partial support [1] - The firm noted that elevated dispersion and uneven earnings reactions continued to shape mid-cap equity performance during the quarter [1] Group 2: Future Outlook - The portfolio management team expressed cautious optimism, indicating that improving clarity around policy, interest rates, and business investment could create a more favorable backdrop for active stock selection [1] - The widening valuation gaps and strengthening fundamentals across many mid-cap companies were highlighted as positive indicators for future performance [1] Group 3: Casella Waste Systems Inc. Insights - ClearBridge Investments initiated positions in Casella Waste Systems Inc. (NASDAQ:CWST), a residential waste services provider, following a transitory selloff related to minor acquisition integration issues [3] - The company has a high proportion of recurring revenue, which supports durable long-term growth, and limited exposure to near-term AI disruption [3] - Casella Waste Systems Inc. has a market capitalization of approximately $6.501 billion, with shares trading between $82.2 to $121.24 over the last 52 weeks [2] Group 4: Hedge Fund Interest - Casella Waste Systems Inc. was held by 26 hedge fund portfolios at the end of the third quarter, an increase from 24 in the previous quarter [4] - Despite the interest, the company is not among the 30 most popular stocks among hedge funds, with a belief that some AI stocks may offer greater promise for higher returns in a shorter time frame [4]

Core Viewpoint - Casella Waste Systems, Inc. is set to release its financial results for Q4 2025 on February 19, 2026, after market close [1] Group 1: Financial Results Announcement - The financial results will cover the three months ended December 31, 2025 [1] - The announcement will be made after the market closes on February 19, 2026 [1] Group 2: Conference Call Details - A conference call to discuss the financial results will take place on February 20, 2026, at 10:00 a.m. Eastern Time [2] - Interested participants must register to obtain dial-in and passcode details [2] - The call will also be available via webcast on the company's website [2] Group 3: Additional Information - A replay of the conference call will be accessible on the company's website following the event [2] - For further inquiries, contact Brian J. Butler, VP of Investor Relations [3]

Group 1 - WaterBridge Infrastructure LLC (NYSE:WBI) experienced a significant share price increase of 18.76% from January 7 to January 14, 2026, making it one of the top-performing energy stocks for that week [1] - The company is recognized as the largest pure-play integrated water infrastructure provider in the U.S., offering essential services such as supply, recycling, and disposal to oil and gas producers across key shale basins [2] - Analyst Justin Jenkins from Raymond James upgraded WaterBridge Infrastructure from 'Outperform' to 'Strong Buy' on January 5, maintaining a price target of $30, indicating a positive outlook for the midstream supplier sector as it enters 2026 [3] Group 2 - The company's stock received additional support after CEO Jason Thomas Long purchased 5,000 Class A shares valued at $99,200 on January 5, alongside other insider investments, reflecting strong leadership confidence in the company's future [4]

Core Insights - Republic Services, Inc. (RSG) is a leading provider in the environmental and waste management sector, with a market capitalization of $67.2 billion, offering a range of services including non-hazardous solid waste collection and recycling [1] Company Overview - RSG is classified as a large-cap stock, reflecting its significant size and influence in the waste management industry, supported by strong operational footprint and customer retention [2] - The company has experienced a 16.1% decline from its 52-week high of $258.75, reached on June 3, and a 6.9% decrease over the past three months, underperforming the Industrial Select Sector SPDR Fund (XLI) [2] Stock Performance - Year-to-date, RSG shares are up 7.9%, while XLI has returned 16.6%, indicating underperformance in the longer term as RSG has decreased slightly over the past 52 weeks compared to XLI's 7.3% increase [3] - RSG has been trading below its 200-day moving average since early September and below its 50-day moving average since late June, confirming a bearish trend [3] Financial Performance - In Q3, RSG reported a revenue growth of 3.3% year-over-year to $4.2 billion, which was below analyst expectations due to cyclical volume pressures [4] - The company achieved an 80-basis-point increase in adjusted EBITDA margin, contributing to a 5% year-over-year rise in adjusted EPS to $1.90, exceeding consensus estimates by 7.3% [4]

