State Street Corp raised its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,387,662 shares of the industrial products company's stock after purchasing an additional 75,352 shares during the period. State Street Corp owned 2.19% of Casella Waste Systems worth $138,058,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in CWST. Cetera Advisors LLC acquired a new stake in Casella Waste Systems during the 1st quarter worth about $281,000. SG Americas Securities LLC boosted its position in Casella Waste Systems by 207.3% in the 2nd quarter. SG Americas Securities LLC now owns 8,186 shares of the industrial products company's stock worth $812,000 after purchasing an additional 5,522 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Casella Waste Systems by 4.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 41,886 shares of the industrial products company's stock valued at $4,156,000 after purchasing an additional 1,677 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Casella Waste Systems by 37.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,931 shares of the industrial products company's stock valued at $489,000 after purchasing an additional 1,341 shares during the period. Finally, Blue Trust Inc. purchased a new stake in Casella Waste Systems during the second quarter worth $377,000. 99.51% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, SVP Paul Ligon sold 1,730 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $106.81, for a total value of $184,781.30. Following the sale, the senior vice president now directly owns 21,085 shares of the company's stock, valued at approximately $2,252,088.85. The trade was a 7.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.24% of the company's stock.
Casella Waste Systems Price Performance
CWST stock traded down $2.14 during midday trading on Friday, reaching $106.06. The stock had a trading volume of 265,744 shares, compared to its average volume of 312,783. Casella Waste Systems, Inc. has a 52-week low of $80.04 and a 52-week high of $114.88. The company has a current ratio of 2.55, a quick ratio of 2.48 and a debt-to-equity ratio of 0.68. The company's fifty day simple moving average is $106.18 and its 200 day simple moving average is $103.43. The company has a market cap of $6.72 billion, a price-to-earnings ratio of 883.83, a price-to-earnings-growth ratio of 6.53 and a beta of 1.02.
Casella Waste Systems (NASDAQ:CWST - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.01). Casella Waste Systems had a net margin of 0.46% and a return on equity of 3.04%. The business had revenue of $411.63 million during the quarter, compared to analyst estimates of $412.59 million. During the same quarter in the previous year, the company posted $0.35 EPS. The firm's revenue was up 16.7% on a year-over-year basis. As a group, sell-side analysts predict that Casella Waste Systems, Inc. will post 0.65 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the company. William Blair began coverage on Casella Waste Systems in a report on Thursday, October 3rd. They issued an "outperform" rating for the company. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Casella Waste Systems from $114.00 to $107.00 and set a "hold" rating on the stock in a research note on Friday, November 1st. Raymond James upped their price objective on shares of Casella Waste Systems from $121.00 to $122.00 and gave the stock a "strong-buy" rating in a research report on Thursday, September 19th. Finally, Stifel Nicolaus increased their price objective on shares of Casella Waste Systems from $117.00 to $127.00 and gave the company a "buy" rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.00.
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Casella Waste Systems Company Profile
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Free Report)
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.
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