Invesco Ltd. Grows Position in Casella Waste Systems, Inc. (NASDAQ:CWST)

Key Points

• Invesco Ltd. increased its stake in Casella Waste Systems by 18.3%, acquiring an additional 334,790 shares and owning 3.42% of the company, valued at approximately $241.42 million.
• A total of 99.51% of Casella Waste Systems' stock is owned by institutional investors and hedge funds, indicating strong institutional support.
• Casella Waste Systems reported an earnings per share of $0.36 for the last quarter, exceeding analysts' expectations of $0.31, with a significant 23.4% increase in revenue compared to the previous year.

Invesco Ltd. grew its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 18.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,165,010 shares of the industrial products company's stock after acquiring an additional 334,790 shares during the quarter. Invesco Ltd. owned about 3.42% of Casella Waste Systems worth $241,420,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CWST. Teacher Retirement System of Texas bought a new stake in Casella Waste Systems in the 1st quarter worth approximately $1,480,000. GAMMA Investing LLC lifted its position in Casella Waste Systems by 138.6% in the 1st quarter. GAMMA Investing LLC now owns 1,303 shares of the industrial products company's stock worth $145,000 after buying an additional 757 shares during the last quarter. Bank of Montreal Can lifted its position in Casella Waste Systems by 71.7% in the 4th quarter. Bank of Montreal Can now owns 5,200 shares of the industrial products company's stock worth $550,000 after buying an additional 2,172 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in Casella Waste Systems by 0.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 42,187 shares of the industrial products company's stock worth $4,704,000 after buying an additional 174 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in Casella Waste Systems by 30.1% in the 1st quarter. TD Asset Management Inc now owns 26,312 shares of the industrial products company's stock worth $2,934,000 after buying an additional 6,086 shares during the last quarter. Institutional investors own 99.51% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CWST. Cowen reiterated a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 6th. Raymond James Financial set a $125.00 target price on Casella Waste Systems and gave the company a "strong-buy" rating in a report on Monday, August 4th. Finally, William Blair restated an "outperform" rating on shares of Casella Waste Systems in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $123.17.

Casella Waste Systems Stock Up 0.7%

CWST stock traded up $0.73 during midday trading on Friday, hitting $99.34. The stock had a trading volume of 530,836 shares, compared to its average volume of 602,065. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 551.89, a price-to-earnings-growth ratio of 4.08 and a beta of 0.83. The business has a 50-day moving average of $110.20 and a two-hundred day moving average of $111.87. Casella Waste Systems, Inc. has a 52-week low of $97.05 and a 52-week high of $121.24. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.70 and a quick ratio of 1.61.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.36 earnings per share for the quarter, topping 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 company had revenue of $465.33 million for the quarter, compared to analysts' expectations of $454.01 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The firm's revenue for the quarter was up 23.4% on a year-over-year basis. As a group, equities research analysts forecast that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

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.