Casella Waste Systems, Inc. $CWST Position Increased by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets sharply increased its Casella Waste Systems stake by 1,278.2% in the fourth quarter, ending with 177,222 shares valued at about $17.4 million.
• Casella Waste Systems reported better-than-expected quarterly results, with EPS of $0.20 versus $0.10 expected and revenue of $457.33 million, up 9.6% year over year.
• The stock was trading around $85.90, while analysts remained generally positive overall with a consensus rating of Moderate Buy and an average target price of $111.13, though some insiders recently sold shares.

BNP Paribas Financial Markets increased its stake in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 1,278.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 177,222 shares of the industrial products company's stock after purchasing an additional 164,363 shares during the period. BNP Paribas Financial Markets owned 0.28% of Casella Waste Systems worth $17,357,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. lifted its holdings 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 purchasing an additional 184 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Casella Waste Systems by 235.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 200 shares during the period. Smartleaf Asset Management LLC increased its position in Casella Waste Systems by 180.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 191 shares during the period. Optiver Holding B.V. increased its position in Casella Waste Systems by 280.0% in the 3rd quarter. Optiver Holding B.V. now owns 399 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 294 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Casella Waste Systems in the 3rd quarter valued at approximately $39,000. Institutional investors own 99.51% of the company's stock.

Casella Waste Systems Stock Up 2.7%

Shares of CWST stock opened at $85.90 on Friday. Casella Waste Systems, Inc. has a 1 year low of $74.05 and a 1 year high of $118.91. The stock has a market cap of $5.46 billion, a PE ratio of 780.98 and a beta of 0.77. The business's fifty day moving average is $83.54 and its 200-day moving average is $92.52. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.38 and a current ratio of 1.38.

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

Wall Street Analyst Weigh In

Several research firms recently commented on CWST. Raymond James Financial restated a "strong-buy" rating and issued a $115.00 target price on shares of Casella Waste Systems in a research report on Monday, February 23rd. UBS Group lowered their target price on Casella Waste Systems from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, March 10th. Barclays upgraded Casella Waste Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $101.00 to $102.00 in a research report on Monday, May 4th. TD Cowen restated a "buy" rating on shares of Casella Waste Systems in a research report on Friday. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Casella Waste Systems in a research report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $111.13.

Insider Transactions at Casella Waste Systems

In other news, CFO Bradford John Helgeson sold 405 shares of Casella Waste Systems stock in a transaction on Monday, March 16th. The stock was sold at an average price of $87.73, for a total transaction of $35,530.65. Following the transaction, the chief financial officer directly owned 7,342 shares in the company, valued at approximately $644,113.66. This trade represents a 5.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edmond Coletta sold 12,500 shares of Casella Waste Systems stock in a transaction 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 transaction, the chief executive officer owned 140,118 shares in the company, valued at approximately $12,548,968.08. This trade represents a 8.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,422 shares of company stock valued at $1,729,647 in the last quarter. Company insiders own 3.78% of the company's stock.

About Casella Waste Systems

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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