Below is a recap of last week's portfolio updates. Click here to read the Weekly Roundup posted on Friday.
Initiations/Exits
Waste Management (WM) -- Last Tuesday, we initiated a position in Waste Management. We are bullish in the name due to the company's industry leadership, commitment to technology, and strong history of returning value to shareholders. In addition, the company's involvement to the post-hurricane cleanup efforts in Florida and Texas represents a catalyst event that will boost earnings. Pleaseread here for more information about our most recent initiation.
Newell Brands (NWL) -- Also on Tuesday, we exited our position in Newell Brands. We used our sale to make room in our portfolio for Waste Management, as well as rebuild our cash to increase our optionality. Due to our light weighting relative to our other holdings and lack of true catalyst capping potential upside, we did not feel the need to hold on to this position longer. In addition, headwinds from the retail industry and tightening margins from Hurricane Harvey will likely continue to pressure the stock in the short-term. Please read here for more information about our exit.
Price Target Updates
None
Ratings Changes
None
Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long WM.