Rhumbline Advisers Increases Stock Position in Casella Waste Systems, Inc. $CWST

Key Points

• Rhumbline Advisers increased its stake in Casella Waste Systems by 5.6%, owning 91,720 shares valued at $10.2 million as of the latest SEC filing.
• In the first quarter, multiple institutional investors including Geneos Wealth Management and Harbor Investment Advisory made significant increases in their holdings of Casella Waste Systems.
• Casella Waste Systems reported a quarterly earnings per share (EPS) of $0.36, surpassing analyst expectations, with revenues reaching $465.33 million—a 23.4% increase year-over-year.

Rhumbline Advisers lifted its holdings in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 5.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 91,720 shares of the industrial products company's stock after purchasing an additional 4,862 shares during the period. Rhumbline Advisers owned about 0.14% of Casella Waste Systems worth $10,228,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Strs Ohio purchased a new stake in shares of Casella Waste Systems in the 1st quarter worth approximately $814,000. Geneos Wealth Management Inc. lifted its position in shares of Casella Waste Systems by 301.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company's stock worth $27,000 after purchasing an additional 184 shares during the period. Intech Investment Management LLC lifted its position 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 purchasing an additional 2,979 shares during the period. Jane Street Group LLC lifted its position in shares of Casella Waste Systems by 3,226.1% in the 1st quarter. Jane Street Group LLC now owns 69,849 shares of the industrial products company's stock worth $7,789,000 after purchasing an additional 67,749 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Casella Waste Systems by 112.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 318,035 shares of the industrial products company's stock worth $35,464,000 after purchasing an additional 168,003 shares during the period. Hedge funds and other institutional investors own 99.51% of the company's stock.

Analyst Upgrades and Downgrades

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

Casella Waste Systems Stock Performance

Shares of CWST stock traded down $1.49 during trading hours on Tuesday, hitting $88.77. The company's stock had a trading volume of 201,512 shares, compared to its average volume of 458,306. The company has a 50 day moving average of $102.09 and a 200 day moving average of $109.90. Casella Waste Systems, Inc. has a 12-month low of $88.44 and a 12-month high of $121.24. The stock has a market cap of $5.64 billion, a PE ratio of 492.74 and a beta of 0.84. The company has a current ratio of 1.70, a quick ratio of 1.61 and a debt-to-equity ratio of 0.72.

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, topping analysts' consensus estimates of $0.31 by $0.05. Casella Waste Systems had a net margin of 0.64% and a return on equity of 4.97%. The firm had revenue of $465.33 million for the quarter, compared to the consensus estimate of $454.01 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The firm'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. On average, sell-side analysts forecast that Casella Waste Systems, Inc. will post 1.16 EPS for the current fiscal year.

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.