AMI Asset Management Corp Lowers Stake in Casella Waste Systems, Inc. $CWST

Key Points

• AMI Asset Management Corp reduced its stake in Casella Waste Systems by 45.2% in the second quarter, now owning 7,815 shares valued at approximately $902,000.
• Several hedge funds, including Maseco LLP and Argent Capital Management, acquired new stakes in Casella Waste Systems during the same period, highlighting strong institutional interest with 99.51% of shares held by institutional investors.
• Analysts have mixed ratings on Casella Waste Systems, but the stock has recently experienced a 4.2% decline, trading at $90.89, while the average price target stands at $112.38.

AMI Asset Management Corp reduced its position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 45.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,815 shares of the industrial products company's stock after selling 6,441 shares during the quarter. AMI Asset Management Corp's holdings in Casella Waste Systems were worth $902,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Maseco LLP purchased a new stake in shares of Casella Waste Systems during the 2nd quarter worth about $25,000. Argent Capital Management LLC purchased a new stake in shares of Casella Waste Systems during the 2nd quarter worth about $639,000. Park Avenue Securities LLC purchased a new stake in shares of Casella Waste Systems during the 2nd quarter worth about $898,000. Assenagon Asset Management S.A. purchased a new stake in shares of Casella Waste Systems during the 2nd quarter worth about $246,000. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Casella Waste Systems by 6.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 67,800 shares of the industrial products company's stock worth $7,823,000 after acquiring an additional 3,942 shares in the last quarter. 99.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Casella Waste Systems in a research note on Monday. They issued a "buy" rating and a $113.00 price target on the stock. Barclays assumed coverage on shares of Casella Waste Systems in a research note on Friday, September 19th. They issued an "underweight" rating and a $88.00 price target on the stock. William Blair reaffirmed an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. Raymond James Financial set a $125.00 price target on shares of Casella Waste Systems and gave the company a "strong-buy" rating in a research note on Monday, August 4th. Finally, Cowen reaffirmed a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $112.38.

Casella Waste Systems Stock Down 4.2%

CWST stock opened at $90.89 on Thursday. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 504.94 and a beta of 0.84. The company has a current ratio of 1.70, a quick ratio of 1.61 and a debt-to-equity ratio of 0.72. Casella Waste Systems, Inc. has a 12 month low of $85.21 and a 12 month high of $121.24. The firm has a 50-day moving average of $97.20 and a two-hundred day moving average of $108.24.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. The company had revenue of $465.33 million during the quarter, compared to the consensus estimate of $454.01 million. Casella Waste Systems had a net margin of 0.64% and a return on equity of 4.97%. Casella Waste Systems's quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. Casella Waste Systems has set its FY 2025 guidance at EPS. As a group, analysts forecast that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

About Casella Waste Systems

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.

Want to see what other hedge funds are holding CWST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.