Allworth Financial LP Has $124,000 Stock Position in Casella Waste Systems, Inc. $CWST

Key Points

• Allworth Financial cut its Casella Waste Systems stake by 90.8% in the second quarter, leaving 1,276 shares worth approximately $124,000. Institutional investors collectively own 99.51% of CWST.
• Casella beat quarterly expectations, reporting $0.40 in earnings per share versus the $0.36 consensus estimate and $543.75 million in revenue, up 16.9% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $112.86, compared with the stock’s reported price of $89.07.

Allworth Financial LP cut its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 90.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,276 shares of the industrial products company's stock after selling 12,543 shares during the period. Allworth Financial LP's holdings in Casella Waste Systems were worth $124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Riverbridge Partners LLC bought a new stake in shares of Casella Waste Systems during the first quarter worth about $13,742,000. Legal & General Group Plc raised its holdings in Casella Waste Systems by 134.4% in the 4th quarter. Legal & General Group Plc now owns 157,552 shares of the industrial products company's stock valued at $15,431,000 after buying an additional 90,340 shares during the last quarter. Capital Research Global Investors raised its holdings in Casella Waste Systems by 23.7% in the 4th quarter. Capital Research Global Investors now owns 2,488,034 shares of the industrial products company's stock valued at $243,678,000 after buying an additional 477,216 shares during the last quarter. Norges Bank acquired a new stake in Casella Waste Systems during the 4th quarter worth approximately $39,343,000. Finally, Congruence Capital LLC acquired a new stake in Casella Waste Systems during the 4th quarter worth approximately $16,766,000. Institutional investors own 99.51% of the company's stock.

Casella Waste Systems Stock Performance

CWST opened at $89.07 on Monday. The company has a fifty day moving average price of $91.96 and a two-hundred day moving average price of $88.40. Casella Waste Systems, Inc. has a 1-year low of $74.05 and a 1-year high of $107.96. The company has a market cap of $5.67 billion, a P/E ratio of 989.78 and a beta of 0.74. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.84.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last issued its earnings results on Thursday, August 6th. The industrial products company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. Casella Waste Systems had a return on equity of 5.32% and a net margin of 0.29%.The company had revenue of $543.75 million during the quarter, compared to the consensus estimate of $526.43 million. During the same period last year, the business posted $0.36 EPS. The firm's revenue for the quarter was up 16.9% compared to the same quarter last year. Analysts predict that Casella Waste Systems, Inc. will post 1.24 EPS for the current fiscal year.

Insider Activity at Casella Waste Systems

In related news, Director Michael Burke sold 1,100 shares of Casella Waste Systems stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $95.26, for a total value of $104,786.00. Following the completion of the sale, the director owned 13,641 shares of the company's stock, valued at approximately $1,299,441.66. This trade represents a 7.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Douglas Casella sold 1,343 shares of Casella Waste Systems stock in a transaction on Friday, August 14th. The shares were sold at an average price of $91.12, for a total transaction of $122,374.16. Following the completion of the sale, the director directly owned 90,141 shares of the company's stock, valued at approximately $8,213,647.92. The trade was a 1.47% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 18,700 shares of company stock valued at $1,709,494. Corporate insiders own 3.78% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on CWST shares. JPMorgan Chase & Co. lowered their target price on Casella Waste Systems from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, August 10th. TD Cowen reissued a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 5th. UBS Group lowered their price objective on Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating for the company in a research report on Friday, June 26th. Weiss Ratings raised Casella Waste Systems from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, August 14th. Finally, Zacks Research upgraded Casella Waste Systems from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Casella Waste Systems has an average rating of "Moderate Buy" and a consensus price target of $112.86.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc is a regional solid waste services company headquartered in Rutland, Vermont. Founded in 1975, the company provides waste collection, transfer, disposal, recycling and resource-recovery services to residential, commercial, industrial and municipal customers.

Casella's services include curbside and commercial waste collection, construction and demolition debris management, transfer station operations, recycling of paper, cardboard, plastics and other materials, and organics recycling.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.