Edgestream Partners L.P. Acquires 11,996 Shares of Casella Waste Systems, Inc. $CWST

Edgestream Partners L.P. increased its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 71.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,800 shares of the industrial products company’s stock after purchasing an additional 11,996 shares during the period. Edgestream Partners L.P.’s holdings in Casella Waste Systems were worth $3,323,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Mutual of America Capital Management LLC raised its holdings in Casella Waste Systems by 0.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 42,187 shares of the industrial products company’s stock worth $4,704,000 after buying an additional 174 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Casella Waste Systems by 48.7% in the first quarter. Cetera Investment Advisers now owns 6,216 shares of the industrial products company’s stock valued at $693,000 after buying an additional 2,035 shares during the period. LPL Financial LLC increased its position in shares of Casella Waste Systems by 15.0% during the first quarter. LPL Financial LLC now owns 28,824 shares of the industrial products company’s stock worth $3,214,000 after acquiring an additional 3,757 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Casella Waste Systems by 8.8% during the first quarter. Mackenzie Financial Corp now owns 3,826 shares of the industrial products company’s stock worth $427,000 after acquiring an additional 310 shares during the period. Finally, US Bancorp DE raised its holdings in shares of Casella Waste Systems by 49.0% during the first quarter. US Bancorp DE now owns 1,663 shares of the industrial products company’s stock worth $185,000 after acquiring an additional 547 shares during the period. 99.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CWST has been the subject of a number of research analyst reports. Barclays set a $95.00 target price on shares of Casella Waste Systems and gave the stock an “equal weight” rating in a research note on Monday, November 3rd. The Goldman Sachs Group reduced their price objective on Casella Waste Systems from $125.00 to $111.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Casella Waste Systems in a research report on Wednesday, October 8th. Loop Capital upgraded Casella Waste Systems from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research note on Friday, September 19th. Finally, UBS Group upped their price target on Casella Waste Systems from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $113.75.

Casella Waste Systems Stock Performance

CWST opened at $95.68 on Thursday. The business’s 50-day simple moving average is $90.41 and its 200 day simple moving average is $100.87. Casella Waste Systems, Inc. has a 52-week low of $82.22 and a 52-week high of $121.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.43 and a current ratio of 1.51. The firm has a market capitalization of $6.08 billion, a PE ratio of 398.68 and a beta of 0.80.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.09. Casella Waste Systems had a return on equity of 5.63% and a net margin of 0.85%.The firm had revenue of $485.35 million for the quarter, compared to analyst estimates of $477.24 million. During the same quarter in the previous year, the firm earned $0.27 EPS. The business’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts expect that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

Casella Waste Systems 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.