Bank of New York Mellon Corp Has $82.52 Million Stake in Casella Waste Systems, Inc. (NASDAQ:CWST)

Bank of New York Mellon Corp grew its stake in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 157.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 740,000 shares of the industrial products company's stock after acquiring an additional 452,776 shares during the period. Bank of New York Mellon Corp owned 1.17% of Casella Waste Systems worth $82,517,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Covestor Ltd grew its holdings in shares of Casella Waste Systems by 124.4% in the 4th quarter. Covestor Ltd now owns 276 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 153 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Casella Waste Systems in the 1st quarter valued at about $31,000. Quarry LP bought a new position in shares of Casella Waste Systems in the 4th quarter valued at about $30,000. Opal Wealth Advisors LLC bought a new position in shares of Casella Waste Systems in the 1st quarter valued at about $34,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Casella Waste Systems by 156.5% in the 4th quarter. Jones Financial Companies Lllp now owns 318 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 194 shares in the last quarter. Institutional investors own 99.51% of the company's stock.

Casella Waste Systems Stock Performance

CWST stock traded down $0.51 during mid-day trading on Friday, hitting $110.59. 294,091 shares of the company were exchanged, compared to its average volume of 393,650. The business has a 50 day simple moving average of $115.68 and a 200-day simple moving average of $112.33. The company has a current ratio of 1.96, a quick ratio of 1.87 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $7.02 billion, a PE ratio of 502.70, a price-to-earnings-growth ratio of 4.04 and a beta of 0.84. Casella Waste Systems, Inc. has a 1-year low of $91.01 and a 1-year high of $121.24.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.08. The firm had revenue of $417.10 million during the quarter, compared to the consensus estimate of $403.64 million. Casella Waste Systems had a net margin of 0.79% and a return on equity of 4.69%. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period last year, the business posted $0.15 earnings per share. On average, equities analysts forecast that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current year.

Insider Activity at Casella Waste Systems

In other news, President Edmond Coletta sold 5,562 shares of Casella Waste Systems stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $119.18, for a total value of $662,879.16. Following the completion of the sale, the president directly owned 150,093 shares in the company, valued at approximately $17,888,083.74. The trade was a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul Ligon sold 2,000 shares of Casella Waste Systems stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $118.67, for a total transaction of $237,340.00. Following the completion of the sale, the senior vice president owned 20,347 shares of the company's stock, valued at approximately $2,414,578.49. The trade was a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.81% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CWST. UBS Group raised their price objective on Casella Waste Systems from $130.00 to $135.00 and gave the company a "buy" rating in a report on Friday, April 11th. Raymond James Financial reiterated a "strong-buy" rating on shares of Casella Waste Systems in a research note on Wednesday, April 16th. Cowen reiterated a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 6th. Finally, TD Cowen began coverage on shares of Casella Waste Systems in a research note on Wednesday, April 9th. They issued a "buy" rating and a $130.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Casella Waste Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.67.

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.