Allworth Financial LP Boosts Stock Position in Casella Waste Systems, Inc. $CWST

Key Points

• Allworth Financial LP sharply increased its stake in Casella Waste Systems by 1,019.4% in the fourth quarter, ending with 14,832 shares valued at about $1.45 million.
• Casella Waste Systems reported better-than-expected quarterly results, posting EPS of $0.20 versus the $0.10 estimate and revenue of $457.33 million, up 9.6% year over year.
• Analyst sentiment remains mostly positive despite mixed rating changes, with an average “Moderate Buy” rating and an average price target of $111.13.

Allworth Financial LP boosted its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 1,019.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,832 shares of the industrial products company's stock after purchasing an additional 13,507 shares during the quarter. Allworth Financial LP's holdings in Casella Waste Systems were worth $1,453,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CWST. AQR Capital Management LLC increased its holdings in Casella Waste Systems by 57.7% during the 1st quarter. AQR Capital Management LLC now owns 9,283 shares of the industrial products company's stock worth $1,035,000 after purchasing an additional 3,395 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Casella Waste Systems by 1,601.9% during the 1st quarter. Jones Financial Companies Lllp now owns 5,412 shares of the industrial products company's stock worth $603,000 after purchasing an additional 5,094 shares during the last quarter. Jane Street Group LLC grew its position in shares of Casella Waste Systems by 3,226.1% in the 1st quarter. Jane Street Group LLC now owns 69,849 shares of the industrial products company's stock worth $7,789,000 after acquiring an additional 67,749 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Casella Waste Systems by 301.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company's stock worth $27,000 after acquiring an additional 184 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Casella Waste Systems during the 2nd quarter valued at approximately $63,000. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Casella Waste Systems Price Performance

Shares of CWST opened at $85.18 on Monday. The company has a market cap of $5.42 billion, a P/E ratio of 774.43 and a beta of 0.77. The stock has a fifty day moving average price of $83.80 and a 200 day moving average price of $92.78. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 1.38. Casella Waste Systems, Inc. has a 12 month low of $74.05 and a 12 month high of $118.91.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.10. The firm had revenue of $457.33 million during the quarter, compared to the consensus estimate of $454.49 million. Casella Waste Systems had a return on equity of 5.19% and a net margin of 0.38%.The firm's revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. On average, research analysts forecast that Casella Waste Systems, Inc. will post 1.12 earnings per share for the current year.

Insider Buying and Selling

In related news, President Edmond Coletta sold 3,812 shares of the company's stock in a transaction on Friday, February 27th. The stock was sold at an average price of $93.70, for a total transaction of $357,184.40. Following the completion of the transaction, the president directly owned 147,091 shares in the company, valued at $13,782,426.70. This represents a 2.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Kevin Drohan sold 675 shares of the company's stock in a transaction on Friday, February 27th. The stock was sold at an average price of $92.61, for a total value of $62,511.75. Following the transaction, the chief accounting officer owned 7,462 shares of the company's stock, valued at approximately $691,055.82. The trade was a 8.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,830 shares of company stock valued at $1,454,208 in the last 90 days. Corporate insiders own 3.78% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group decreased their price objective on shares of Casella Waste Systems from $140.00 to $130.00 and set a "buy" rating for the company in a report on Tuesday, March 10th. Barclays raised shares of Casella Waste Systems from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $101.00 to $102.00 in a report on Monday, May 4th. JPMorgan Chase & Co. decreased their price objective on shares of Casella Waste Systems from $112.00 to $110.00 and set a "neutral" rating for the company in a report on Monday, February 23rd. Weiss Ratings downgraded shares of Casella Waste Systems from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, February 23rd. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $115.00 price objective on shares of Casella Waste Systems in a report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $111.13.

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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