Perma-Fix Environmental Services, Inc. (NASDAQ:PESI)’s fourth-quarter revenue was $16.757 million, which is slightly lower than the $17.116 million reported in the previous year. The CEO of the company, Mark Duff, acknowledged that the year 2022 was challenging due to the lingering effects of the COVID-19 pandemic, which caused delays in projects in both the Treatment and Services Segments. However, he expressed optimism about Perma-Fix Environmental Services, Inc. (NASDAQ:PESI)’s future growth prospects. He noted that the Treatment Segment had seen a gradual improvement in waste receipts, particularly in the last nine months of 2022, with average receipts per quarter steadily returning to pre-pandemic levels.
According to Insider Monkey’s fourth quarter database, 6 hedge funds were long Perma-Fix Environmental Services, Inc. (NASDAQ:PESI), compared to 4 funds in the prior quarter. Ken Griffin’s Citadel Investment Group is the biggest position holder in the company.
Like Waste Management, Inc. (NYSE:WM), Republic Services, Inc. (NYSE:RSG), and Waste Connections, Inc. (NYSE:WCN), Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) is one of the best waste management stocks to watch.
Here is what Long Cast Advisers has to say about Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) in its Q4 2020 investor letter:
“PESI is another stock that has been a drag on results for the quarter and year, despite the fact that it’s undergoing a remarkable turnaround partially masked by COVID related issues.
Number of Hedge Fund Holders: 8
Quest Resource Holding Corporation (NASDAQ:QRHC) provides waste management solutions for recycling, reusing, and disposing of various types of waste and recyclable materials throughout the United States. The company's services include disposal and recycling of different types of waste such as motor oil and automotive lubricants, oil filters, scrap tires, oily water, goods destruction, food waste, meat renderings, plastics, cardboard, metal, glass, construction debris, and a wide range of regulated and non-regulated solid, liquid, and gas wastes. It is one of the best waste management stocks to invest in.
On April 18, EF Hutton analyst Chip Moore initiated coverage of Quest Resource Holding Corporation (NASDAQ:QRHC) with a Buy rating and a $13 price target. Quest is a major provider of waste and recycling solutions across the United States, and according to the analyst, the company is distinct from its competitors due to its national footprint and asset-light approach. Quest Resource Holding Corporation (NASDAQ:QRHC) is also able to handle a wide range of waste streams, making it a comprehensive solution for customers. Additionally, Moore noted that the company has developed valuable data warehousing capabilities, which allow it to offer full visibility of waste streams to its clients.
According to Insider Monkey’s fourth quarter database, 8 hedge funds were bullish on Quest Resource Holding Corporation (NASDAQ:QRHC), compared to 9 funds in the earlier quarter. Nelson Obus’ Wynnefield Capital is the largest stakeholder of the company, with 2.5 million shares worth $15.70 million.
Here is what Long Cast Advisor specifically said about Quest Resource Holding Corporation (NASDAQ:QRHC) in its Q2 2022 investor letter:
“Quest Resource Holding Corporation (NASDAQ:QRHC) borrowed heavily to purchase Rome RWS, Inc., and with results from the acquired company not yet fully on the income statement, the debt ratios expanded and equity valuations declined. Management – and really the Board – is undertaking a high skill maneuver of integrating its largest acquisition to date, carrying an unprecedented level of debt all concurrent with the long planned retirement of the long tenured CFO. It’s a little more exciting than necessary but the valuation is undemanding and the opportunity set quite large.
Number of Hedge Fund Holders: 8
Montrose Environmental Group, Inc. (NYSE:MEG) is an environmental services company in the United States and internationally. The company operates in three segments – Assessment, Permitting and Response, Measurement and Analysis, and Remediation and Reuse. It is one of the top waste management stocks to watch. On February 10, Montrose Environmental Group, Inc. (NYSE:MEG) revealed that it has acquired Environmental Alliance, which is an environmental engineering and consulting firm situated in the Mid-Atlantic region.
On March 2, JPMorgan analyst Stephanie Yee downgraded Montrose Environmental Group, Inc. (NYSE:MEG) from Overweight to Neutral, and reduced its price target to $39 from $48. The analyst cited the company's Q4 results and guidance as being below expectations. Yee believes that Montrose Environmental Group, Inc. (NYSE:MEG) can achieve organic growth at a relatively high rate, but only when excluding the more volatile CTEH segment. However, the analyst noted that the company's operating leverage appears to be limited in the near term.
According to Insider Monkey’s fourth quarter database, 8 hedge funds were bullish on Montrose Environmental Group, Inc. (NYSE:MEG), with collective stakes worth $57 million. Richard Driehaus’ Driehaus Capital is the largest stakeholder of the company, with 452,302 shares worth $20 million.
Alger Weatherbie Specialized Growth Fund made the following comment about Montrose Environmental Group, Inc. (NYSE:MEG) in its Q4 2022 investor letter:
“Montrose Environmental Group, Inc. (NYSE:MEG) offers various environmental services to a diverse client base, primarily in the U.S. The company has expertise in a wide variety of areas, including environmental assessment and permitting, measurement and analysis, and remediation and reuse. During the period, the company reported solid organic growth with particular strength in areas such as Per- and polyfluoroalkyl substances (PFAS), biogas and GHG measurement. Moreover, management noted that they are not seeing a change in customer behavior or buying patterns despite a challenging macroeconomic backdrop. The company also noted that momentum continues to build in their favor on the regulatory front, with recent EPA proposals and state level regulations being introduced.”
