5 Best Waste Management Stocks to Buy Now

4. Casella Waste Systems, Inc. (NASDAQ:CWST)

Number of Hedge Fund Holders: 28

Casella Waste Systems, Inc. (NASDAQ:CWST) functions as a solid waste services provider in the northeastern region of the United States. The company is involved in resource management services, with a focus on solid waste collection, disposal, transfer, recycling, and organics services. It is one of the best waste management stocks to buy.

On September 15, Goldman Sachs assigned Casella Waste Systems, Inc. (NASDAQ:CWST) stock a Buy rating. According to Goldman Sachs, Casella Waste Systems, Inc. (NASDAQ:CWST) is expected to experience significant earnings growth, with earnings per share increasing from $1.10 this year to $1.46 in 2024. Additionally, they anticipate a 16% growth in revenue, moving from $1.27 billion to $1.48 billion over this period.

According to Insider Monkey’s second quarter database, 28 hedge funds were bullish on Casella Waste Systems, Inc. (NASDAQ:CWST). This number increased from the previous quarter when 14 funds had invested in the stock. Ophir Asset Management is the largest stakeholder of the company, with 284,339 shares worth $25.72 million.

The London Company SMID Cap Strategy made the following comment about Casella Waste Systems, Inc. (NASDAQ:CWST) in its Q3 2023 investor letter:

“Initiated: Casella Waste Systems, Inc. (NASDAQ:CWST) – CWST is the 5th largest waste company in the U.S., and it’s the #1 player in the dense Northeast. CWST is vertically integrated and has significant rural market exposure (~70%) versus its peers. The Northeast hasn’t approved a new landfill permit in 30 years, so the scarcity value of landfills combined with CWST’s vertical integration has given it significant pricing power. We’re attracted to CWST’s leading position in a stable business with high degree of recurring revenue. It has low leverage and is family owned. Plus, as a smaller player in a consolidating industry, CWST could possibly be acquired by a large player in the future.”