Royal Bank of Canada Sells 4,929 Shares of Casella Waste Systems, Inc. $CWST

Key Points

• Royal Bank of Canada reduced its holdings in Casella Waste Systems by 3.9%, selling 4,929 shares in the first quarter, resulting in ownership of 122,918 shares worth approximately $13.7 million.
• Analysts are generally positive about Casella Waste Systems, with a consensus rating of "Moderate Buy" and a price target averaging $123.17, highlighting a strong preference from multiple firms.
• Casella Waste Systems reported an earnings per share (EPS) of $0.36 for the last quarter, surpassing estimates, with a revenue increase of 23.4% compared to the same quarter last year.

Royal Bank of Canada reduced its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 3.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,918 shares of the industrial products company's stock after selling 4,929 shares during the quarter. Royal Bank of Canada owned approximately 0.19% of Casella Waste Systems worth $13,705,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. NBC Securities Inc. bought a new stake in shares of Casella Waste Systems during the 1st quarter valued at about $31,000. Opal Wealth Advisors LLC bought a new stake in Casella Waste Systems during the 1st quarter valued at approximately $34,000. Signaturefd LLC grew its holdings in shares of Casella Waste Systems by 17.3% during the 1st 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. Harbor Investment Advisory LLC raised its position in shares of Casella Waste Systems by 22.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 975 shares of the industrial products company's stock worth $109,000 after acquiring an additional 177 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Casella Waste Systems by 138.6% in the 1st quarter. GAMMA Investing LLC now owns 1,303 shares of the industrial products company's stock valued at $145,000 after purchasing an additional 757 shares during the period. 99.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Casella Waste Systems Stock Down 1.6%

Shares of NASDAQ CWST traded down $1.46 during midday trading on Tuesday, hitting $88.80. The stock had a trading volume of 515,492 shares, compared to its average volume of 461,310. The business's 50 day moving average is $101.63 and its 200-day moving average is $109.75. Casella Waste Systems, Inc. has a 52 week low of $88.34 and a 52 week 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. The company has a market cap of $5.64 billion, a P/E ratio of 493.33 and a beta of 0.84.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.36 earnings per share 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 the consensus estimate of $454.01 million. Casella Waste Systems had a net margin of 0.64% and a return on equity of 4.97%. The firm's quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 earnings per share. Casella Waste Systems has set its FY 2025 guidance at EPS. As a group, analysts predict that Casella Waste Systems, Inc. will post 1.16 EPS for the current year.

About Casella Waste Systems

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.