"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. U.S. Waste Services, which had been a publicly traded company since 1987, acquired Waste Management in 1998."
"The stock has generated total returns of more than 959% over three decades, about the same as 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 7.9% annually for the past 10 years."
"Shares of Waste Management Inc. ( NYSE: WM) reached a $242.58 all-time high last June. They are down 6.7% since then, despite rising 3.7% in the past month. In the past 90 days, the stock has outperformed the S&P 500. As the market continues to run higher since a significant downturn last spring, this industrials sector staple maintains its position as a defensive stock, with this company currently boasting 84% institutional ownership."
Waste Management shares peaked at $242.58 last June, declining 6.7% since that high while rising 3.7% in the past month and outperforming the S&P 500 over the past 90 days. The company is characterized as a defensive industrials stock with 84% institutional ownership. Origins trace to 1893, followed by expansion through Wayne Huizenga’s acquisition strategy and a 1998 acquisition by U.S. Waste Services. The stock has delivered over 959% total returns across three decades. Dividend payments began after the merger, with annual increases since 2004 and growth from $0.75 to $3.30 per share, a 7.9% ten-year CAGR.
Read at 24/7 Wall St.
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