NewEdge Advisors LLC Increases Stock Holdings in Casella Waste Systems, Inc. (NASDAQ:CWST)

NewEdge Advisors LLC lifted its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 279.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,061 shares of the industrial products company's stock after acquiring an additional 2,254 shares during the quarter. NewEdge Advisors LLC's holdings in Casella Waste Systems were worth $324,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CWST. Vanguard Group Inc. increased its holdings in Casella Waste Systems by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 6,110,529 shares of the industrial products company's stock worth $646,555,000 after purchasing an additional 123,001 shares during the period. Invesco Ltd. grew its position in shares of Casella Waste Systems by 0.8% during the fourth 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 in the last quarter. Wellington Management Group LLP increased its stake in shares of Casella Waste Systems by 13.1% during the fourth 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 period. Geode Capital Management LLC raised its holdings in Casella Waste Systems by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 1,446,875 shares of the industrial products company's stock valued at $153,129,000 after acquiring an additional 15,917 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in Casella Waste Systems by 2.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 871,344 shares of the industrial products company's stock worth $92,197,000 after acquiring an additional 22,368 shares during the last quarter. 99.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CWST has been the topic of a number of analyst reports. Raymond James reaffirmed a "strong-buy" rating on shares of Casella Waste Systems in a research report on Wednesday, April 16th. William Blair reaffirmed an "outperform" rating on shares of Casella Waste Systems in a research report on Friday, February 14th. TD Cowen started coverage on shares of Casella Waste Systems in a report on Wednesday, April 9th. They set a "buy" rating and a $130.00 price objective on the stock. Jefferies Financial Group lowered Casella Waste Systems from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $115.00 to $113.00 in a report on Thursday, January 23rd. Finally, UBS Group boosted their target price on Casella Waste Systems from $130.00 to $135.00 and gave the company a "buy" rating in a report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.67.

Casella Waste Systems Stock Performance

CWST traded up $2.13 on Tuesday, hitting $120.37. 619,886 shares of the company traded hands, compared to its average volume of 368,248. The company has a 50 day moving average of $112.49 and a 200-day moving average of $109.48. Casella Waste Systems, Inc. has a 12-month low of $91.01 and a 12-month high of $120.89. The stock has a market capitalization of $7.63 billion, a PE ratio of 523.35, a PEG ratio of 3.86 and a beta of 0.89. The company has a quick ratio of 2.48, a current ratio of 2.00 and a debt-to-equity ratio of 0.70.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.08. Casella Waste Systems had a net margin of 0.87% and a return on equity of 4.15%. The firm had revenue of $417.10 million for the quarter, compared to analyst estimates of $403.64 million. During the same period last year, the firm posted $0.15 EPS. Casella Waste Systems's quarterly revenue was up 22.3% on a year-over-year basis. Sell-side analysts anticipate that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current year.

Insider Activity at Casella Waste Systems

In other Casella Waste Systems news, SVP Paul Ligon sold 2,000 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $118.67, for a total value of $237,340.00. Following the completion of the sale, the senior vice president now owns 20,347 shares of the company's stock, valued at approximately $2,414,578.49. This trade represents a 8.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.24% of the stock is owned by insiders.

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.