LPL Financial LLC Purchases 3,757 Shares of 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 stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,824 shares of the industrial products company's stock after purchasing an additional 3,757 shares during the quarter. LPL Financial LLC's holdings in Casella Waste Systems were worth $3,214,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. TD Asset Management Inc grew its holdings in shares of Casella Waste Systems by 30.1% during the 1st quarter. TD Asset Management Inc now owns 26,312 shares of the industrial products company's stock worth $2,934,000 after purchasing an additional 6,086 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Casella Waste Systems during the 1st quarter worth $2,108,000. Cetera Investment Advisers grew its holdings in shares of Casella Waste Systems by 48.7% during the 1st quarter. Cetera Investment Advisers now owns 6,216 shares of the industrial products company's stock worth $693,000 after purchasing an additional 2,035 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Casella Waste Systems by 3.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 12,504 shares of the industrial products company's stock worth $1,394,000 after purchasing an additional 461 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new stake in shares of Casella Waste Systems during the 1st quarter worth $1,886,000. 99.51% of the stock is owned by institutional investors and hedge funds.

Casella Waste Systems Price Performance

Shares of CWST stock traded up $0.52 on Thursday, hitting $101.62. 702,739 shares of the company's stock were exchanged, compared to its average volume of 592,915. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.70 and a quick ratio of 1.61. Casella Waste Systems, Inc. has a 12 month low of $97.05 and a 12 month high of $121.24. The stock has a market cap of $6.45 billion, a P/E ratio of 564.56, a price-to-earnings-growth ratio of 4.15 and a beta of 0.83. The company has a 50 day moving average of $108.81 and a 200 day moving average of $111.61.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on CWST. Raymond James Financial set a $125.00 target price on Casella Waste Systems and gave the stock a "strong-buy" rating in a report on Monday, August 4th. William Blair reissued an "outperform" rating on shares of Casella Waste Systems in a report on Tuesday, July 15th. Finally, Cowen reissued a "buy" rating on shares of Casella Waste Systems in a report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $123.17.

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.