18,900 Shares in Casella Waste Systems, Inc. (NASDAQ:CWST) Bought by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB acquired a new stake in Casella Waste Systems, purchasing 18,900 shares valued at approximately $2.1 million during the first quarter.
• Recent analyst reports indicate a generally positive outlook for Casella Waste Systems, with multiple brokerages issuing "buy" ratings and a consensus target price of $123.83.
• Casella Waste Systems reported a 22.3% increase in quarterly revenue year-over-year and an EPS of $0.19, surpassing analyst expectations.

Skandinaviska Enskilda Banken AB publ purchased a new stake in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 18,900 shares of the industrial products company's stock, valued at approximately $2,108,000.

A number of other hedge funds also recently bought and sold shares of CWST. Vanguard Group Inc. increased its holdings in shares of Casella Waste Systems by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 6,110,529 shares of the industrial products company's stock valued at $646,555,000 after acquiring an additional 123,001 shares during the last quarter. Wasatch Advisors LP grew its stake in Casella Waste Systems by 48.2% during the 4th quarter. Wasatch Advisors LP now owns 2,577,308 shares of the industrial products company's stock worth $272,705,000 after buying an additional 838,086 shares during the last quarter. Invesco Ltd. grew its stake in Casella Waste Systems by 0.8% during the 4th quarter. Invesco Ltd. now owns 1,830,220 shares of the industrial products company's stock worth $193,656,000 after buying an additional 13,678 shares during the last quarter. Wellington Management Group LLP grew its stake in Casella Waste Systems by 13.1% during the 4th quarter. Wellington Management Group LLP now owns 1,644,476 shares of the industrial products company's stock worth $174,002,000 after buying an additional 190,023 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Casella Waste Systems by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 1,446,875 shares of the industrial products company's stock worth $153,129,000 after buying an additional 15,917 shares during the last quarter. Institutional investors and hedge funds own 99.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CWST shares. TD Cowen started coverage on Casella Waste Systems in a research note on Wednesday, April 9th. They set a "buy" rating and a $130.00 price target on the stock. Cowen restated a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 6th. William Blair restated an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. Raymond James Financial dropped their price target on Casella Waste Systems from $135.00 to $129.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, July 22nd. Finally, UBS Group increased their price objective on Casella Waste Systems from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Casella Waste Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.83.

Insider Activity at Casella Waste Systems

In other Casella Waste Systems news, President Edmond Coletta sold 5,562 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $662,879.16. Following the sale, the president directly owned 150,093 shares in the company, valued at approximately $17,888,083.74. The trade was a 3.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.81% of the company's stock.

Casella Waste Systems Stock Performance

Casella Waste Systems stock traded down $6.77 during mid-day trading on Friday, reaching $101.97. 505,509 shares of the company were exchanged, compared to its average volume of 435,295. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.87 and a current ratio of 1.96. The firm's 50-day simple moving average is $113.80 and its two-hundred day simple moving average is $112.53. The firm has a market cap of $6.47 billion, a PE ratio of 463.34, a price-to-earnings-growth ratio of 4.26 and a beta of 0.84. Casella Waste Systems, Inc. has a twelve month low of $91.01 and a twelve month high of $121.24.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.05. The firm had revenue of $465.33 million during the quarter, compared to analysts' expectations of $454.01 million. Casella Waste Systems had a return on equity of 4.69% and a net margin of 0.79%. Casella Waste Systems's revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 earnings per share. Equities analysts predict that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal 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.