Y Intercept Hong Kong Ltd has purchased a significant stake in Casella Waste Systems, Inc. (NASDAQ:CWST), acquiring 58,168 shares valued at approximately $5,519,000. This acquisition occurred during the third quarter, as detailed in the company’s recent Form 13F filing with the Securities and Exchange Commission (SEC). Following this transaction, Y Intercept Hong Kong Ltd holds around 0.09% of Casella Waste Systems.
This latest investment aligns with a trend among institutional investors making strategic adjustments to their positions in Casella Waste Systems. For instance, Ameritas Advisory Services LLC entered the fray in the second quarter with a new stake worth $25,000. Similarly, Caitong International Asset Management Co. Ltd increased its investment by an impressive 325.5%, now owning 217 shares valued at $25,000 after acquiring an additional 166 shares.
Moreover, Geneos Wealth Management Inc. expanded its stake by 301.6% during the first quarter, holding 245 shares now worth $27,000. First Horizon Corp and AlphaQuest LLC also made new investments in the third and second quarters, respectively, with valuations of approximately $31,000 and $33,000. Collectively, institutional investors own 99.51% of Casella Waste Systems stock.
Casella Waste Systems Stock Performance and Analyst Ratings
On Friday, shares of Casella Waste Systems opened at $105.81. The company has seen a 52-week low of $82.22 and a high of $121.24. With a market capitalization of $6.72 billion, the company exhibits a price-to-earnings ratio of 440.89 and a beta of 0.80. Its financial health is reflected in a debt-to-equity ratio of 0.72, a quick ratio of 1.43, and a current ratio of 1.51.
Recent commentary from Wall Street analysts suggests a positive outlook for the company. Zacks Research upgraded Casella Waste Systems to a “strong-buy” rating on January 1, 2024. Jefferies Financial Group set a price target of $120.00 with a “buy” rating on January 6, 2024. UBS Group has raised its target price from $135.00 to $140.00, maintaining a “buy” rating following their analysis on November 3, 2023. In contrast, The Goldman Sachs Group reduced its price objective from $125.00 to $111.00 while still rating the stock as a “buy.”
Overall, two investment analysts have issued a “Strong Buy” rating, seven have provided a “Buy” rating, and three have assigned a “Hold” rating. According to MarketBeat, the average price target for the stock stands at $114.33.
About Casella Waste Systems
Casella Waste Systems, Inc., headquartered in Rutland, Vermont, is a regional resource management company established in 1975. The company has transformed from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial, and industrial waste collection, transfer station operations, landfill disposal, recycling processing, and organics management.
Through its extensive 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 company’s growth and strategic investments reflect its commitment to enhancing its market position in the evolving waste management industry.
