Casella Waste Systems, Inc. $CWST Stock Position Lessened by Truist Financial Corp

Key Points

• Truist Financial Corp has reduced its stake in Casella Waste Systems by 25.5%, selling 5,703 shares in the second quarter, leaving them with 16,637 shares valued at nearly $1.92 million.
• Other investors, including Bank of New York Mellon Corp and Invesco Ltd., have significantly increased their holdings, with investments rising as much as 617.0%.
• Casella Waste Systems reported earnings of $0.36 per share for the last quarter, exceeding the analyst estimate of $0.31, and experienced a 23.4% increase in revenue year-over-year.

Truist Financial Corp decreased its holdings in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 25.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,637 shares of the industrial products company's stock after selling 5,703 shares during the quarter. Truist Financial Corp's holdings in Casella Waste Systems were worth $1,920,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of CWST. Bank of New York Mellon Corp boosted its stake in Casella Waste Systems by 157.6% during the first quarter. Bank of New York Mellon Corp now owns 740,000 shares of the industrial products company's stock valued at $82,517,000 after buying an additional 452,776 shares in the last quarter. Invesco Ltd. boosted its stake in Casella Waste Systems by 18.3% during the first quarter. Invesco Ltd. now owns 2,165,010 shares of the industrial products company's stock valued at $241,420,000 after buying an additional 334,790 shares in the last quarter. Select Equity Group L.P. boosted its stake in Casella Waste Systems by 617.0% during the first quarter. Select Equity Group L.P. now owns 205,795 shares of the industrial products company's stock valued at $22,948,000 after buying an additional 177,093 shares in the last quarter. Voya Investment Management LLC boosted its stake in Casella Waste Systems by 60.9% during the first quarter. Voya Investment Management LLC now owns 450,111 shares of the industrial products company's stock valued at $50,192,000 after buying an additional 170,368 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Casella Waste Systems by 112.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 318,035 shares of the industrial products company's stock valued at $35,464,000 after buying an additional 168,003 shares in the last quarter. Institutional investors own 99.51% of the company's stock.

Casella Waste Systems Stock Up 0.2%

Shares of Casella Waste Systems stock opened at $89.63 on Friday. The stock has a 50-day moving average price of $94.81 and a 200 day moving average price of $107.31. The company has a market cap of $5.69 billion, a P/E ratio of 497.94 and a beta of 0.84. The company has a current ratio of 1.70, a quick ratio of 1.61 and a debt-to-equity ratio of 0.72. Casella Waste Systems, Inc. has a 1 year low of $85.21 and a 1 year high of $121.24.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Stifel Nicolaus assumed coverage on Casella Waste Systems in a research note on Monday, September 29th. They set a "buy" rating and a $113.00 target price for the company. Loop Capital raised Casella Waste Systems from a "hold" rating to a "buy" rating and set a $88.00 target price for the company in a research note on Friday, September 19th. William Blair reaffirmed an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Casella Waste Systems in a report on Monday. Finally, Barclays assumed coverage on Casella Waste Systems in a report on Friday, September 19th. They set an "underweight" rating and a $88.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Casella Waste Systems has an average rating of "Moderate Buy" and an average price target of $112.38.

Casella Waste Systems Profile

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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