Edgestream Partners L.P. Purchases Shares of 16,804 Casella Waste Systems, Inc. (NASDAQ:CWST)

Edgestream Partners L.P. bought a new stake in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,804 shares of the industrial products company's stock, valued at approximately $1,874,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wasatch Advisors LP raised its stake in shares of Casella Waste Systems by 48.2% during the fourth quarter. Wasatch Advisors LP now owns 2,577,308 shares of the industrial products company's stock valued at $272,705,000 after acquiring an additional 838,086 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Casella Waste Systems by 157.6% in the first quarter. Bank of New York Mellon Corp now owns 740,000 shares of the industrial products company's stock valued at $82,517,000 after purchasing an additional 452,776 shares during the period. Norges Bank bought a new stake in Casella Waste Systems during the 4th quarter worth approximately $43,785,000. Raymond James Financial Inc. purchased a new position in Casella Waste Systems in the 4th quarter worth approximately $31,326,000. Finally, Voya Investment Management LLC grew its stake in Casella Waste Systems by 1,368.2% in the 4th quarter. Voya Investment Management LLC now owns 279,743 shares of the industrial products company's stock worth $29,600,000 after buying an additional 260,689 shares in the last quarter. Institutional investors own 99.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CWST shares. TD Cowen started coverage on shares of Casella Waste Systems in a research report on Wednesday, April 9th. They set a "buy" rating and a $130.00 price target for the company. UBS Group upped their price objective on shares of Casella Waste Systems from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Cowen restated a "buy" rating on shares of Casella Waste Systems in a report on Friday, June 6th. William Blair reiterated an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Casella Waste Systems in a research note on Wednesday, April 16th. Two equities research 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.67.

Casella Waste Systems Price Performance

Shares of CWST stock traded down $0.66 during trading hours on Monday, hitting $107.28. The company had a trading volume of 573,200 shares, compared to its average volume of 394,310. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 487.66, a PEG ratio of 3.95 and a beta of 0.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.87 and a current ratio of 1.96. Casella Waste Systems, Inc. has a 12 month low of $91.01 and a 12 month high of $121.24. The firm's fifty day moving average is $114.76 and its 200 day moving average is $112.49.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced its quarterly 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. 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 quarterly revenue was up 22.3% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. On average, sell-side analysts predict that Casella Waste Systems, Inc. will post 1.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Casella Waste Systems news, President Edmond Coletta sold 5,562 shares of the business's stock in a transaction 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 transaction, the president directly owned 150,093 shares of the company's stock, valued at approximately $17,888,083.74. The trade was a 3.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.81% of the stock is currently owned by company insiders.

Casella Waste Systems Company 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.