Wellington Management Group LLP Trims Holdings in Casella Waste Systems, Inc. $CWST

Key Points

• Wellington Management Group LLP reduced its stake in Casella Waste Systems, Inc. by 16.3%, selling 267,492 shares and now holding about 1.37 million shares worth approximately $153.5 million.
• Casella Waste Systems recently reported a 23.4% increase in revenue year-over-year, reaching $465.3 million, and beat earnings expectations with $0.36 EPS compared to the consensus estimate of $0.31.
• Wall Street analysts have generally rated Casella Waste Systems as a "Moderate Buy" with an average price target of $123.17, following a mix of ratings from various firms.

Wellington Management Group LLP lowered its stake in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 16.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,376,984 shares of the industrial products company's stock after selling 267,492 shares during the period. Wellington Management Group LLP owned about 2.17% of Casella Waste Systems worth $153,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. lifted its position in shares of Casella Waste Systems by 18.3% during the 1st 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. grew its holdings in shares of Casella Waste Systems by 16.0% during the fourth quarter. Ameriprise Financial Inc. now owns 1,402,322 shares of the industrial products company's stock worth $148,380,000 after buying an additional 193,571 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Casella Waste Systems by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 904,598 shares of the industrial products company's stock valued at $95,715,000 after purchasing an additional 30,153 shares during the period. American Century Companies Inc. increased its stake in Casella Waste Systems by 10.0% in the 1st quarter. American Century Companies Inc. now owns 787,673 shares of the industrial products company's stock valued at $87,834,000 after buying an additional 71,406 shares during the period. Finally, Northern Trust Corp raised its holdings in Casella Waste Systems by 8.9% during the fourth quarter. Northern Trust Corp now owns 786,478 shares of the industrial products company's stock worth $83,217,000 after purchasing an additional 64,185 shares in the last quarter. Hedge funds and other institutional investors own 99.51% of the company's stock.

Analyst Upgrades and Downgrades

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

Casella Waste Systems Stock Up 0.7%

Shares of NASDAQ CWST traded up $0.69 on Tuesday, hitting $99.54. The company had a trading volume of 484,514 shares, compared to its average volume of 628,059. The firm has a market capitalization of $6.32 billion, a P/E ratio of 553.00 and a beta of 0.83. Casella Waste Systems, Inc. has a 12-month low of $97.05 and a 12-month high of $121.24. The business has a 50 day moving average of $107.82 and a two-hundred day moving average of $111.46. The company has a quick ratio of 1.61, a current ratio of 1.70 and a debt-to-equity ratio of 0.72.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last posted its quarterly earnings data 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. Casella Waste Systems had a net margin of 0.64% and a return on equity of 4.97%. The company had revenue of $465.33 million for the quarter, compared to analyst estimates of $454.01 million. During the same quarter last year, the firm posted $0.22 earnings per share. The business's quarterly revenue was up 23.4% on a year-over-year basis. Casella Waste Systems has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal 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.