Elevation Point Wealth Partners LLC Purchases New Shares in Casella Waste Systems, Inc. $CWST

Elevation Point Wealth Partners LLC acquired a new position in Casella Waste Systems, Inc. (NASDAQ:CWST) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,254 shares of the industrial products company’s stock, valued at approximately $375,000.

A number of other hedge funds have also recently modified their holdings of CWST. Invesco Ltd. increased its stake in shares of Casella Waste Systems by 18.3% in the 1st quarter. Invesco Ltd. now owns 2,165,010 shares of the industrial products company’s stock worth $241,420,000 after acquiring an additional 334,790 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Casella Waste Systems by 2.9% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,552,307 shares of the industrial products company’s stock valued at $179,105,000 after purchasing an additional 44,464 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Casella Waste Systems by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,500,083 shares of the industrial products company’s stock worth $173,101,000 after purchasing an additional 12,016 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Casella Waste Systems by 5.5% in 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. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of 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 valued at $158,322,000 after purchasing an additional 163,363 shares in the last quarter. Institutional investors own 99.51% of the company’s stock.

Casella Waste Systems Trading Down 0.3%

Casella Waste Systems stock opened at $96.43 on Friday. Casella Waste Systems, Inc. has a 12-month low of $82.22 and a 12-month high of $121.24. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 535.72 and a beta of 0.83. The firm has a 50 day moving average of $90.04 and a 200 day moving average of $101.22. The company has a current ratio of 1.70, a quick ratio of 1.61 and a debt-to-equity ratio of 0.72.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. The business had revenue of $485.35 million during the quarter, compared to analyst estimates of $477.24 million. Casella Waste Systems had a net margin of 0.64% and a return on equity of 4.97%. The company’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. Casella Waste Systems has set its FY 2025 guidance at EPS. As a group, research analysts predict that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CWST shares. The Goldman Sachs Group cut their target price on shares of Casella Waste Systems from $125.00 to $111.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $120.00 price objective on shares of Casella Waste Systems in a report on Monday, November 3rd. Barclays set a $95.00 target price on Casella Waste Systems and gave the company an “equal weight” rating in a report on Monday, November 3rd. Stifel Nicolaus initiated coverage on Casella Waste Systems in a research report on Monday, September 29th. They issued a “buy” rating and a $113.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Casella Waste Systems in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $113.75.

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.