'Jana Partners Built Stake In Casella Waste Systems, Urges Management To Improve Margins And Returns On Capital' - Reuters

Benzinga · 2d ago

Casella's underperformance could make company a takeover target
Waste management sector has become a popular investment sector
Activist pressing company to commit to achieving higher profit margins
NEW YORK, Oct 20 (Reuters) - Activist investment firm Jana Partners has built a new position in Casella Waste Systems CWST.O and wants the regional waste services company to improve its profit margins and returns on invested capital, the firm's managing partner and portfolio manager said on Tuesday.

The Rutland, Vermont-headquartered company, which has a market value of roughly $5.6 billion, has had its shares fall around 11% this year and has traded roughly flat over the past five years while competitors have performed better.