Park Avenue Securities LLC Takes $898,000 Position in Casella Waste Systems, Inc. $CWST

Key Points

• Park Avenue Securities LLC has acquired a new position in Casella Waste Systems, buying 7,782 shares valued at approximately $898,000 in the second quarter.
• Casella Waste Systems reported a 23.4% year-on-year revenue increase for the last quarter, reaching $465.33 million and beating analyst estimates.
• The stock has a consensus rating of "Moderate Buy" from analysts, with a price target average of $114.38 after several upgrades and changes in ratings.

Park Avenue Securities LLC bought a new stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 7,782 shares of the industrial products company's stock, valued at approximately $898,000.

A number of other large investors also recently modified their holdings of the business. Invesco Ltd. increased its stake in shares of Casella Waste Systems by 18.3% in the first quarter. Invesco Ltd. now owns 2,165,010 shares of the industrial products company's stock valued at $241,420,000 after purchasing an additional 334,790 shares during the period. Ameriprise Financial Inc. lifted its position in Casella Waste Systems by 5.5% in the 1st quarter. Ameriprise Financial Inc. now owns 1,479,896 shares of the industrial products company's stock worth $165,023,000 after buying an additional 77,574 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Casella Waste Systems by 13.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,419,799 shares of the industrial products company's stock valued at $158,322,000 after buying an additional 163,363 shares during the last quarter. American Century Companies Inc. increased its position in Casella Waste Systems by 10.0% during the first quarter. American Century Companies Inc. now owns 787,673 shares of the industrial products company's stock worth $87,834,000 after buying an additional 71,406 shares during the last quarter. Finally, 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. 99.51% of the stock is currently owned by institutional investors.

Casella Waste Systems Stock Up 1.6%

Shares of NASDAQ CWST opened at $89.58 on Friday. The stock has a market capitalization of $5.69 billion, a P/E ratio of 497.67 and a beta of 0.84. Casella Waste Systems, Inc. has a 1 year low of $85.21 and a 1 year high of $121.24. The company has a 50-day moving average price of $98.14 and a 200-day moving average price of $108.55. 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 (NASDAQ:CWST - Get Free Report) last released 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. Casella Waste Systems had a net margin of 0.64% and a return on equity of 4.97%. The business had revenue of $465.33 million for the quarter, compared to the consensus estimate of $454.01 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The company's revenue was up 23.4% compared to the same quarter last year. Casella Waste Systems has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Casella Waste Systems, Inc. will post 1.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Loop Capital upgraded shares of Casella Waste Systems from a "hold" rating to a "buy" rating and set a $88.00 target price for the company in a research note on Friday, September 19th. Barclays began coverage on Casella Waste Systems in a research report on Friday, September 19th. They issued an "underweight" rating and a $88.00 price objective for the company. Raymond James Financial set a $125.00 price objective on Casella Waste Systems and gave the company a "strong-buy" rating in a research report on Monday, August 4th. Cowen restated a "buy" rating on shares of Casella Waste Systems in a research note 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 analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $114.38.

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.

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