Casella Waste Systems, Inc. $CWST Stock Position Raised by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans increased its Casella Waste Systems stake by 17.7% in the fourth quarter, bringing its holdings to 124,356 shares worth about $12.18 million.
• Analyst sentiment remains generally positive: the stock has an average rating of Moderate Buy with an average target price of $111.13, though recent updates were mixed with both target cuts and upgrades.
• Casella reported better-than-expected quarterly results, earning $0.20 per share versus the $0.10 estimate and posting revenue of $457.33 million, up 9.6% year over year.

Thrivent Financial for Lutherans raised its stake in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 17.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,356 shares of the industrial products company's stock after acquiring an additional 18,671 shares during the period. Thrivent Financial for Lutherans owned 0.20% of Casella Waste Systems worth $12,179,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CWST. Smartleaf Asset Management LLC grew its position in shares of Casella Waste Systems by 180.2% during the third quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company's stock worth $27,000 after acquiring an additional 191 shares during the last quarter. Geneos Wealth Management Inc. increased 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 acquiring an additional 184 shares during the period. First Horizon Corp bought a new stake in Casella Waste Systems in the 3rd quarter valued at about $31,000. EverSource Wealth Advisors LLC lifted 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 purchasing an additional 200 shares during the last quarter. Finally, Optiver Holding B.V. boosted its stake in Casella Waste Systems by 280.0% during the 3rd quarter. Optiver Holding B.V. now owns 399 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 294 shares during the period. 99.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on CWST shares. 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 decreased their price target on Casella Waste Systems from $140.00 to $130.00 and set a "buy" rating for the company in a research note on Tuesday, March 10th. Weiss Ratings lowered Casella Waste Systems from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, February 23rd. JPMorgan Chase & Co. cut their price objective on shares of Casella Waste Systems from $112.00 to $110.00 and set a "neutral" rating on the stock in a research note on Monday, February 23rd. Finally, Barclays upgraded shares of Casella Waste Systems from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $101.00 to $102.00 in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $111.13.

Casella Waste Systems Trading Up 3.4%

Casella Waste Systems stock opened at $88.10 on Tuesday. Casella Waste Systems, Inc. has a 52 week low of $74.05 and a 52 week high of $118.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 800.98 and a beta of 0.77. The company has a 50 day moving average price of $83.61 and a 200 day moving average price of $92.78.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share 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 quarter in the previous year, the business posted $0.19 EPS. The business's revenue for the quarter was up 9.6% on a year-over-year basis. Research analysts forecast that Casella Waste Systems, Inc. will post 1.12 EPS for the current year.

Insider Buying and Selling at Casella Waste Systems

In other news, CFO Bradford John Helgeson sold 405 shares of Casella Waste Systems stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $87.73, for a total value 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. The trade was a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Kevin Drohan sold 675 shares of Casella Waste Systems stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 7,462 shares in the company, valued at approximately $691,055.82. This represents a 8.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 15,830 shares of company stock worth $1,454,208. Company insiders own 3.78% of the company's stock.

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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