Allspring Global Investments Holdings LLC Sells 78,573 Shares of Casella Waste Systems, Inc. $CWST

Key Points

• Allspring Global Investments Holdings LLC has sold 78,573 shares of Casella Waste Systems, reducing its stake by 10.1%, but still holds 701,706 shares worth approximately $80.57 million.
• Casella Waste Systems reported a 23.4% year-over-year revenue increase of $465.33 million, with an EPS of $0.36 for the latest quarter, exceeding estimates.
• Equities research analysts currently rate Casella Waste Systems with an average of "Moderate Buy", with a consensus price target of $112.38.

Allspring Global Investments Holdings LLC reduced its position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 10.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 701,706 shares of the industrial products company's stock after selling 78,573 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.11% of Casella Waste Systems worth $80,570,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new stake in Casella Waste Systems in the 2nd quarter valued at $25,000. Maseco LLP acquired a new position in shares of Casella Waste Systems in the second quarter valued at $25,000. Geneos Wealth Management Inc. raised its position in shares of Casella Waste Systems by 301.6% in the first quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 184 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of Casella Waste Systems in the first quarter valued at about $34,000. Finally, CWM LLC lifted its stake in shares of Casella Waste Systems by 53.7% during the 2nd quarter. CWM LLC now owns 693 shares of the industrial products company's stock worth $80,000 after buying an additional 242 shares during the last quarter. Institutional investors and hedge funds own 99.51% of the company's stock.

Casella Waste Systems Stock Up 0.1%

CWST stock opened at $89.76 on Tuesday. The firm has a 50-day moving average price of $94.55 and a 200-day moving average price of $107.11. Casella Waste Systems, Inc. has a 12 month low of $85.21 and a 12 month high of $121.24. The company has a current ratio of 1.70, a quick ratio of 1.61 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $5.70 billion, a P/E ratio of 498.67 and a beta of 0.84.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. The company had revenue of $465.33 million for the quarter, compared to analyst estimates of $454.01 million. Casella Waste Systems had a net margin of 0.64% and a return on equity of 4.97%. The firm's revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 EPS. Casella Waste Systems has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Casella Waste Systems, Inc. will post 1.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Loop Capital upgraded shares of Casella Waste Systems from a "hold" rating to a "buy" rating and set a $88.00 price objective for the company in a research report on Friday, September 19th. Barclays began coverage on Casella Waste Systems in a research note on Friday, September 19th. They set an "underweight" rating and a $88.00 target price on the stock. Weiss Ratings restated a "sell (d+)" rating on shares of Casella Waste Systems in a research note on Wednesday, October 8th. Stifel Nicolaus started coverage on Casella Waste Systems in a report on Monday, September 29th. They issued a "buy" rating and a $113.00 price objective on the stock. Finally, William Blair reissued an "outperform" rating on shares of Casella Waste Systems in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $112.38.

About Casella Waste Systems

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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