TD Asset Management Inc Raises 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 boosted its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 30.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,312 shares of the industrial products company's stock after acquiring an additional 6,086 shares during the period. TD Asset Management Inc's holdings in Casella Waste Systems were worth $2,934,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on CWST shares. Cowen restated a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 6th. UBS Group increased their price target 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. TD Cowen began coverage on Casella Waste Systems in a research note on Wednesday, April 9th. They issued a "buy" rating and a $130.00 price target for the company. Raymond James Financial set a $125.00 price objective on Casella Waste Systems and gave the stock a "strong-buy" rating in a research note on Monday. Finally, William Blair reissued an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $123.17.

Casella Waste Systems Trading Down 1.0%

Shares of Casella Waste Systems stock traded down $0.98 on Wednesday, hitting $98.23. The stock had a trading volume of 321,822 shares, compared to its average volume of 445,187. The stock has a 50 day moving average of $112.92 and a 200 day moving average of $112.33. The firm has a market capitalization of $6.23 billion, a P/E ratio of 545.72, a PEG ratio of 4.21 and a beta of 0.83. Casella Waste Systems, Inc. has a twelve month low of $97.05 and a twelve month high of $121.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.87 and a current ratio of 1.70.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last issued 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 analysts' expectations of $454.01 million. Casella Waste Systems had a return on equity of 4.97% and a net margin of 0.64%. The business's quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 earnings per share. Sell-side analysts expect 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.