Mad Money Spotlight: Waste Management
Waste management (WMI) is poised to prosper, Jim Cramer said in his "Mad Money" broadcast Monday evening.
He noted that the big trash hauler and recycler is raising its prices, that its collections have increased by 8%, that it has a dividend yield of 4.2% and that it remains a highly acquisitive outfit, on the prowl for growth.
The Houston company will pay a dividend of 29 cents a share on June 19, to shareholders as of May 27.
Waste Management shares were trading slightly higher Monday afternoon, at $28.83. Year to date, the company's stock has fallen 19%. But, Cramer said, it's gained back more than half those declines since he last recommended the stock on March 18. He said there remains plenty of room for the price to go higher, especially when the housing market eventually recovers.
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