Conestoga Capital Advisors LLC Cuts Stock Holdings in Casella Waste Systems, Inc. $CWST

Key Points

• Conestoga Capital Advisors LLC reduced its stake in Casella Waste Systems by 6.9% in Q2, now holding approximately 2.68 million shares, representing 4.6% of its overall portfolio.
• Casella Waste Systems reported a 23.4% increase in revenue year-over-year, totaling $465.33 million, and exceeded earnings expectations with an EPS of $0.36.
• Brokerages have mixed ratings on Casella Waste Systems, with a consensus rating of "Moderate Buy" and a target price of $112.38, though some analysts have upgraded their outlook.

Conestoga Capital Advisors LLC trimmed its position in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 6.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,680,114 shares of the industrial products company's stock after selling 199,318 shares during the quarter. Casella Waste Systems accounts for 4.6% of Conestoga Capital Advisors LLC's holdings, making the stock its largest holding. Conestoga Capital Advisors LLC owned about 4.22% of Casella Waste Systems worth $309,232,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas purchased a new stake in shares of Casella Waste Systems in the 1st quarter worth $1,480,000. GAMMA Investing LLC lifted its holdings in shares of Casella Waste Systems by 138.6% in the 1st quarter. GAMMA Investing LLC now owns 1,303 shares of the industrial products company's stock worth $145,000 after buying an additional 757 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Casella Waste Systems by 12.9% in the 1st quarter. Intech Investment Management LLC now owns 25,994 shares of the industrial products company's stock worth $2,899,000 after buying an additional 2,979 shares during the period. Mutual of America Capital Management LLC lifted its holdings 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 buying an additional 174 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Casella Waste Systems in the 2nd quarter worth $246,000. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Casella Waste Systems Trading Down 0.2%

Casella Waste Systems stock opened at $85.76 on Monday. The stock has a 50-day moving average of $93.58 and a two-hundred day moving average of $106.38. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.61 and a current ratio of 1.70. Casella Waste Systems, Inc. has a one year low of $84.60 and a one year high of $121.24. The stock has a market cap of $5.44 billion, a PE ratio of 476.44 and a beta of 0.84.

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 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. Casella Waste Systems had a return on equity of 4.97% and a net margin of 0.64%.The company had revenue of $465.33 million during the quarter, compared to analysts' expectations of $454.01 million. During the same period last year, the business posted $0.22 earnings per share. The firm's revenue was up 23.4% compared to the same quarter last year. Casella Waste Systems has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Casella Waste Systems, Inc. will post 1.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CWST. Raymond James Financial restated a "strong-buy" rating on shares of Casella Waste Systems in a research note on Monday, October 6th. Loop Capital upgraded Casella Waste Systems from a "hold" rating to a "buy" rating and set a $88.00 price objective for the company in a research note on Friday, September 19th. Weiss Ratings restated a "sell (d+)" rating on shares of Casella Waste Systems in a research note on Wednesday, October 8th. UBS Group decreased their price objective on Casella Waste Systems from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Stifel Nicolaus began coverage on Casella Waste Systems in a research note on Monday, September 29th. They set a "buy" rating and a $113.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.38.

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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