Envestnet Asset Management Inc. cut its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 3.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 303,135 shares of the industrial products company's stock after selling 11,330 shares during the quarter. Envestnet Asset Management Inc. owned about 0.48% of Casella Waste Systems worth $33,803,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of CWST. Bank of New York Mellon Corp raised 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 worth $82,517,000 after acquiring an additional 452,776 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new position in Casella Waste Systems during the first quarter worth $235,000. Teacher Retirement System of Texas acquired a new position in Casella Waste Systems during the first quarter worth $1,480,000. Cannon Global Investment Management LLC acquired a new position in Casella Waste Systems during the first quarter worth $279,000. Finally, Lisanti Capital Growth LLC acquired a new position in Casella Waste Systems during the first quarter worth $6,983,000. 99.51% of the stock is currently owned by institutional investors and hedge funds.
Casella Waste Systems Stock Performance
Shares of NASDAQ CWST traded down $0.15 during midday trading on Wednesday, hitting $109.91. 216,294 shares of the company's stock were exchanged, compared to its average volume of 391,844. The company's 50 day moving average price is $115.35 and its 200 day moving average price is $112.36. The firm has a market capitalization of $6.97 billion, a PE ratio of 499.14, a price-to-earnings-growth ratio of 4.09 and a beta of 0.84. Casella Waste Systems, Inc. has a 12 month low of $91.01 and a 12 month high of $121.24. 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 (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, beating the consensus estimate of $0.11 by $0.08. Casella Waste Systems had a net margin of 0.79% and a return on equity of 4.69%. The company had revenue of $417.10 million during the quarter, compared to analysts' expectations of $403.64 million. During the same period in the previous year, the company earned $0.15 EPS. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, analysts predict that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several analysts have recently commented on the company. Cowen restated a "buy" rating on shares of Casella Waste Systems in a report on Friday, June 6th. William Blair restated an "outperform" rating on shares of Casella Waste Systems in a report on Tuesday. TD Cowen assumed coverage on Casella Waste Systems in a report on Wednesday, April 9th. They set a "buy" rating and a $130.00 target price on the stock. UBS Group increased their target price on Casella Waste Systems from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Casella Waste Systems in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $122.67.
Get Our Latest Research Report on CWST
Insider Activity at Casella Waste Systems
In related news, President Edmond Coletta sold 5,562 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $119.18, for a total transaction of $662,879.16. Following the sale, the president owned 150,093 shares in the company, valued at $17,888,083.74. This represents a 3.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.81% of the company's stock.
Casella Waste Systems Company Profile
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Free Report)
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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