Salomon & Ludwin LLC Buys Shares of 3,000 Casella Waste Systems, Inc. $CWST

Key Points

• Salomon & Ludwin LLC acquired 3,000 shares of Casella Waste Systems, Inc. for approximately $335,000, indicating institutional interest in the company.
• Multiple large investors have increased their stakes in Casella Waste Systems, with Institutional investors and hedge funds owning 99.51% of the company's stock.
• Analysts have a consensus rating of "Moderate Buy" with a target price of $112.38, while the stock currently trades around $85.76.

Salomon & Ludwin LLC bought a new position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,000 shares of the industrial products company's stock, valued at approximately $335,000.

Several other large investors have also added to or reduced their stakes in the business. Mutual of America Capital Management LLC boosted its holdings in Casella Waste Systems by 9.3% during the second quarter. Mutual of America Capital Management LLC now owns 46,106 shares of the industrial products company's stock worth $5,320,000 after purchasing an additional 3,919 shares during the last quarter. Cannon Global Investment Management LLC lifted its stake in Casella Waste Systems by 68.0% in the second quarter. Cannon Global Investment Management LLC now owns 4,200 shares of the industrial products company's stock valued at $485,000 after acquiring an additional 1,700 shares during the last quarter. Catawba River Capital raised its position in shares of Casella Waste Systems by 1.9% in the second quarter. Catawba River Capital now owns 82,446 shares of the industrial products company's stock valued at $9,513,000 after purchasing an additional 1,549 shares during the period. Curated Wealth Partners LLC raised its position in shares of Casella Waste Systems by 18.8% in the second quarter. Curated Wealth Partners LLC now owns 2,447 shares of the industrial products company's stock valued at $282,000 after purchasing an additional 387 shares during the period. Finally, Moran Wealth Management LLC raised its position in shares of Casella Waste Systems by 2.5% in the second quarter. Moran Wealth Management LLC now owns 5,894 shares of the industrial products company's stock valued at $680,000 after purchasing an additional 145 shares during the period. Institutional investors and hedge funds own 99.51% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Casella Waste Systems in a research report on Monday, September 29th. They set a "buy" rating and a $113.00 price target on the stock. UBS Group lowered their price target on shares of Casella Waste Systems from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday. Loop Capital raised shares of Casella Waste Systems from a "hold" rating to a "buy" rating and set a $88.00 target price on the stock in a report on Friday, September 19th. Weiss Ratings restated a "sell (d+)" rating on shares of Casella Waste Systems in a research note on Wednesday, October 8th. Finally, William Blair restated an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $112.38.

Casella Waste Systems Stock Down 0.2%

Casella Waste Systems stock opened at $85.76 on Friday. 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, Inc. has a 12-month low of $84.60 and a 12-month high of $121.24. The firm's fifty day moving average is $93.58 and its 200 day moving average is $106.44. The company has a market capitalization of $5.44 billion, a PE ratio of 476.44 and a beta of 0.84.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last released its earnings results on Thursday, July 31st. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $465.33 million for the quarter, compared to the consensus estimate of $454.01 million. During the same quarter in the previous year, the company earned $0.22 EPS. Casella Waste Systems's quarterly revenue was up 23.4% compared to the same quarter last year. Casella Waste Systems has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Casella Waste Systems, Inc. will post 1.16 EPS for the current fiscal year.

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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