Allspring Global Investments Holdings LLC Acquires 22,270 Shares of Casella Waste Systems, Inc. $CWST

Key Points

• Allspring Global Investments increased its stake in Casella Waste Systems by 3.2% in the first quarter, adding 22,270 shares and bringing its total holding to 721,890 shares worth about $58.9 million.
• Institutional ownership remains extremely high, with large investors like Vanguard also boosting positions; overall, institutions own 99.51% of the company’s stock.
• Casella Waste Systems reported better-than-expected quarterly results, with EPS of $0.20 versus the $0.10 estimate and revenue up 9.6% year over year, even as the stock was trading lower on the day.

Allspring Global Investments Holdings LLC boosted its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 721,890 shares of the industrial products company's stock after buying an additional 22,270 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.14% of Casella Waste Systems worth $58,863,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Casella Waste Systems by 9.7% in the fourth quarter. Vanguard Group Inc. now owns 6,574,893 shares of the industrial products company's stock worth $643,945,000 after purchasing an additional 581,310 shares in the last quarter. Aberdeen Group plc boosted its holdings in shares of Casella Waste Systems by 79.2% in the 4th quarter. Aberdeen Group plc now owns 186,992 shares of the industrial products company's stock valued at $18,314,000 after buying an additional 82,616 shares in the last quarter. Riverbridge Partners LLC purchased a new position in shares of Casella Waste Systems in the 1st quarter worth approximately $13,742,000. SG Americas Securities LLC grew its position in shares of Casella Waste Systems by 103.4% in the 4th quarter. SG Americas Securities LLC now owns 24,268 shares of the industrial products company's stock worth $2,377,000 after buying an additional 12,334 shares during the last quarter. Finally, Yousif Capital Management LLC bought a new position in shares of Casella Waste Systems during the 4th quarter worth approximately $1,784,000. Institutional investors own 99.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CWST. Zacks Research raised shares of Casella Waste Systems from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 8th. UBS Group reduced their price target on Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating on the stock in a research report on Friday, June 26th. TD Cowen reiterated a "buy" rating on shares of Casella Waste Systems in a report on Friday, June 5th. Weiss Ratings reissued a "sell (d)" rating on shares of Casella Waste Systems in a research report on Friday, May 22nd. Finally, Barclays upgraded Casella Waste Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $101.00 to $102.00 in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $110.12.

Casella Waste Systems Trading Down 4.2%

Shares of NASDAQ:CWST opened at $95.70 on Friday. Casella Waste Systems, Inc. has a 52-week low of $74.05 and a 52-week high of $111.48. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 870.08 and a beta of 0.74. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $89.80 and a 200-day moving average price of $91.61.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.10. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The company had revenue of $457.33 million during the quarter, compared to analyst estimates of $454.49 million. During the same period last year, the firm posted $0.19 EPS. Casella Waste Systems's revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts predict that Casella Waste Systems, Inc. will post 1.06 EPS for the current year.

Insiders Place Their Bets

In related news, Director Michael K. Burke sold 2,305 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total value of $201,825.80. Following the completion of the transaction, the director owned 14,048 shares of the company's stock, valued at approximately $1,230,042.88. This represents a 14.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Edmond Coletta sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total value of $1,119,500.00. Following the completion of the sale, the chief executive officer directly owned 140,118 shares in the company, valued at approximately $12,548,968.08. The trade was a 8.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.78% of the stock is currently owned by insiders.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.

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