Voya Investment Management LLC Grows Position in Casella Waste Systems, Inc. $CWST

Key Points

• Voya Investment Management LLC increased its stake in Casella Waste Systems by 60.9% in the first quarter, acquiring an additional 170,368 shares, and now holds 450,111 shares valued at approximately $50.2 million.
• Multiple hedge funds, including Bank of New York Mellon Corp, Select Equity Group, and T. Rowe Price, significantly expanded their positions in Casella Waste Systems, resulting in institutional investors owning 99.51% of the stock.
• Casella Waste Systems exceeded earnings expectations with EPS of $0.36 for the last quarter, beating the consensus estimate of $0.31, and its revenue increased by 23.4% year-over-year.

Voya Investment Management LLC grew its position in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 60.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 450,111 shares of the industrial products company's stock after buying an additional 170,368 shares during the quarter. Voya Investment Management LLC owned 0.71% of Casella Waste Systems worth $50,192,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Casella Waste Systems by 5.6% during the first quarter. Rhumbline Advisers now owns 91,720 shares of the industrial products company's stock valued at $10,228,000 after acquiring an additional 4,862 shares during the last quarter. Strs Ohio purchased a new stake in Casella Waste Systems during the 1st quarter worth about $814,000. Geneos Wealth Management Inc. increased its position in Casella Waste Systems by 301.6% during 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 in the last quarter. Intech Investment Management LLC increased its position in Casella Waste Systems by 12.9% during 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 in the last quarter. Finally, Jane Street Group LLC increased its position in Casella Waste Systems by 3,226.1% during 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 in the last quarter. Hedge funds and other institutional investors own 99.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CWST. Cowen reiterated a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 6th. Raymond James Financial set a $125.00 price objective on Casella Waste Systems and gave the stock a "strong-buy" rating in a research report on Monday, August 4th. Finally, William Blair reiterated an "outperform" rating on shares of Casella Waste Systems in a research report 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 issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $123.17.

Casella Waste Systems Trading Down 1.0%

NASDAQ:CWST traded down $0.87 during mid-day trading on Monday, reaching $90.26. The company's stock had a trading volume of 499,277 shares, compared to its average volume of 461,894. The company's fifty day simple moving average is $102.09 and its two-hundred day simple moving average is $109.90. 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 twelve month low of $89.75 and a twelve month high of $121.24. The stock has a market cap of $5.73 billion, a P/E ratio of 501.44 and a beta of 0.84.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last issued 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 return on equity of 4.97% and a net margin of 0.64%.The firm had revenue of $465.33 million for the quarter, compared to analyst estimates of $454.01 million. During the same period last year, the company earned $0.22 EPS. The firm's quarterly revenue was up 23.4% on a year-over-year basis. 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 EPS 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.