Allspring Global Investments Holdings LLC Trims Stock Holdings in Casella Waste Systems, Inc. (NASDAQ:CWST)

Allspring Global Investments Holdings LLC lowered its holdings in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 4.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 780,279 shares of the industrial products company's stock after selling 32,878 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.23% of Casella Waste Systems worth $87,922,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd raised its holdings in Casella Waste Systems by 124.4% during the fourth quarter. Covestor Ltd now owns 276 shares of the industrial products company's stock worth $29,000 after purchasing an additional 153 shares in the last quarter. Quarry LP purchased a new stake in Casella Waste Systems in the fourth quarter valued at $30,000. NBC Securities Inc. acquired a new position in Casella Waste Systems in the first quarter valued at $31,000. Jones Financial Companies Lllp grew its holdings in shares of Casella Waste Systems by 156.5% during the fourth quarter. Jones Financial Companies Lllp now owns 318 shares of the industrial products company's stock worth $34,000 after purchasing an additional 194 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Casella Waste Systems during the first quarter worth about $34,000. Institutional investors and hedge funds own 99.51% of the company's stock.

Insider Activity

In related news, SVP Paul Ligon sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $118.67, for a total transaction of $237,340.00. Following the transaction, the senior vice president directly owned 20,347 shares of the company's stock, valued at approximately $2,414,578.49. The trade was a 8.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Edmond Coletta sold 5,562 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $662,879.16. Following the completion of the sale, the president directly owned 150,093 shares of the company's stock, valued at $17,888,083.74. This trade represents a 3.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.81% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CWST shares. Raymond James Financial reissued a "strong-buy" rating on shares of Casella Waste Systems in a report on Wednesday, April 16th. Cowen reissued a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 6th. TD Cowen started coverage on shares of Casella Waste Systems in a research note on Wednesday, April 9th. They issued a "buy" rating and a $130.00 price objective on the stock. Finally, UBS Group increased their target price on shares of Casella Waste Systems from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $122.67.

Casella Waste Systems Price Performance

Shares of CWST traded down $3.40 on Wednesday, reaching $111.42. The stock had a trading volume of 310,778 shares, compared to its average volume of 392,218. Casella Waste Systems, Inc. has a twelve month low of $91.01 and a twelve month high of $121.24. The firm has a market capitalization of $7.07 billion, a PE ratio of 506.49, a PEG ratio of 4.22 and a beta of 0.84. The company has a quick ratio of 1.87, a current ratio of 1.96 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average of $116.26 and a 200 day moving average of $111.93.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.11 by $0.08. Casella Waste Systems had a return on equity of 4.69% and a net margin of 0.79%. The firm had revenue of $417.10 million during the quarter, compared to analyst estimates of $403.64 million. During the same period in the prior year, the firm posted $0.15 earnings per share. The business's quarterly revenue was up 22.3% compared to the same quarter last year. Sell-side analysts expect that Casella Waste Systems, Inc. will post 1.16 EPS for the current year.

Casella Waste Systems 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.