Casella Waste Systems, Inc. $CWST Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp boosted its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 5,715.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 387,531 shares of the industrial products company’s stock after purchasing an additional 380,867 shares during the period. Fifth Third Bancorp owned approximately 0.61% of Casella Waste Systems worth $30,747,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CWST. EverSource Wealth Advisors LLC increased its position in Casella Waste Systems by 41.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 98 shares during the period. Mackenzie Financial Corp lifted its position 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 acquiring an additional 149 shares during the period. First Horizon Corp lifted its position in Casella Waste Systems by 48.6% during the 4th 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. lifted its position 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 acquiring an additional 184 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Casella Waste Systems by 46.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 662 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 211 shares during the last quarter. 99.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CWST. UBS Group dropped their target price on Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating on the stock in a report on Friday, June 26th. Barclays raised Casella Waste Systems from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $101.00 to $102.00 in a report on Monday, May 4th. Zacks Research upgraded shares of Casella Waste Systems from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Casella Waste Systems in a research note on Friday, May 22nd. Finally, TD Cowen restated a “buy” rating on shares of Casella Waste Systems in a research report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Casella Waste Systems presently has an average rating of “Moderate Buy” and a consensus price target of $110.12.

Casella Waste Systems Stock Up 1.3%

CWST opened at $98.09 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 1.38. The business has a 50 day simple moving average of $88.88 and a 200-day simple moving average of $91.65. The stock has a market capitalization of $6.24 billion, a P/E ratio of 891.81 and a beta of 0.74. Casella Waste Systems, Inc. has a 12 month low of $74.05 and a 12 month high of $112.88.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $0.20 earnings per share 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 firm had revenue of $457.33 million for the quarter, compared to analyst estimates of $454.49 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. Casella Waste Systems’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts anticipate that Casella Waste Systems, Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Transactions at Casella Waste Systems

In other news, Director Michael K. Burke sold 2,305 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total value of $201,825.80. Following the completion of the transaction, the director owned 14,048 shares in the company, valued at $1,230,042.88. This trade represents a 14.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Edmond Coletta sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total transaction of $1,119,500.00. Following the completion of the sale, the chief executive officer owned 140,118 shares of the company’s stock, valued at $12,548,968.08. This trade represents a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.78% of the company’s stock.

Casella Waste Systems Profile

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.