LPL Financial LLC Raises Stock Position in Casella Waste Systems, Inc. $CWST

Key Points

• LPL Financial LLC increased its stake in Casella Waste Systems, Inc. by 15% during the first quarter, bringing its total holdings to 28,824 shares worth approximately $3.21 million.
• Analysts have shown optimism for Casella Waste Systems, with multiple firms reaffirming buy ratings and setting a target price of $125.00, indicating a consensus rating of "Moderate Buy."
• The company reported a 23.4% increase in revenue for the last quarter compared to the previous year, with earnings per share of $0.36, exceeding analysts' expectations.

LPL Financial LLC lifted its position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 15.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,824 shares of the industrial products company's stock after purchasing an additional 3,757 shares during the period. LPL Financial LLC's holdings in Casella Waste Systems were worth $3,214,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CWST. Quarry LP bought a new position in shares of Casella Waste Systems during the fourth quarter valued at about $30,000. NBC Securities Inc. bought a new stake in Casella Waste Systems in the first quarter worth about $31,000. Opal Wealth Advisors LLC bought a new stake in Casella Waste Systems in the first quarter worth about $34,000. Johnson Financial Group Inc. bought a new stake in Casella Waste Systems in the fourth quarter worth about $44,000. Finally, Signaturefd LLC raised its position in Casella Waste Systems by 17.3% in the first quarter. Signaturefd LLC now owns 941 shares of the industrial products company's stock worth $105,000 after acquiring an additional 139 shares during the period. 99.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CWST has been the topic of several research reports. Raymond James Financial set a $125.00 price objective on shares of Casella Waste Systems and gave the stock a "strong-buy" rating in a research report on Monday, August 4th. Cowen reaffirmed a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 6th. Finally, William Blair reiterated an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $123.17.

Casella Waste Systems Price Performance

NASDAQ:CWST traded down $0.1760 during mid-day trading on Thursday, hitting $100.9240. 43,696 shares of the stock traded hands, compared to its average volume of 453,991. The business's 50-day moving average price is $109.14 and its 200 day moving average price is $111.66. The company has a market cap of $6.41 billion, a PE ratio of 561.25, a price-to-earnings-growth ratio of 4.08 and a beta of 0.83. Casella Waste Systems, Inc. has a 12-month low of $97.05 and a 12-month high of $121.24. The company has a quick ratio of 1.61, a current ratio of 1.70 and a debt-to-equity ratio of 0.72.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.31 by $0.05. The company had revenue of $465.33 million during the quarter, compared to analysts' expectations of $454.01 million. Casella Waste Systems had a net margin of 0.64% and a return on equity of 4.97%. Casella Waste Systems's revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 earnings per share. Casella Waste Systems has set its FY 2025 guidance at EPS. On average, analysts expect that Casella Waste Systems, Inc. will post 1.16 EPS for the current fiscal year.

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.