Valued at $90.9 billion by market cap, Houston, Texas-based Waste Management, Inc. (WM) operates as a leading provider of comprehensive waste management services in North America. Its offerings include collection, transfer, recycling, and resource recovery, as well as disposal services to residential, commercial, industrial, and municipal customers.

Companies worth $10 billion or more are generally described as “large-cap stocks.” WM fits this bill perfectly. Given the company’s extensive operations and dominance in the waste management industry, its valuation above this mark is unsurprising.

WM stock touched its all-time high of $242.58 on Jun. 3 and is currently trading 7.5% below that peak. Meanwhile, the stock has declined 6.6% over the past three months, notably underperforming the Industrial Select Sector SPDR Fund’s (XLI) 4.2% uptick during the same time frame.

Over the longer term, WM stock prices have surged 11.2% on a YTD basis and gained 7.2% over the past 52 weeks, lagging behind XLI’s 13.7% gains in 2025 and 16.5% returns over the past year.

To confirm the overall uptrend and recent downturn, WM stock has traded mostly above its 200-day moving average over the past year with some fluctuations. Meanwhile, the stock has dropped below its 50-day moving average in recent weeks.

Waste Management’s stock prices rose 3.4% in the trading session following the release of its impressive Q2 results on Jul. 28. The quarter was marked with robust organic revenue growth in its collection and disposal business, along with margin expansion. The company achieved its best-ever operating expense margin during the quarter.

Overall, WM’s operating revenues surged 19% year-over-year to $6.4 billion, exceeding the Street expectations by 1.4%. Meanwhile, its adjusted EBITDA increased 18.9% year-over-year to $1.9 billion. Further, its adjusted EPS of $1.92 surpassed the consensus estimates by 1.6%.

However, Waste Management has underperformed its peer, Republic Services, Inc.’s (RSG) 15.6% gains on a YTD basis and 13% surge over the past 52 weeks.

Among the 23 analysts covering the WM stock, the overall consensus rating is a “Moderate Buy.” As of writing, its mean price target of $260.71 suggests a 16.2% upside potential from current price levels.