Fred Alger Management LLC Has $88.49 Million Holdings in Casella Waste Systems, Inc. $CWST

Key Points

• Fred Alger Management LLC has reduced its stake in Casella Waste Systems, owning 793,585 shares worth approximately $88.49 million after a 2.4% decrease during the first quarter.
• The company's recent earnings report showed a $0.36 EPS, surpassing estimates, with a year-over-year revenue increase of 23.4%.
• Analysts maintain a mostly positive outlook on Casella Waste Systems, with a consensus price target of $123.17 and ratings ranging from "Strong Buy" to "Buy".

Fred Alger Management LLC trimmed its position in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 793,585 shares of the industrial products company's stock after selling 19,818 shares during the quarter. Fred Alger Management LLC owned approximately 1.25% of Casella Waste Systems worth $88,493,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. NBC Securities Inc. purchased a new stake in shares of Casella Waste Systems in the 1st quarter valued at approximately $31,000. Opal Wealth Advisors LLC purchased a new position in Casella Waste Systems during the 1st quarter worth approximately $34,000. Signaturefd LLC raised its stake in Casella Waste Systems by 17.3% during the 1st quarter. Signaturefd LLC now owns 941 shares of the industrial products company's stock valued at $105,000 after purchasing an additional 139 shares during the period. Harbor Investment Advisory LLC lifted its holdings in shares of Casella Waste Systems by 22.2% in the first quarter. Harbor Investment Advisory LLC now owns 975 shares of the industrial products company's stock valued at $109,000 after purchasing an additional 177 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Casella Waste Systems by 138.6% in the first quarter. GAMMA Investing LLC now owns 1,303 shares of the industrial products company's stock valued at $145,000 after purchasing an additional 757 shares in the last quarter. 99.51% of the stock is owned by hedge funds and other institutional investors.

Casella Waste Systems Stock Performance

Shares of NASDAQ CWST opened at $94.69 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.70 and a quick ratio of 1.61. Casella Waste Systems, Inc. has a one year low of $93.63 and a one year high of $121.24. The business's 50-day moving average price is $104.74 and its two-hundred day moving average price is $110.70. The company has a market capitalization of $6.01 billion, a P/E ratio of 526.06 and a beta of 0.84.

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 (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. The business had revenue of $465.33 million during 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 firm's revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 EPS. Casella Waste Systems has set its FY 2025 guidance at EPS. Analysts anticipate that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Raymond James Financial set a $125.00 price target on 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 reissued a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Casella Waste Systems currently has an average rating of "Moderate Buy" and a consensus price target of $123.17.

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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