Y Intercept Hong Kong Ltd has acquired a significant stake in Casella Waste Systems, Inc. (NASDAQ: CWST), purchasing 58,168 shares valued at approximately $5,519,000. This investment was disclosed in the firm’s latest Form 13F filing with the U.S. Securities and Exchange Commission (SEC). With this acquisition, Y Intercept now holds about 0.09% of the company’s total shares.
Other institutional investors have also recently adjusted their positions in Casella Waste Systems. Notably, Ameritas Advisory Services LLC entered the market with a new stake valued at $25,000 during the second quarter. In the same period, Caitong International Asset Management Co. Ltd increased its holdings by an impressive 325.5%, now owning 217 shares after purchasing an additional 166 shares. Furthermore, Geneos Wealth Management Inc. raised its stake by 301.6%, acquiring an extra 184 shares to reach a total of 245 shares valued at $27,000.
Additionally, First Horizon Corp bought a new position worth approximately $31,000 in the third quarter, while AlphaQuest LLC invested around $33,000 during the second quarter. Institutional investors collectively own 99.51% of the company’s stock.
Stock Performance and Market Outlook
On Friday, shares of Casella Waste Systems opened at $105.81. Over the past year, the stock has fluctuated between a low of $82.22 and a high of $121.24. The company boasts a market capitalization of $6.72 billion, and its current price-to-earnings ratio stands at 440.89, with a beta of 0.80. Its moving averages indicate stability, with a 50-day simple moving average of $99.05 and a 200-day average of $96.90. Financial ratios reveal a debt-to-equity ratio of 0.72, a quick ratio of 1.43, and a current ratio of 1.51.
Recent analyst evaluations suggest a positive outlook for Casella Waste Systems. Zacks Research upgraded the company from a “hold” to a “strong-buy” rating on January 1, 2024. Likewise, Jefferies Financial Group set a target price of $120.00, assigning a “buy” rating in a report issued on January 6, 2024. In a further optimistic note, UBS Group raised its target price from $135.00 to $140.00, maintaining a “buy” rating.
Despite some analysts adjusting their forecasts, such as The Goldman Sachs Group lowering its target from $125.00 to $111.00, the overall sentiment remains favorable. Stifel Nicolaus has also initiated coverage with a “buy” rating and a price target of $113.00. The consensus rating for Casella Waste Systems is a “Moderate Buy,” with an average price target of $114.33.
Company Overview
Founded in 1975, Casella Waste Systems, Inc. is headquartered in Rutland, Vermont. The company has evolved from a single-truck operation into a multi-state provider of integrated waste management solutions. It offers a diverse range of services that include residential, commercial, and industrial waste collection, transfer station operations, landfill disposal, recycling processing, and organics management.
Casella Waste Systems operates through a network of solid waste transfer stations, recycling facilities, and landfills, primarily serving communities in the northeastern United States and parts of the mid-Atlantic region. This growth reflects the company’s commitment to sustainability and resource management, positioning it as a key player in the waste management industry.
For further updates on Casella Waste Systems and insights into institutional holdings, interested parties can visit HoldingsChannel.com for the latest 13F filings and insider trades.
