Casella Waste Systems, Inc. $CWST Shares Sold by Earnest Partners LLC

Key Points

• Earnest Partners LLC reduced its stake in Casella Waste Systems by 1.8%, now holding 1,586,758 shares, which constitutes 0.8% of their investment portfolio.
• Casella Waste Systems reported $0.36 EPS for the last quarter, exceeding analysts' expectations of $0.31, with revenues of $465.33 million, a 23.4% increase from the previous year.
• Wall Street analysts maintain a Moderate Buy consensus rating for Casella Waste Systems, with a target price of $123.17, indicating potential growth.

Earnest Partners LLC lowered its position in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,586,758 shares of the industrial products company's stock after selling 28,976 shares during the quarter. Casella Waste Systems accounts for 0.8% of Earnest Partners LLC's investment portfolio, making the stock its 28th biggest position. Earnest Partners LLC owned 2.50% of Casella Waste Systems worth $176,939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CWST. Mariner LLC boosted its holdings in Casella Waste Systems by 10.1% in the fourth quarter. Mariner LLC now owns 3,671 shares of the industrial products company's stock valued at $388,000 after acquiring an additional 338 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Casella Waste Systems by 279.3% during the fourth quarter. NewEdge Advisors LLC now owns 3,061 shares of the industrial products company's stock worth $324,000 after purchasing an additional 2,254 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Casella Waste Systems by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 904,598 shares of the industrial products company's stock worth $95,715,000 after purchasing an additional 30,153 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of Casella Waste Systems by 11.0% during the fourth quarter. Stifel Financial Corp now owns 35,025 shares of the industrial products company's stock worth $3,706,000 after purchasing an additional 3,462 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in shares of Casella Waste Systems during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 99.51% of the company's stock.

Casella Waste Systems Stock Up 0.7%

Shares of NASDAQ CWST opened at $99.54 on Wednesday. Casella Waste Systems, Inc. has a 1 year low of $97.05 and a 1 year high of $121.24. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 553.00 and a beta of 0.83. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.61 and a current ratio of 1.70. The stock's 50-day simple moving average is $107.82 and its 200-day simple moving average is $111.46.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced its earnings results on Thursday, July 31st. The industrial products company reported $0.36 earnings per share (EPS) 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 analyst estimates of $454.01 million. Casella Waste Systems had a return on equity of 4.97% and a net margin of 0.64%.The company's revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 earnings per share. Casella Waste Systems has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CWST. William Blair restated an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. Cowen restated a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 6th. Finally, Raymond James Financial set a $125.00 price objective on Casella Waste Systems and gave the stock a "strong-buy" rating in a research note on Monday, August 4th. One investment 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.com, Casella Waste Systems has an average rating of "Moderate Buy" and a consensus target price of $123.17.

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.

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