LPL Financial LLC Increases Stake in Casella Waste Systems, Inc. (NASDAQ:CWST)

LPL Financial LLC increased its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 15.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,824 shares of the industrial products company’s stock after acquiring an additional 3,757 shares during the period. LPL Financial LLC’s holdings in Casella Waste Systems were worth $3,214,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CWST. Quarry LP bought a new position in shares of Casella Waste Systems in the fourth quarter worth approximately $30,000. NBC Securities Inc. bought a new position in Casella Waste Systems during the first quarter valued at approximately $31,000. Opal Wealth Advisors LLC bought a new position in Casella Waste Systems during the first quarter valued at approximately $34,000. Johnson Financial Group Inc. bought a new position in Casella Waste Systems during the fourth quarter valued at approximately $44,000. Finally, Signaturefd LLC lifted its position in Casella Waste Systems by 17.3% during the first quarter. Signaturefd LLC now owns 941 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 139 shares during the period. Institutional investors own 99.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Casella Waste Systems in a report on Tuesday, July 15th. Cowen reaffirmed a “buy” rating on shares of Casella Waste Systems in a report on Friday, June 6th. Finally, Raymond James Financial set a $125.00 price objective on shares of Casella Waste Systems and gave the stock a “strong-buy” rating in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.17.

Casella Waste Systems Stock Up 0.7%

Shares of Casella Waste Systems stock opened at $99.34 on Friday. The firm’s 50 day moving average price is $110.20 and its 200-day moving average price is $111.87. The company has a quick ratio of 1.61, a current ratio of 1.70 and a debt-to-equity ratio of 0.72. Casella Waste Systems, Inc. has a 52-week low of $97.05 and a 52-week high of $121.24. The company has a market cap of $6.31 billion, a P/E ratio of 551.89, a PEG ratio of 4.08 and a beta of 0.83.

Casella Waste Systems (NASDAQ:CWST) last posted its earnings results on Thursday, July 31st. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. Casella Waste Systems had a net margin of 0.64% and a return on equity of 4.97%. The firm had revenue of $465.33 million during the quarter, compared to analysts’ expectations of $454.01 million. During the same period in the previous year, the business posted $0.22 EPS. The business’s revenue was up 23.4% compared to the same quarter last year. On average, sell-side analysts predict that Casella Waste Systems, Inc. will post 1.16 EPS 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.