Fifth Third Bancorp Sells 1,858 Shares of Casella Waste Systems, Inc. $CWST

Fifth Third Bancorp lessened its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 22.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,270 shares of the industrial products company’s stock after selling 1,858 shares during the period. Fifth Third Bancorp’s holdings in Casella Waste Systems were worth $723,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sheets Smith Wealth Management boosted its position in shares of Casella Waste Systems by 3.9% during the 1st quarter. Sheets Smith Wealth Management now owns 2,767 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 103 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Casella Waste Systems by 4.4% in the 1st quarter. Moors & Cabot Inc. now owns 2,469 shares of the industrial products company’s stock valued at $275,000 after purchasing an additional 105 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Casella Waste Systems by 1.0% in the 1st quarter. Benjamin Edwards Inc. now owns 10,998 shares of the industrial products company’s stock valued at $1,226,000 after purchasing an additional 110 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Casella Waste Systems by 17.3% in the 1st quarter. Signaturefd LLC now owns 941 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 139 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Casella Waste Systems by 4.3% in the 4th quarter. Mackenzie Financial Corp now owns 3,516 shares of the industrial products company’s stock valued at $372,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 99.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CWST. Barclays began coverage on shares of Casella Waste Systems in a research report on Friday, September 19th. They issued an “underweight” rating and a $88.00 target price on the stock. William Blair restated an “outperform” rating on shares of Casella Waste Systems in a research report on Tuesday, July 15th. Cowen restated a “buy” rating on shares of Casella Waste Systems in a research report on Friday, June 6th. Loop Capital raised shares of Casella Waste Systems from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Friday, September 19th. Finally, Raymond James Financial set a $125.00 target price on shares of Casella Waste Systems and gave the stock a “strong-buy” rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.38.

Casella Waste Systems Stock Up 1.6%

Casella Waste Systems stock opened at $89.58 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.61 and a current ratio of 1.70. The stock has a market cap of $5.69 billion, a PE ratio of 497.67 and a beta of 0.84. Casella Waste Systems, Inc. has a fifty-two week low of $85.21 and a fifty-two week high of $121.24. The firm’s 50-day simple moving average is $98.14 and its 200 day simple moving average is $108.57.

Casella Waste Systems (NASDAQ:CWST) last posted its earnings results on Thursday, July 31st. The industrial products company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. The firm had revenue of $465.33 million during the quarter, compared to the consensus estimate of $454.01 million. Casella Waste Systems had a net margin of 0.64% and a return on equity of 4.97%. The company’s revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. Casella Waste Systems has set its FY 2025 guidance at EPS. Research analysts predict that Casella Waste Systems, Inc. will post 1.16 EPS for the current fiscal year.

Casella Waste Systems Company Profile

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.