T. Rowe Price Investment Management Inc. Purchases 163,363 Shares of Casella Waste Systems, Inc. $CWST

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

A number of other hedge funds have also recently modified their holdings of CWST. Quarry LP purchased a new stake in shares of Casella Waste Systems during the fourth quarter worth about $30,000. NBC Securities Inc. bought a new position in Casella Waste Systems during the 1st quarter valued at approximately $31,000. Opal Wealth Advisors LLC bought a new position in Casella Waste Systems during the 1st quarter valued at approximately $34,000. Johnson Financial Group Inc. purchased a new stake in Casella Waste Systems in the 4th quarter worth approximately $44,000. Finally, Signaturefd LLC grew its position in shares of Casella Waste Systems by 17.3% in the 1st quarter. Signaturefd LLC now owns 941 shares of the industrial products company's stock worth $105,000 after buying an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 99.51% of the company's stock.

Analysts Set New Price Targets

CWST has been the topic of several recent analyst reports. 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 report on Monday, August 4th. William Blair reaffirmed an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. Finally, Cowen reiterated a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Casella Waste Systems currently has a consensus rating of "Moderate Buy" and an average target price of $123.17.

Casella Waste Systems Stock Up 0.7%

Shares of NASDAQ CWST traded up $0.66 during trading on Tuesday, reaching $99.51. The company had a trading volume of 143,771 shares, compared to its average volume of 457,683. 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 stock has a market cap of $6.32 billion, a PE ratio of 552.58 and a beta of 0.83. Casella Waste Systems, Inc. has a 12-month low of $97.05 and a 12-month high of $121.24. The business's 50-day moving average is $108.16 and its 200 day moving average is $111.54.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $465.33 million during the quarter, compared to analyst estimates of $454.01 million. Casella Waste Systems had a net margin of 0.64% and a return on equity of 4.97%. The firm's revenue for the quarter was up 23.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 EPS. Casella Waste Systems has set its FY 2025 guidance at EPS. As a group, equities 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.