Y Intercept Hong Kong Ltd has taken a significant step by acquiring a new stake in Casella Waste Systems, Inc. (NASDAQ: CWST). According to the company’s latest Form 13F filing with the Securities and Exchange Commission (SEC), Y Intercept purchased 58,168 shares, valued at approximately $5.5 million, during the third quarter. This acquisition reflects Y Intercept’s growing interest in the industrial products sector, with the firm now holding about 0.09% of Casella Waste Systems.
A number of other institutional investors have also made notable adjustments to their holdings in Casella Waste Systems. Ameritas Advisory Services LLC entered the market with a new stake worth $25,000 in the second quarter. 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 during the last quarter. Geneos Wealth Management Inc. similarly expanded its position by 301.6%, owning 245 shares worth $27,000 following the purchase of 184 additional shares.
Other new investments include First Horizon Corp, which bought shares valued at approximately $31,000 in the third quarter, and AlphaQuest LLC, which acquired shares worth about $33,000 during the second quarter. Overall, institutional investors now hold about 99.51% of the company’s 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 range, with a low of $82.22 and a high of $121.24. With a market capitalization of $6.72 billion, Casella Waste Systems has a price-to-earnings ratio of 440.89 and a beta of 0.80. The company also reports a debt-to-equity ratio of 0.72, a quick ratio of 1.43, and a current ratio of 1.51.
Research analysts have shared positive insights regarding Casella Waste Systems. Notably, Zacks Research upgraded the company from a “hold” to a “strong-buy” rating on January 1, 2024. Jefferies Financial Group set a price target of $120.00, categorizing the stock as a “buy” on January 6, 2024. UBS Group increased their target price from $135.00 to $140.00, maintaining a “buy” rating. Conversely, Goldman Sachs Group revised their price objective down from $125.00 to $111.00, but still rates the stock as a “buy.”
Currently, two investment analysts have assigned a “strong buy” rating, while seven have issued a “buy” rating and three have given a “hold” rating. According to data from MarketBeat, Casella Waste Systems has a consensus rating of “Moderate Buy” with an average price target of $114.33.
About Casella Waste Systems
Founded in 1975, Casella Waste Systems, Inc. is headquartered in Rutland, Vermont. The company has evolved from a single-truck operation into a comprehensive provider of integrated waste management solutions across multiple states. Casella offers a wide array of services that include residential, commercial, and industrial waste collection, as well as transfer station operations, landfill disposal, recycling processing, and organics management. Their extensive network of solid waste transfer stations, recycling facilities, and landfills primarily serves communities in the northeastern United States and parts of the mid-Atlantic region.
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