Bank of New York Mellon Corp Acquires 452,776 Shares of Casella Waste Systems, Inc. (NASDAQ:CWST)

Bank of New York Mellon Corp raised its position in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 157.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 740,000 shares of the industrial products company's stock after purchasing an additional 452,776 shares during the quarter. Bank of New York Mellon Corp owned about 1.17% of Casella Waste Systems worth $82,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Capital Investment Advisory Services LLC acquired a new position in shares of Casella Waste Systems during the first quarter valued at approximately $235,000. Teacher Retirement System of Texas acquired a new position in shares of Casella Waste Systems during the first quarter valued at approximately $1,480,000. Cannon Global Investment Management LLC acquired a new position in shares of Casella Waste Systems during the first quarter valued at approximately $279,000. Lisanti Capital Growth LLC acquired a new position in shares of Casella Waste Systems during the first quarter valued at approximately $6,983,000. Finally, Highland Capital Management LLC acquired a new position in shares of Casella Waste Systems during the first quarter valued at approximately $276,000. Institutional investors and hedge funds own 99.51% of the company's stock.

Insider Buying and Selling at Casella Waste Systems

In related news, SVP Paul Ligon sold 2,000 shares of the stock in a transaction on Wednesday, April 16th. The stock was 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 directly owned 20,347 shares in the company, valued at approximately $2,414,578.49. This trade represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Edmond Coletta sold 5,562 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $119.18, for a total value of $662,879.16. Following the sale, the president owned 150,093 shares of the company's stock, valued at approximately $17,888,083.74. This represents a 3.57% 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.

Casella Waste Systems Stock Up 1.3%

Shares of Casella Waste Systems stock traded up $1.40 during midday trading on Monday, hitting $111.99. The company's stock had a trading volume of 269,808 shares, compared to its average volume of 393,512. The firm has a market capitalization of $7.11 billion, a P/E ratio of 509.05, a PEG ratio of 4.04 and a beta of 0.84. The stock has a 50-day simple moving average of $115.68 and a 200-day simple moving average of $112.33. The company has a quick ratio of 1.87, a current ratio of 1.96 and a debt-to-equity ratio of 0.72. 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 earnings results on Thursday, May 1st. The industrial products company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.11 by $0.08. The business had revenue of $417.10 million during the quarter, compared to analysts' expectations of $403.64 million. Casella Waste Systems had a return on equity of 4.69% and a net margin of 0.79%. Casella Waste Systems's revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 earnings per share. As a group, sell-side analysts expect that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. UBS Group raised their price objective on shares of Casella Waste Systems from $130.00 to $135.00 and gave the company a "buy" rating in a research note 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 assumed coverage on Casella Waste Systems in a report on Wednesday, April 9th. They issued a "buy" rating and a $130.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $122.67.

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.