WCM Investment Management LLC Cuts Position in Casella Waste Systems, Inc. $CWST

Key Points

• WCM Investment Management LLC decreased its stake in Casella Waste Systems by 11.7% during the second quarter, owning 167,213 shares worth approximately $19.3 million after selling 22,129 shares.
• Analysts have mixed ratings on Casella Waste Systems, with a current consensus of Moderate Buy and an average price target of $112.38.
• The company reported a revenue increase of 23.4% year-over-year in its last quarterly earnings, with an earnings per share (EPS) of $0.36, exceeding expectations by $0.05.

WCM Investment Management LLC trimmed its position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 11.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 167,213 shares of the industrial products company's stock after selling 22,129 shares during the period. WCM Investment Management LLC owned about 0.26% of Casella Waste Systems worth $19,281,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Sheets Smith Wealth Management boosted its holdings in shares of Casella Waste Systems by 3.9% in the first quarter. Sheets Smith Wealth Management now owns 2,767 shares of the industrial products company's stock valued at $309,000 after acquiring an additional 103 shares during the period. Moors & Cabot Inc. boosted its holdings in shares of Casella Waste Systems by 4.4% in the first quarter. Moors & Cabot Inc. now owns 2,469 shares of the industrial products company's stock valued at $275,000 after acquiring an additional 105 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Casella Waste Systems by 1.0% in the first quarter. Benjamin Edwards Inc. now owns 10,998 shares of the industrial products company's stock valued at $1,226,000 after acquiring an additional 110 shares during the period. Signaturefd LLC boosted its holdings in shares of Casella Waste Systems by 17.3% in the first quarter. Signaturefd LLC now owns 941 shares of the industrial products company's stock valued at $105,000 after acquiring an additional 139 shares during the period. Finally, Moran Wealth Management LLC boosted its holdings in shares of Casella Waste Systems by 2.5% in the second quarter. Moran Wealth Management LLC now owns 5,894 shares of the industrial products company's stock valued at $680,000 after acquiring an additional 145 shares during the period. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CWST. William Blair reissued an "outperform" rating on shares of Casella Waste Systems in a report on Tuesday, July 15th. Loop Capital raised Casella Waste Systems from a "hold" rating to a "buy" rating and set a $88.00 price objective for the company in a report on Friday, September 19th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Casella Waste Systems in a report on Monday, October 6th. Barclays began coverage on Casella Waste Systems in a report on Friday, September 19th. They set an "underweight" rating and a $88.00 price target for the company. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Casella Waste Systems in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $112.38.

Casella Waste Systems Price Performance

Shares of NASDAQ CWST opened at $87.01 on Thursday. 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 fifty day moving average price of $94.11 and a 200 day moving average price of $106.86. Casella Waste Systems, Inc. has a 1-year low of $85.21 and a 1-year high of $121.24. The company has a market cap of $5.52 billion, a PE ratio of 483.39 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 for the quarter, topping the consensus estimate of $0.31 by $0.05. The firm had revenue of $465.33 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $0.22 earnings per share. Casella Waste Systems has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Casella Waste Systems, Inc. will post 1.16 EPS for the current year.

Casella Waste Systems 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.

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