Y Intercept Hong Kong Ltd has significantly increased its investment in Casella Waste Systems, Inc. (NASDAQ: CWST) by purchasing 58,168 shares valued at approximately $5,519,000. This acquisition was disclosed in the firm’s latest Form 13F filing with the U.S. Securities and Exchange Commission (SEC). Following this purchase, Y Intercept Hong Kong Ltd now holds about 0.09% of Casella’s total shares.
The move aligns with a trend among institutional investors, as multiple hedge funds have adjusted their stakes in Casella Waste Systems in recent months. For instance, Ameritas Advisory Services LLC obtained a new position in the company valued at $25,000 during the second quarter. Similarly, Caitong International Asset Management Co. Ltd increased its holdings by 325.5%, now owning 217 shares after purchasing an additional 166 shares last quarter.
Further investment activity includes Geneos Wealth Management Inc., which raised its stake by 301.6% in the first quarter, now holding 245 shares worth $27,000. Additionally, First Horizon Corp and AlphaQuest LLC made new investments valued at approximately $31,000 and $33,000, respectively. Altogether, institutional investors own 99.51% of Casella Waste Systems’ stock.
Stock Performance and Analyst Ratings
As of the latest trading session, shares of Casella Waste Systems opened at $105.81. The company has experienced a 52-week low of $82.22 and a high of $121.24. With a market capitalization of $6.72 billion, Casella’s price-to-earnings ratio stands at 440.89, and its beta is 0.80. The stock also has a 50-day simple moving average of $99.05 and a 200-day average of $96.90. Financial metrics indicate a debt-to-equity ratio of 0.72, alongside a quick ratio of 1.43 and a current ratio of 1.51.
Recent assessments from financial analysts highlight a positive outlook for Casella Waste Systems. On January 1, Zacks Research upgraded the company from a “hold” to a “strong-buy” rating. Following this, Jefferies Financial Group set a price target of $120.00 while assigning a “buy” rating on January 6. UBS Group also raised its target price from $135.00 to $140.00, maintaining a “buy” rating.
Conversely, The Goldman Sachs Group revised down its price objective from $125.00 to $111.00, although they also hold a “buy” rating. Stifel Nicolaus initiated coverage with a “buy” rating and a target price of $113.00. Overall, two analysts have rated the stock as a Strong Buy, seven have issued Buy ratings, and three have given it a Hold rating. According to data from MarketBeat, the consensus rating is “Moderate Buy” with an average price target of $114.33.
Company Overview
Founded in 1975 and headquartered in Rutland, Vermont, Casella Waste Systems, Inc. has expanded from a single-truck operation to a multi-state provider of integrated waste management solutions. The company offers a wide array of services, including residential, commercial, and industrial waste collection, transfer station operations, landfill disposal, recycling processing, and organics management. Through its network of solid waste transfer stations, recycling facilities, and landfills, Casella primarily serves communities across the northeastern United States and parts of the mid-Atlantic region.
The recent developments in Casella Waste Systems highlight the growing interest from institutional investors and the confidence analysts have in the company’s future performance. As the market evolves, stakeholders will be keen to observe how these changes impact the company’s growth trajectory.
