Casella Waste Systems, Inc. $CWST Position Lessened by Fred Alger Management LLC

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 lessened its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 2.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 793,585 shares of the industrial products company's stock after selling 19,818 shares during the period. Fred Alger Management LLC owned about 1.25% of Casella Waste Systems worth $88,493,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CWST. NBC Securities Inc. acquired a new stake in shares of Casella Waste Systems during the 1st quarter valued at $31,000. Opal Wealth Advisors LLC acquired a new stake in shares of Casella Waste Systems during the 1st quarter valued at $34,000. Signaturefd LLC lifted its position in shares of 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 acquiring an additional 139 shares during the last quarter. Harbor Investment Advisory LLC lifted its position in shares of Casella Waste Systems by 22.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 975 shares of the industrial products company's stock valued at $109,000 after acquiring an additional 177 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of 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 valued at $145,000 after acquiring an additional 757 shares during the last quarter. Institutional investors and hedge funds own 99.51% of the company's stock.

Casella Waste Systems Stock Down 1.7%

Shares of CWST traded down $1.60 during mid-day trading on Friday, reaching $91.13. The company's stock had a trading volume of 299,287 shares, compared to its average volume of 473,474. The business has a fifty day moving average of $102.55 and a 200 day moving average of $110.04. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 506.28 and a beta of 0.84. Casella Waste Systems, Inc. has a 1 year low of $90.68 and a 1 year high of $121.24. The company has a quick ratio of 1.61, a current ratio of 1.70 and a debt-to-equity ratio of 0.72.

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 (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $465.33 million during the quarter, compared to analyst estimates of $454.01 million. During the same period last year, the company earned $0.22 earnings per share. Casella Waste Systems's quarterly revenue was up 23.4% compared to the same quarter last year. Casella Waste Systems has set its FY 2025 guidance at EPS. As a group, analysts forecast that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.