As an income minded investor, there a few factors to consider when looking for the best long-term dividend stocks. These include strong fundamentals, great entry points, increasing dividend distributions over time, and a history of bullish trading activity in shares. With that in mind, let’s have a look at two stocks that fit this criterion.
WM: Top Dividend Stock To Watch For
Waste management stock is set to benefit from the growing population of the world and urbanization.
According to Allied Market Research, the global waste management market is set to register a compounded annual growth rate (CAGR) that will reach $530 billion between 2019 and 2025.
Given that locations to dump waste are also reducing leading to the demand for innovative ways to enhance the collection and recycling of waste, it’s easy to see why this industry is headed for the good times.
According to one analyst, in 2019, solid waste players are on track to produce gains of 2.5% to 5%, all thanks to network density and asset utilization, which help support price power.
These figures are expected to be even higher in 2020.
With that in mind, let’s take a look at one waste management company whose stock is likely to see substantial gains soon; Waste Management, Inc.
A Brief History Of Waste Management, Inc
Waste Management, Inc is a waste management and environmental services company that is based in America.
It was founded in 1968 by Wayne Huizenga, Dean Buntrock, and Lawrence Beck. The company has its headquarters in Houston, Texas.
Waste Management network includes more 346 transfer stations with 146 recycling plants, 293 active landfill disposal sites, six independent power production plants, and 111 beneficial use landfill gas projects.
The company offers environmental services to almost 21 million commercial, industrial, residential, and municipal customers in the US, Canada, and Puerto Rico.
3M (NYSE: MMM)
3M is a Tech company that manufactures, consumer safety, and industrial products.
The Company operates through five segments, namely Health Care, Safety & Graphics, Electronics & Energy, and Consumer. The Company’s stock (NYSE: MMM) has attracted different sentiments from investors and critics.
This article will provide reasons why you should consider buying the 3M stock (NYSE: MMM), and highlight a few concerns you should be aware of.
A Brief History Of MMM, Famous Stock with Dividends
In 2014, MMM stock’s all-time high was at $167.17, and the all-time low was at $164.2. Fast-forward to last year, the all-time high closed at $258.63, in January.
Its 52-week low stock price is $150.58, which is 14.1% below the current share price. The average price for the last 52 weeks is $180.00.
What Analysts Think About MMM Stock
Based on analysts offering 12-month price targets for MM in the last three months.
The average price target is $172.56, with a high estimate of $200 and a low estimate of $150.
In summary, the information above reveals an unclear future for the MMM stock, which has kept investors on their toes.
However, it is clear that 3M Company has a bright future; thus, you should consider buying one of the best dividend tech stocks.
Why Buy 3M Stock
There’s an old saying on Wall Street that says the best time to purchase a stock is when there’s ‘blood in the streets.’ Understandably, investors are looking at 3M and thinking that this is the best time to buy. This, in turn, has the company looking relatively cheap compared to its own history.
For instance, the trailing price-to-earnings ratio was an average of 19 in the past 14 days versus a 5-year average of about 23.
The price-to-sales ratio is 2.9 times compared to the longer-term average of 3.65. Meanwhile, the dividend yield is at its highest level since the last financial crisis. In many ways, MMM looks like the stock to buy at the moment.
There is a chance you may not find one of these long term dividend stocks to your liking; however, each offers a compelling mix of yield and opportunity, which is hard to match. If you research on Waste Management (NYSE: WM) and 3M (NYSE: MMM), you will probably find maybe one or both on your buy list.