Select Equity Group L.P. Raises Position in Casella Waste Systems, Inc. $CWST

Key Points

• Select Equity Group L.P. significantly increased its stake in Casella Waste Systems, Inc. by 617% during the first quarter, acquiring an additional 177,093 shares to hold a total of 205,795 shares worth approximately $22.9 million.
• Casella Waste Systems reported a 23.4% annual revenue increase, with quarterly revenue reaching $465.33 million, surpassing analyst estimates, and earnings per share (EPS) of $0.36, beating the forecast by $0.05.
• The stock is currently facing a slight decline of 0.9%, with a market capitalization of $6.01 billion and a consensus rating of "Moderate Buy" from analysts.

Select Equity Group L.P. raised its holdings in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 617.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 205,795 shares of the industrial products company's stock after buying an additional 177,093 shares during the period. Select Equity Group L.P. owned approximately 0.32% of Casella Waste Systems worth $22,948,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CWST. 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 stake in shares of Casella Waste Systems in the 1st quarter valued at approximately $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 worth $105,000 after buying 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 worth $109,000 after buying 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 worth $145,000 after buying an additional 757 shares during the last quarter. Hedge funds and other institutional investors own 99.51% of the company's stock.

Wall Street Analyst Weigh In

CWST has been the topic of several research analyst reports. Cowen reiterated a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 6th. 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 note on Monday, August 4th. Finally, William Blair reiterated an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. One investment 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's stock. Based on data from MarketBeat, Casella Waste Systems has an average rating of "Moderate Buy" and an average target price of $123.17.

Casella Waste Systems Stock Performance

Shares of CWST traded down $1.71 during mid-day trading on Friday, reaching $91.03. 90,004 shares of the company's stock were exchanged, compared to its average volume of 458,340. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.70 and a quick ratio of 1.61. The stock has a market capitalization of $5.78 billion, a PE ratio of 506.33 and a beta of 0.84. The business's fifty day simple moving average is $103.02 and its 200-day simple moving average is $110.17. Casella Waste Systems, Inc. has a 52-week low of $90.73 and a 52-week high of $121.24.

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, 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 analysts' expectations of $454.01 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The company'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, equities research analysts expect that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current year.

About Casella Waste Systems

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.