5 Best Environmental Stocks to Invest In

3. Waste Management, Inc. (NYSE:WM)

Number of Hedge Fund Holders: 40

Waste Management, Inc. (NYSE:WM) provides waste management and environmental services to residential, commercial, industrial, and municipal customers in North America. Waste Management, Inc. (NYSE:WM) operates 346 transfer stations, 293 active landfill disposal sites, 146 recycling plants, 111 beneficial-use landfill gas projects, and six independent power production plants. The company is a leader in the waste management industry and operates a fleet of 26,000 collection and transfer vehicles, thus making it a pure-play environmental stock to invest in.

On June 22, Morgan Stanley analyst Toni Kaplan trimmed his price target on Waste Management, Inc. (NYSE:WM) to $160 from $165 but maintained an Equal Weight rating on the shares. Moreover, Waste Management, Inc. (NYSE:WM) was also a top recession stock pick of Wells Fargo analysts.

At the end of Q1 2022, 40 hedge funds were long Waste Management, Inc. (NYSE:WM) with stakes worth $4.13 billion. This is compared to 35 positions in the previous quarter with stakes worth $4.17 billion.

As of Q1 2022, Bill & Melinda Gates Foundation Trust owns more than 18.6 million shares of Waste Management, Inc. (NYSE:WM) and is the largest shareholder in the company. The investment covers 14.94% of Bill & Melinda Gates Foundation Trust’s 13F portfolio.