Casella Waste Systems, Inc. $CWST Shares Purchased by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Casella Waste Systems by 13% during the first quarter, acquiring an additional 163,363 shares, bringing its total to approximately 1.42 million shares valued at $158.3 million.
• Analysts currently hold a consensus rating of "Moderate Buy" for Casella Waste Systems, with an average target price of $123.17, following multiple upgrades from firms such as Raymond James Financial.
• Casella Waste Systems reported a 23.4% year-over-year revenue increase for its latest quarter, achieving $465.33 million in revenue and earnings per share of $0.36, surpassing estimates.

T. Rowe Price Investment Management Inc. boosted its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 13.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,419,799 shares of the industrial products company's stock after purchasing an additional 163,363 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 2.24% of Casella Waste Systems worth $158,322,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Teacher Retirement System of Texas bought a new stake in shares of Casella Waste Systems in the first quarter worth $1,480,000. GAMMA Investing LLC grew its holdings in Casella Waste Systems by 138.6% during the 1st quarter. GAMMA Investing LLC now owns 1,303 shares of the industrial products company's stock worth $145,000 after acquiring an additional 757 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Casella Waste Systems by 0.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 42,187 shares of the industrial products company's stock worth $4,704,000 after purchasing an additional 174 shares during the last quarter. TD Asset Management Inc increased its position in shares of Casella Waste Systems by 30.1% in the 1st quarter. TD Asset Management Inc now owns 26,312 shares of the industrial products company's stock worth $2,934,000 after purchasing an additional 6,086 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Casella Waste Systems by 5.6% in the 1st quarter. Rhumbline Advisers now owns 91,720 shares of the industrial products company's stock valued at $10,228,000 after purchasing an additional 4,862 shares in the last quarter. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Cowen reiterated a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 6th. Raymond James Financial set a $125.00 target price on Casella Waste Systems and gave the stock a "strong-buy" rating in a research report on Monday, August 4th. Finally, William Blair reissued an "outperform" rating on shares of Casella Waste Systems in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $123.17.

Casella Waste Systems Stock Performance

Shares of NASDAQ CWST opened at $101.10 on Thursday. 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 firm's 50-day moving average price is $109.14 and its two-hundred day moving average price is $111.66. Casella Waste Systems, Inc. has a 52-week low of $97.05 and a 52-week high of $121.24. The stock has a market capitalization of $6.42 billion, a P/E ratio of 561.67, a P/E/G ratio of 4.08 and a beta of 0.83.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced 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. The business had revenue of $465.33 million for the quarter, compared to analysts' expectations of $454.01 million. Casella Waste Systems had a return on equity of 4.97% and a net margin of 0.64%.The business's quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. Casella Waste Systems has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current year.

Casella Waste Systems Company 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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