Waste Management (WM) and Republic Services' (RSG) Trash is Investors' Gain - Barron's
More News related to RSG
- Republic Services, Inc. Announces Redemption of 6.125% Senior Notes Due 2014
- RecycleBank, Allied Waste Partner to Bring Rewards-for-Recycling Program to Alabama
- Action Carting Environmental Announces Acquisitions
- Notable Analyst Rating Changes 1/11: GLW, STX, INTC, STP, JRJC, More Upgraded; NTRS, PG, DIS, YGE, More Downgraded
- Morgan Stanley Initiates Coverage on Republic Services (RSG) with an Overweight
More News related to WM
- Wallbridge Mining Increases Shareholding in Duluth Metals Limited
- Waste Management (WM) Will Invest to Expand Harvest Powers Recycling Facilities Across N.A.
- Waste Management and Harvest Power Announce Agreement to Advance Renewable Energy and Organics Recycling in North America
- Waste Management of Orange County Deploys New Natural Gas Trucks
- Wedbush Initiates Coverage on Waste Connections (WCN) and Waste Management (WM) at Outperform
More News related to General News
- Larry Summers Claims Lobbyists Are Slowing Down Financial Reform
- U.S. FDA to Become More Stringent on Medical Imaging Equipment (GE, SI)
- Stocks Rally On Hopes for a "Big Fat" Greek Bailout
- comScore (SCOR) Reports e-Commerce Spending Up Marginally for Q409 (AMZN, EBAY, BKS, MALL, More...)
- Cadbury (CBY) to Continue Idling of Somerdale Manufacturing Facility, Despite Talks with Kraft (KFT)
According to a Barron's article, investment Grand Poobah Warren Buffett bought 3.62 million shares of Republic Services (NYSE: RSG) last week. Republic is the number 2 player in the waste-management service sector, a $56 billion sector. Bill Gates doubled also his holdings in Waste Management (NYSE: WM) to nearly 16 million shares, recently, and has an investment vehicle with a 15% in Republic Services.
Through the downturn of the economy, Republic, WM, and others have been cutting costs while increasing prices.
Both Waste Management and Republic beat on third quarter earnings, and raised and affirms FY09 views. Republic raised their adjusted EPS estimates to $1.46 - $1.48/share, Waste Management reaffirmed their prior guidance.
Republic CEO Jim O'Connor sees his stock as significantly undervalued as he points out that discounted cash-flow has the stock valued at $30. An investor at Highmark Value Momentum Fund sees Waste Management reaching $40 or more.
YTD sees Republic Services up 16% and Waste Management up 4% as of early afternoon trading today.
Related Categories
General NewsStocks Mentioned
+0.25Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