Number of Hedge Fund Holders: 14
Heritage-Crystal Clean, Inc (NASDAQ:HCCI) caters to small and medium-sized customers in the industrial and vehicle maintenance sectors in North America. They offer services such as parts cleaning, hazardous and non-hazardous waste disposal, and used oil collection. In addition, Heritage-Crystal Clean, Inc (NASDAQ:HCCI)’s Environmental Services division provides containerized waste management, industrial and field services, antifreeze recycling, emergency and spill response, wastewater vacuum, and parts cleaning.
Kevin Steinke, an analyst at Barrington, increased the target price on Heritage-Crystal Clean, Inc (NASDAQ:HCCI) shares from $45 to $46 and maintained an Outperform rating on March 14. The company's Q4 2022 results surpassed expectations, with revenue rising by 42.2% year-over-year to $241.1 million, exceeding the firm's estimated $223.4 million and the consensus of $225.5 million. According to the analyst, the recent acquisition of Patriot Environmental Services, which was finalized on August 3, 2022, contributed 21.6 percentage points to growth. Consequently, the organic revenue growth for Q4 2022 was 20.6%.
According to Insider Monkey’s fourth quarter database, 14 hedge funds were long Heritage-Crystal Clean, Inc (NASDAQ:HCCI), compared to 19 funds in the last quarter. J. Carlo Cannell’s Cannell Capital is the largest stakeholder of the company, with 800,137 shares worth approximately $26 million.
Meridian Funds made the following comment about Heritage-Crystal Clean, Inc (NASDAQ:HCCI) in its Q3 2022 investor letter:
“Heritage-Crystal Clean, Inc (NASDAQ:HCCI) is an environmental services company focused on machine parts cleaning, used oil collection, oil re-refining, and hazardous and non-hazardous waste services. Our rationale for investing in this company includes the recurring revenue stream it generates from its environmental services business unit and substantial growth opportunities in the re-refinery and used oil collection segments. Continued strong execution and higher oil prices contributed to the stock’s solid performance during the period. Notably, Heritage-Crystal Clean’s oil business segment generated record revenue in the second quarter and saw segment margins improve to 41%, as the spread between base oil sales and the cost of collecting used oil widened. The company’s core environmental services segment also recorded record quarterly revenue. We believe the environmental, social, and governance (ESG) story at Heritage remains underappreciated by the market as the company collects used motor oil and recycles it for reuse. We have high conviction in the long-term growth story for the company, but trimmed our position in the stock during the period as the share price appreciated.”
Number of Hedge Fund Holders: 14
Li-Cycle Holdings Corp. (NYSE:LICY) specializes in the recovery and recycling of lithium-ion batteries. The company offers a variety of cathode and anode battery materials, including lithium, nickel, and cobalt, as well as graphite, copper, and aluminum. Additionally, Li-Cycle Holdings Corp. (NYSE:LICY) provides hub products like lithium carbonate, cobalt sulphate, nickel sulphate, and manganese carbonate. It is one of the best waste management stocks to invest in. On March 27, Li-Cycle Holdings Corp. (NYSE:LICY) revealed that it has formed a fresh partnership for the recycling of lithium-ion batteries and intends to establish a recycling facility in France.
According to Baird analyst Ben Kallo, Li-Cycle Holdings Corp. (NYSE:LICY)’s Q4 results were below expectations and were negatively influenced by fair market value adjustments, resulting in a decrease in the firm's price target from $8 to $7. Despite this, black mass production exceeded previous estimates, increasing both sequentially and year-over-year. The analyst maintained a Neutral rating on the company's shares on January 31.
According to Insider Monkey’s fourth quarter database, 14 hedge funds were long Li-Cycle Holdings Corp. (NYSE:LICY), compared to 15 funds in the prior quarter. Zilvinas Mecelis’ Covalis Capital is the biggest position holder in the company, with 11.2 million shares worth $53.3 million.
Number of Hedge Fund Holders: 16
Casella Waste Systems, Inc. (NASDAQ:CWST) provides resource management services through its subsidiaries. These services include solid waste collection and disposal, transfer, recycling, and organics services. Casella Waste Systems, Inc. (NASDAQ:CWST) caters to a wide range of customers, including residential, commercial, municipal, institutional, and industrial clients. In the fourth quarter of 2022, the company’s revenue of $272.1 million climbed 12.5% on a year-over-year basis, beating market consensus by $7.95 million.
On January 10, UBS analyst Jon Windham upgraded Casella Waste Systems, Inc. (NASDAQ:CWST) to Buy from Neutral with a $95 price target.
According to Insider Monkey’s fourth quarter database, 16 hedge funds were bullish on Casella Waste Systems, Inc. (NASDAQ:CWST), compared to 23 funds in the last quarter. Mario Gabelli’s GAMCO Investors is the largest stakeholder of the company, with 118,000 shares worth $9.35 million.
In addition to Waste Management, Inc. (NYSE:WM), Republic Services, Inc. (NYSE:RSG), and Waste Connections, Inc. (NYSE:WCN), Casella Waste Systems, Inc. (NASDAQ:CWST) is one of the top waste management stocks to monitor.
Click to continue reading and see 5 Best Waste Management Stocks to Buy Now.
Suggested articles:
Disclosure: None. 11 Best Waste Management Stocks to Buy Now is originally published on Insider Monkey.
