Norges Bank Makes New Investment in Casella Waste Systems, Inc. (NASDAQ:CWST)

Norges Bank purchased a new stake in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 413,805 shares of the industrial products company's stock, valued at approximately $43,785,000. Norges Bank owned about 0.65% of Casella Waste Systems as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in CWST. Wealth Enhancement Advisory Services LLC grew its position in shares of Casella Waste Systems by 87.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 78,549 shares of the industrial products company's stock valued at $7,815,000 after purchasing an additional 36,573 shares during the period. Geode Capital Management LLC increased its stake in shares of Casella Waste Systems by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,430,958 shares of the industrial products company's stock valued at $142,393,000 after acquiring an additional 109,288 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Casella Waste Systems by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 607,954 shares of the industrial products company's stock worth $64,328,000 after acquiring an additional 14,369 shares during the period. Stifel Financial Corp boosted its position in shares of Casella Waste Systems by 22.9% in the third quarter. Stifel Financial Corp now owns 31,563 shares of the industrial products company's stock worth $3,140,000 after acquiring an additional 5,888 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in Casella Waste Systems in the fourth quarter valued at approximately $201,000. Hedge funds and other institutional investors own 99.51% of the company's stock.

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Wall Street Analyst Weigh In

CWST has been the topic of a number of recent analyst reports. TD Cowen assumed coverage on shares of Casella Waste Systems in a research note on Wednesday. They set a "buy" rating and a $130.00 price target on the stock. Stifel Nicolaus increased their target price on Casella Waste Systems from $127.00 to $129.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. William Blair reissued an "outperform" rating on shares of Casella Waste Systems in a research report on Friday, February 14th. Finally, Jefferies Financial Group lowered Casella Waste Systems from a "buy" rating to a "hold" rating and dropped their price target for the stock from $115.00 to $113.00 in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Casella Waste Systems presently has a consensus rating of "Moderate Buy" and an average target price of $120.20.

Casella Waste Systems Stock Up 7.1 %

NASDAQ CWST traded up $7.36 during trading hours on Wednesday, hitting $111.14. The company had a trading volume of 771,371 shares, compared to its average volume of 344,288. The firm's 50 day moving average is $110.10 and its 200 day moving average is $107.35. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of 483.22, a P/E/G ratio of 3.86 and a beta of 0.96. Casella Waste Systems, Inc. has a fifty-two week low of $86.41 and a fifty-two week high of $116.31. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.00 and a quick ratio of 2.48.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced its earnings results on Wednesday, February 12th. The industrial products company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.16 by $0.25. Casella Waste Systems had a return on equity of 4.15% and a net margin of 0.87%. Sell-side analysts anticipate that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.