Y Intercept Hong Kong Ltd has acquired a significant stake in Casella Waste Systems, Inc., purchasing 58,168 shares valued at approximately $5.5 million. This investment was disclosed in the company’s latest Form 13F filing with the Securities and Exchange Commission (SEC), which highlights the firm’s growing interest in the waste management sector.
As of the most recent filing, Y Intercept Hong Kong Ltd holds about 0.09% of Casella Waste Systems. This acquisition is part of a broader trend, with several other hedge funds also adjusting their positions in the company. For instance, in the second quarter, Ameritas Advisory Services LLC initiated a new stake valued at $25,000. Meanwhile, Caitong International Asset Management Co. Ltd increased its stake by an impressive 325.5% during the same period, bringing its total to 217 shares, also worth $25,000 after acquiring an additional 166 shares.
Other notable investors include Geneos Wealth Management Inc., which boosted its stake by 301.6% and now owns 245 shares valued at $27,000. First Horizon Corp and AlphaQuest LLC also entered new positions valued at approximately $31,000 and $33,000, respectively. Institutional investors collectively hold 99.51% of Casella Waste Systems’ stock, reflecting strong confidence in the company’s future.
Stock Performance and Analyst Ratings
On Friday, shares of Casella Waste Systems (NASDAQ:CWST) opened at $105.81. The company’s stock has experienced fluctuations, with a 52-week low of $82.22 and a 52-week high of $121.24. Casella Waste Systems boasts a market capitalization of $6.72 billion, a price-to-earnings ratio of 440.89, and a beta of 0.80. Financial metrics indicate a debt-to-equity ratio of 0.72, a quick ratio of 1.43, and a current ratio of 1.51.
Recent insights from analysts have been optimistic. Zacks Research upgraded Casella Waste Systems from a “hold” to a “strong-buy” rating in a report released on January 1. Additionally, Jefferies Financial Group set a price target of $120.00 and confirmed a “buy” rating in a report dated January 6. In a separate note, UBS Group raised its target price from $135.00 to $140.00, also rating the company as a “buy.”
Conversely, The Goldman Sachs Group adjusted its price objective downwards from $125.00 to $111.00, maintaining a “buy” rating. Stifel Nicolaus commenced coverage with a “buy” rating and a price target of $113.00 in a report released on September 29. Current analysis indicates that the stock has received two “strong buy” ratings, seven “buy” ratings, and three “hold” ratings, contributing to a consensus rating of “moderate buy” and an average price target of $114.33, according to data from MarketBeat.
Company Overview
Casella Waste Systems, Inc., headquartered in Rutland, Vermont, is a regional resource management company that has evolved significantly since its founding in 1975. Originally a single-truck operation, the company now provides integrated waste management solutions across multiple states. Its services encompass a wide range of waste management, including residential, commercial, and industrial waste collection, transfer station operations, landfill disposal, recycling processing, and organics management.
Through a network of solid waste transfer stations, recycling facilities, and landfills, Casella Waste Systems serves communities primarily in the northeastern United States and parts of the mid-Atlantic region. The firm’s strategic investments and positive analyst ratings suggest a robust outlook for its continued growth in the waste management industry.
For those interested in the latest movements among hedge funds holding CWST, access to the latest 13F filings and insider trades can be found at HoldingsChannel.com. Additionally, individuals can receive daily updates and ratings for Casella Waste Systems and related companies through MarketBeat’s free daily email newsletter.
