Casella Waste Systems, Inc. $CWST Shares Sold by Zimmer Partners LP

Key Points

• Zimmer Partners LP significantly reduced its stake in Casella Waste Systems, cutting holdings by 78.2% to 107,500 shares, valued at approximately $11.99 million.
• Despite this reduction, a majority of institutional investors own 99.51% of the company's stock, signaling strong interest and confidence in the company.
• Casella Waste Systems reported a 23.4% year-over-year increase in quarterly revenue, with earnings per share of $0.36, surpassing analyst expectations of $0.31.

Zimmer Partners LP cut its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 78.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,500 shares of the industrial products company's stock after selling 385,730 shares during the period. Zimmer Partners LP owned about 0.17% of Casella Waste Systems worth $11,987,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CWST. Bank of New York Mellon Corp increased 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 period. Invesco Ltd. increased 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 period. SG Capital Management LLC purchased a new stake in Casella Waste Systems during the fourth quarter worth about $26,907,000. Select Equity Group L.P. increased its stake in Casella Waste Systems by 617.0% during the first quarter. Select Equity Group L.P. now owns 205,795 shares of the industrial products company's stock worth $22,948,000 after purchasing an additional 177,093 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased 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 period. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Casella Waste Systems Stock Down 1.7%

Shares of Casella Waste Systems stock traded down $1.60 on Friday, reaching $91.13. 299,287 shares of the company were exchanged, compared to its average volume of 461,894. Casella Waste Systems, Inc. has a 1-year low of $90.68 and a 1-year high of $121.24. The company has a market cap of $5.79 billion, a P/E ratio of 506.28 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 50 day moving average price is $102.55 and its 200-day moving average price is $110.05.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.36 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 business had revenue of $465.33 million during the quarter, compared to the consensus estimate of $454.01 million. During the same period in the previous year, the company posted $0.22 earnings per share. The business's revenue for the quarter 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 analysts forecast that Casella Waste Systems, Inc. will post 1.16 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on CWST. 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. William Blair reiterated an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. Finally, Cowen reissued a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $123.17.

Casella Waste Systems Company 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.