Casella Waste Systems, Inc. $CWST Position Boosted by Comerica Bank

Key Points

• Comerica Bank increased its stake in Casella Waste Systems by 13.6%, owning 491,684 shares valued at $54.83 million as of its latest filing.
• Casella Waste Systems reported a quarterly earnings per share (EPS) of $0.36, surpassing estimates, with a 23.4% revenue increase year-over-year, totaling $465.33 million.
• Wall Street analysts have a favorable outlook, with a consensus rating of “Moderate Buy” and a target price of $123.17 for the stock.

Comerica Bank lifted its position in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 13.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 491,684 shares of the industrial products company's stock after purchasing an additional 58,788 shares during the period. Comerica Bank owned about 0.78% of Casella Waste Systems worth $54,828,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Quarry LP purchased a new stake in Casella Waste Systems during the 4th quarter valued at about $30,000. NBC Securities Inc. bought a new stake in shares of Casella Waste Systems in the first quarter valued at about $31,000. Opal Wealth Advisors LLC bought a new position in Casella Waste Systems in the first quarter worth about $34,000. Johnson Financial Group Inc. purchased a new stake in shares of Casella Waste Systems during the fourth quarter worth about $44,000. Finally, Signaturefd LLC boosted its position in Casella Waste Systems by 17.3% in the first quarter. Signaturefd LLC now owns 941 shares of the industrial products company's stock valued at $105,000 after buying an additional 139 shares during the last quarter. Institutional investors own 99.51% of the company's stock.

Casella Waste Systems Price Performance

CWST stock traded up $0.03 during midday trading on Friday, hitting $98.85. 270,935 shares of the stock were exchanged, compared to its average volume of 457,389. The stock's 50-day moving average price is $107.10 and its 200-day moving average price is $111.32. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 548.50 and a beta of 0.83. Casella Waste Systems, Inc. has a fifty-two week low of $97.05 and a fifty-two week high of $121.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.61 and a current ratio of 1.70.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on CWST. Raymond James Financial set a $125.00 price target on Casella Waste Systems and gave the company a "strong-buy" rating in a report on Monday, August 4th. Cowen reaffirmed a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 6th. Finally, William Blair reaffirmed an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $123.17.

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.