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Is Waste Management a Safe Dividend Stock to Buy Right Now?

Waste Management (WM) is presented as a potentially safe dividend stock, offering diversification due to its low correlation with macroeconomic activity. Despite a lowered revenue outlook, the company forecasts profit expansion driven by efficiency improvements. The stock's valuation is now considered fair, trading at a forward P/E of 23, down from over 30 a year ago. The author's DCF model suggests a fair value of $199 per share, with the current market price of $211 indicating it's fairly valued, especially with a margin of safety.

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Waste Management is considered fairly valued at its current market price of $211, with a fair value estimate of $199 per share based on DCF and forward P/E multiples.

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