TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the quarter the fund returned -3.67% (net), compared to -7.32% return for the Russell 2000 Growth Index. Year-to-date the fund returned 11.56% (net) compared to 9.59% return for the index. The third quarter saw a decline in global equities markets, but they remained positive YTD. Value has generally outperformed Growth, as demonstrated by the style factors and market indexes. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare Capital U.S. Small Cap Growth Strategy highlighted stocks like Casella Waste Systems, Inc. (NASDAQ:CWST) in the third quarter 2023 investor letter. Headquartered in Rutland, Vermont, Casella Waste Systems, Inc. (NASDAQ:CWST) engages in solid waste management services. On December 6, 2023, Casella Waste Systems, Inc. (NASDAQ:CWST) stock closed at $84.38 per share. One-month return of Casella Waste Systems, Inc. (NASDAQ:CWST) was 8.43%, and its shares gained 0.99% of their value over the last 52 weeks. Casella Waste Systems, Inc. (NASDAQ:CWST) has a market capitalization of $4.893 billion.
TimesSquare Capital U.S. Small Cap Growth Strategy made the following comment about Casella Waste Systems, Inc. (NASDAQ:CWST) in its Q3 2023 investor letter:
“Many of our Industrials positions provide necessary business-to-business operational services, highly technical components, automation & efficiency improvements, or essential infrastructure services. Slipping by -11% was Casella Waste Systems, Inc. (NASDAQ:CWST), which handles solid waste collection, transfer, disposal, and recycling for residential, commercial, municipal, and industrial customers. Casella’s revenues and earnings fell slightly shy of expectations, though the company increased its guidance for the balance of the year. While its pricing power remained strong, there were fewer one-off waste projects during that period.”
Aerial view of a landfill, with the waste management company’s flagship vehicles toiling away.
Casella Waste Systems, Inc. (NASDAQ:CWST) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Casella Waste Systems, Inc. (NASDAQ:CWST)at the end of third quarter which was 28 in the previous quarter.
We discussed Casella Waste Systems, Inc. (NASDAQ:CWST) in another article and shared the list of best recycling stocks to buy. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
