TD Asset Management Inc Grows Position in Casella Waste Systems, Inc. (NASDAQ:CWST)

Key Points

• TD Asset Management Inc increased its stake in Casella Waste Systems by 30.1% in the 1st quarter, owning 26,312 shares valued at approximately $2.93 million.
• Analyst ratings for Casella Waste Systems are generally positive, with an average rating of "Moderate Buy" and a price target of $123.83.
• Casella Waste Systems reported earnings of $0.36 EPS for the quarter, exceeding expectations and marking a 23.4% increase in quarterly revenue compared to last year.

TD Asset Management Inc raised its holdings in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 30.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,312 shares of the industrial products company's stock after purchasing an additional 6,086 shares during the quarter. TD Asset Management Inc's holdings in Casella Waste Systems were worth $2,934,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CWST. Covestor Ltd grew its stake in Casella Waste Systems by 124.4% during the 4th quarter. Covestor Ltd now owns 276 shares of the industrial products company's stock worth $29,000 after purchasing an additional 153 shares in the last quarter. Quarry LP acquired a new position in shares of Casella Waste Systems during the 4th quarter worth about $30,000. NBC Securities Inc. acquired a new position in shares of Casella Waste Systems during the 1st quarter worth about $31,000. Opal Wealth Advisors LLC acquired a new position in shares of Casella Waste Systems during the 1st quarter worth about $34,000. Finally, Huntington National Bank boosted its position in shares of Casella Waste Systems by 171.6% during the 4th quarter. Huntington National Bank now owns 364 shares of the industrial products company's stock worth $39,000 after acquiring an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 99.51% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CWST. Raymond James Financial reaffirmed a "strong-buy" rating and set a $125.00 price objective (down from $129.00) on shares of Casella Waste Systems in a research report on Monday. William Blair reissued an "outperform" rating on shares of Casella Waste Systems in a research report on Tuesday, July 15th. Cowen reissued a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 6th. UBS Group upped their target price on Casella Waste Systems from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Finally, TD Cowen began coverage on Casella Waste Systems in a research report on Wednesday, April 9th. They issued a "buy" rating and a $130.00 target price for the company. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $123.17.

Casella Waste Systems Stock Performance

CWST traded down $0.44 on Monday, hitting $102.54. 802,929 shares of the company traded hands, compared to its average volume of 442,345. The company has a 50 day moving average of $113.55 and a 200-day moving average of $112.48. The company has a quick ratio of 1.87, a current ratio of 1.96 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $6.51 billion, a PE ratio of 569.67, a PEG ratio of 4.04 and a beta of 0.83. Casella Waste Systems, Inc. has a 12-month low of $97.05 and a 12-month high of $121.24.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last posted 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. The firm 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 4.98% and a net margin of 0.64%. The firm's revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 EPS. Sell-side analysts anticipate that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current year.

Insider Buying and Selling

In other news, President Edmond Coletta sold 5,562 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $119.18, for a total transaction of $662,879.16. Following the completion of the transaction, the president directly owned 150,093 shares of the company's stock, valued at approximately $17,888,083.74. This represents a 3.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.81% of the stock is currently owned by corporate insiders.

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.