Allspring Global Investments Holdings LLC Boosts Stake in Casella Waste Systems, Inc. $CWST

Allspring Global Investments Holdings LLC grew its holdings in Casella Waste Systems, Inc. (NASDAQ:CWST) by 3.2% during the first quarter, HoldingsChannel reports. The firm owned 721,890 shares of the industrial products company’s stock after acquiring an additional 22,270 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Casella Waste Systems were worth $58,863,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Casella Waste Systems by 41.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 98 shares during the period. Mackenzie Financial Corp increased its stake in Casella Waste Systems by 3.9% during the 3rd quarter. Mackenzie Financial Corp now owns 3,975 shares of the industrial products company’s stock worth $377,000 after buying an additional 149 shares during the period. First Horizon Corp increased its position in shares of Casella Waste Systems by 48.6% during the fourth quarter. First Horizon Corp now owns 489 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 160 shares during the period. Geneos Wealth Management Inc. increased its holdings in Casella Waste Systems by 301.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 184 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in Casella Waste Systems by 46.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 662 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 99.51% of the company’s stock.

Insider Buying and Selling at Casella Waste Systems

In related news, CEO Edmond Coletta sold 12,500 shares of Casella Waste Systems stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $89.56, for a total value of $1,119,500.00. Following the completion of the transaction, the chief executive officer directly owned 140,118 shares in the company, valued at approximately $12,548,968.08. This trade represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael K. Burke sold 2,305 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total transaction of $201,825.80. Following the sale, the director directly owned 14,048 shares in the company, valued at $1,230,042.88. This trade represents a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.78% of the company’s stock.

Casella Waste Systems Stock Performance

Shares of CWST opened at $95.70 on Friday. Casella Waste Systems, Inc. has a 1 year low of $74.05 and a 1 year high of $111.48. The company’s 50 day simple moving average is $89.80 and its 200 day simple moving average is $91.61. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 870.08 and a beta of 0.74.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. Casella Waste Systems had a return on equity of 5.19% and a net margin of 0.38%.The business had revenue of $457.33 million during the quarter, compared to the consensus estimate of $454.49 million. During the same period in the prior year, the firm posted $0.19 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, sell-side analysts predict that Casella Waste Systems, Inc. will post 1.06 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Casella Waste Systems in a report on Friday, May 22nd. UBS Group decreased their price objective on Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating for the company in a report on Friday, June 26th. Zacks Research raised shares of Casella Waste Systems from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 8th. Barclays raised shares of Casella Waste Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $101.00 to $102.00 in a report on Monday, May 4th. Finally, TD Cowen reiterated a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Casella Waste Systems has a consensus rating of “Moderate Buy” and an average target price of $110.12.

About Casella Waste Systems

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.