Core Insights - Waste Management, Inc. (WM) is valued at a market cap of $87.6 billion and provides waste collection, recycling, and environmental services across various customer segments [1] - WM is classified as a large-cap stock, reflecting its significant size and influence in the waste management industry, and it is enhancing its competitive position through investments in automation and sustainability [2] Financial Performance - WM's shares have decreased by 10.4% from its 52-week high of $242.58, reached on June 8, and have declined 3.5% over the past three months, slightly underperforming the VanEck Environmental Services ETF (EVX) which dropped 3.3% [3] - Year-to-date, WM shares are up 7.7%, while EVX has returned 12.4%, and over the past 52 weeks, WM has fallen 4.4%, underperforming EVX which has seen a slight increase [4] - On October 27, WM reported Q3 earnings that were weaker than expected, with revenue increasing 14.9% year-over-year to $6.4 billion, but missing analyst expectations [5] - The adjusted EPS for WM was $1.98, a 1% increase from the previous year, but fell short of consensus estimates by 1.5% [5] - WM has lowered its fiscal 2025 revenue outlook to approximately $25.3 billion, attributed to ongoing weakness in recycled commodity pricing and lower revenue expectations from WM Healthcare Solutions [5]

Core Insights - Waste Management, Inc. (NYSE:WM) is recognized as one of the 15 Best Long Term Stocks to Buy according to Reddit [1] - Wells Fargo initiated coverage on Waste Management with an Overweight rating and a price target of $238, projecting approximately 20% growth in unit profitability and about 40% improvement in free cash conversion over the next two years [2] - In Q3, Waste Management reported $6.4 billion in revenue, a 15% increase year-over-year, although operating income decreased by 12% to $989 million due to noncash expenses [3] Business Strategy - The company is advancing its landfill gas-to-energy strategy, which captures methane from landfills and converts it into renewable natural gas, providing a carbon-neutral alternative to fossil fuels [4] - Acquisitions are a key growth driver, with Waste Management spending $7.2 billion to acquire Stericycle, enhancing its position in the healthcare waste sector and enabling operational efficiencies [5] - Waste Management's core operations encompass the entire waste management process, including collection, transportation, recycling, landfilling, and treatment [6]

Group 1 - Technology stocks have been performing exceptionally well over the past decade, driven by transformative products that have changed consumer behavior [1] - Many investors have overlooked simpler businesses, such as waste management and staffing uniform providers, which are not as flashy but are essential [2] - Companies in the Consumer Staples sector, like Cintas and Waste Management, have shown steady demand regardless of economic conditions, providing stability against market volatility [3] Group 2 - Cintas (CTAS) has experienced a +780% increase over the last decade, significantly outperforming the S&P 500's +300% gain, with an annualized return of +24.2% [4] - Waste Management (WM) shares have risen by 385% over the past decade, also surpassing the S&P 500's performance, and have shown resilience during market downturns [5] - Both Cintas and Waste Management demonstrate that strong returns can be achieved through consistent and dependable growth in less glamorous sectors [6][7]

Core Viewpoint - CIBC maintains a "Neutral" rating on Waste Management, Inc. (WM) while reducing its price target from $235 to $231, emphasizing the need for consistent revenue growth to realize long-term earnings potential from the Stericycle acquisition [1] Financial Performance - Waste Management reported Q3 2025 results showing strong momentum in its legacy segment, with Collection and Disposal revenue benefiting from a 6% increase in core pricing and stable industrial volumes [2] - Operating margins improved by 160 basis points due to cost discipline, although revenue was affected by lower recycled commodity prices [2] - Free cash flow for the first nine months of the year increased by 13.5% year-over-year to $2.11 billion [2] Future Outlook - The company is confident in its full-year guidance for adjusted EBITDA, projected to be between $7.475 billion and $7.625 billion, driven by ongoing integration progress at WM Healthcare Solutions [3] - Waste Management serves a diverse customer base, including residential, commercial, and industrial clients, providing waste collection, recycling, and renewable energy services [3]