Granahan Investment Management LLC Sells 29,343 Shares of Casella Waste Systems, Inc. $CWST

Key Points

• Granahan Investment Management LLC reduced its stake in Casella Waste Systems by 7.9%, now holding 342,978 shares valued at approximately $38.25 million, making it the firm's 13th largest position.
• Casella Waste Systems recently reported Q2 earnings of $0.36 per share, surpassing analyst estimates, alongside a significant 23.4% revenue increase compared to the previous year.
• Analysts maintain a positive outlook on the stock, with a consensus price target of $123.17 and multiple firms issuing ratings from "buy" to "strong buy."

Granahan Investment Management LLC lessened its stake in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 7.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 342,978 shares of the industrial products company's stock after selling 29,343 shares during the period. Casella Waste Systems comprises about 1.9% of Granahan Investment Management LLC's holdings, making the stock its 13th largest holding. Granahan Investment Management LLC owned approximately 0.54% of Casella Waste Systems worth $38,245,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NBC Securities Inc. purchased a new stake in Casella Waste Systems in the 1st quarter worth approximately $31,000. Opal Wealth Advisors LLC purchased a new stake in Casella Waste Systems in the 1st quarter worth approximately $34,000. Signaturefd LLC lifted its holdings in 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 period. Harbor Investment Advisory LLC lifted its holdings in Casella Waste Systems by 22.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 975 shares of the industrial products company's stock worth $109,000 after buying an additional 177 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in 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. Institutional investors own 99.51% of the company's stock.

Casella Waste Systems Stock Down 1.5%

Shares of Casella Waste Systems stock traded down $1.37 during midday trading on Wednesday, hitting $91.40. The company had a trading volume of 116,449 shares, compared to its average volume of 457,686. 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 has a market capitalization of $5.80 billion, a P/E ratio of 507.78 and a beta of 0.84. The company has a 50 day moving average of $103.85 and a 200 day moving average of $110.43. Casella Waste Systems, Inc. has a 52-week low of $91.37 and a 52-week high of $121.24.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last issued its earnings results on Thursday, July 31st. The industrial products company reported $0.36 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $454.01 million. During the same period last year, the business posted $0.22 EPS. The company'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, equities analysts predict that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CWST shares. William Blair reiterated an "outperform" rating on shares of Casella Waste Systems in a report on Tuesday, July 15th. Raymond James Financial set a $125.00 price objective on Casella Waste Systems and gave the stock a "strong-buy" rating in a report on Monday, August 4th. Finally, Cowen reiterated a "buy" rating on shares of Casella Waste Systems in a report on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Casella Waste Systems currently has a consensus rating of "Moderate Buy" and a consensus target price 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.