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 lifted its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 60.9% in the first quarter, according to the company in its most recent disclosure with the SEC. 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 approximately 0.71% of Casella Waste Systems worth $50,192,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in Casella Waste Systems by 18.3% during the first quarter. Invesco Ltd. now owns 2,165,010 shares of the industrial products company's stock worth $241,420,000 after purchasing an additional 334,790 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Casella Waste Systems by 5.5% during the first quarter. Ameriprise Financial Inc. now owns 1,479,896 shares of the industrial products company's stock worth $165,023,000 after purchasing an additional 77,574 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Casella Waste Systems by 13.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,419,799 shares of the industrial products company's stock worth $158,322,000 after purchasing an additional 163,363 shares during the last quarter. American Century Companies Inc. lifted its stake in Casella Waste Systems by 10.0% during the first quarter. American Century Companies Inc. now owns 787,673 shares of the industrial products company's stock worth $87,834,000 after purchasing an additional 71,406 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Casella Waste Systems by 157.6% during the first quarter. Bank of New York Mellon Corp now owns 740,000 shares of the industrial products company's stock worth $82,517,000 after purchasing an additional 452,776 shares during the last quarter. Hedge funds and other institutional investors own 99.51% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CWST. Raymond James Financial set a $125.00 target price on Casella Waste Systems and gave the stock a "strong-buy" rating in a research note on Monday, August 4th. Cowen reiterated a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 6th. 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 issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $123.17.

Casella Waste Systems Stock Performance

Shares of NASDAQ:CWST traded up $0.61 during trading on Thursday, reaching $88.10. The company had a trading volume of 134,718 shares, compared to its average volume of 458,310. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 489.36 and a beta of 0.84. 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's fifty day moving average price is $101.12 and its 200 day moving average price is $109.60. Casella Waste Systems, Inc. has a fifty-two week low of $86.76 and a fifty-two week high of $121.24.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last released its earnings results on Thursday, July 31st. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. The business had revenue of $465.33 million for the quarter, compared to analyst estimates of $454.01 million. Casella Waste Systems had a return on equity of 4.97% and a net margin of 0.64%.The company's revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. Casella Waste Systems has set its FY 2025 guidance at EPS. As a group, equities research 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.