Argent Capital Management LLC Acquires Shares of 5,540 Casella Waste Systems, Inc. $CWST

Key Points

• Argent Capital Management LLC acquired 5,540 shares of Casella Waste Systems, valued at approximately $639,000, during the 2nd quarter.
• Institutional investors hold 99.51% of Casella Waste Systems stock, with significant increases in stakes from firms like Bank of New York Mellon Corp and Invesco Ltd.
• Casella Waste Systems reported a 23.4% year-over-year revenue growth with earnings per share of $0.36, exceeding analysts' expectations.

Argent Capital Management LLC acquired a new stake in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,540 shares of the industrial products company's stock, valued at approximately $639,000.

Several other institutional investors also recently bought and sold shares of CWST. Bank of New York Mellon Corp increased its stake in Casella Waste Systems by 157.6% in the 1st quarter. Bank of New York Mellon Corp now owns 740,000 shares of the industrial products company's stock valued at $82,517,000 after buying an additional 452,776 shares during the period. Invesco Ltd. increased its stake in Casella Waste Systems by 18.3% in the 1st quarter. Invesco Ltd. now owns 2,165,010 shares of the industrial products company's stock valued at $241,420,000 after buying an additional 334,790 shares during the period. Select Equity Group L.P. increased its stake in Casella Waste Systems by 617.0% in the 1st quarter. Select Equity Group L.P. now owns 205,795 shares of the industrial products company's stock valued at $22,948,000 after buying an additional 177,093 shares during the period. Voya Investment Management LLC increased its stake in Casella Waste Systems by 60.9% in the 1st quarter. Voya Investment Management LLC now owns 450,111 shares of the industrial products company's stock valued at $50,192,000 after buying an additional 170,368 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Casella Waste Systems by 112.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 318,035 shares of the industrial products company's stock valued at $35,464,000 after buying an additional 168,003 shares during the period. 99.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CWST shares. Cowen reaffirmed a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 6th. Raymond James Financial set a $125.00 price target on shares of Casella Waste Systems and gave the stock a "strong-buy" rating in a research note on Monday, August 4th. Loop Capital raised shares of Casella Waste Systems from a "hold" rating to a "buy" rating and set a $88.00 price target on the stock in a research note on Friday. William Blair reaffirmed an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. Finally, Barclays started coverage on shares of Casella Waste Systems in a research note on Friday. They set an "underweight" rating and a $88.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $114.38.

Casella Waste Systems Stock Up 2.6%

Shares of NASDAQ:CWST opened at $88.92 on Tuesday. Casella Waste Systems, Inc. has a 52-week low of $85.21 and a 52-week high of $121.24. The company has a quick ratio of 1.61, a current ratio of 1.70 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 494.00 and a beta of 0.84. The company has a 50 day moving average of $99.73 and a two-hundred day moving average of $109.05.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.05. Casella Waste Systems had a net margin of 0.64% and a return on equity of 4.97%. The business had revenue of $465.33 million during the quarter, compared to the consensus estimate of $454.01 million. During the same quarter last year, the company earned $0.22 earnings per share. The business's quarterly revenue was up 23.4% compared to the same quarter last year. 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.

Casella Waste Systems Profile

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.

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