Is Casella Waste Systems (CWST) Well-Positioned for Growth?
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Conestoga Capital Advisors, an asset management company, released its “SMid Cap Growth Strategy” second-quarter 2023 investor letter. A copy of the same can be downloaded here. The Conestoga SMid Cap Growth Composite rose 8.52% net of fees in the second quarter, compared to the Russell 2500 Growth Index’s 6.41% return. A mix of both sector allocation and stock selection contributed positively to the relative return of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Conestoga Smid Cap Strategy highlighted stocks like Casella Waste Systems, Inc. (NASDAQ:CWST) in the second quarter 2023 investor letter. Headquartered in Rutland, Vermont, Casella Waste Systems, Inc. (NASDAQ:CWST) engages in solid waste management services. On August 11, 2023, Casella Waste Systems, Inc. (NASDAQ:CWST) stock closed at $79.03 per share. One-month return of Casella Waste Systems, Inc. (NASDAQ:CWST) was -9.09%, and its shares lost 7.73% of their value over the last 52 weeks. Casella Waste Systems, Inc. (NASDAQ:CWST) has a market capitalization of $4.642 billion.
Conestoga Smid Cap Strategy made the following comment about Casella Waste Systems, Inc. (NASDAQ:CWST) in its second quarter 2023 investor letter:
"Casella Waste Systems, Inc. (NASDAQ:CWST) is the strategy’s sole position in the Utilities sector. While waste services may not seem like the typical growth industry, we believe CWST has positioned itself for long-term revenue and earnings growth through its competitive advantages in the Northeast U.S. In June, CWST raised additional capital through a secondary offering to support acquisitions in adjacent markets."
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Casella Waste Systems, Inc. (NASDAQ:CWST) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Casella Waste Systems, Inc. (NASDAQ:CWST) at the end of the first quarter which was 16 in the previous quarter.
We discussed Casella Waste Systems, Inc. (NASDAQ:CWST) in another article and shared The London Company Small Cap Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q2 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.