Casella Waste Systems, Inc. $CWST Stake Boosted by TD Asset Management Inc

TD Asset Management Inc lifted its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 119.1% during the third quarter, Holdings Channel reports. The firm owned 37,462 shares of the industrial products company’s stock after buying an additional 20,362 shares during the period. TD Asset Management Inc’s holdings in Casella Waste Systems were worth $3,554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CWST. Alliancebernstein L.P. boosted its holdings in shares of Casella Waste Systems by 1,106.7% during the second quarter. Alliancebernstein L.P. now owns 867,285 shares of the industrial products company’s stock valued at $100,067,000 after acquiring an additional 795,414 shares during the period. Norges Bank acquired a new position in Casella Waste Systems during the 2nd quarter valued at about $55,948,000. Invesco Ltd. grew its position in Casella Waste Systems by 20.0% in the 2nd quarter. Invesco Ltd. now owns 2,597,599 shares of the industrial products company’s stock worth $299,711,000 after purchasing an additional 432,589 shares during the last quarter. Wasatch Advisors LP grew its position in Casella Waste Systems by 14.4% in the 2nd quarter. Wasatch Advisors LP now owns 3,412,123 shares of the industrial products company’s stock worth $393,691,000 after purchasing an additional 428,909 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in shares of Casella Waste Systems by 72.1% in the third quarter. Voya Investment Management LLC now owns 536,376 shares of the industrial products company’s stock valued at $50,891,000 after purchasing an additional 224,691 shares during the period. Institutional investors and hedge funds own 99.51% of the company’s stock.

Insider Buying and Selling

In related news, President Edmond Coletta sold 3,812 shares of Casella Waste Systems stock in a transaction on Friday, February 27th. The stock was sold at an average price of $93.70, for a total value of $357,184.40. Following the transaction, the president directly owned 147,091 shares in the company, valued at $13,782,426.70. The trade was a 2.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Kevin Drohan sold 675 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $92.61, for a total value of $62,511.75. Following the sale, the chief accounting officer directly owned 7,462 shares of the company’s stock, valued at approximately $691,055.82. This represents a 8.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,213 shares of company stock worth $1,045,887 in the last three months. 3.81% of the stock is currently owned by insiders.

Casella Waste Systems Stock Performance

Shares of CWST opened at $91.64 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The firm’s 50 day moving average is $101.07 and its 200-day moving average is $95.81. Casella Waste Systems, Inc. has a 12-month low of $82.22 and a 12-month high of $121.24. The stock has a market capitalization of $5.82 billion, a P/E ratio of 763.73 and a beta of 0.80.

Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Thursday, February 19th. The industrial products company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.22 by $0.08. The business had revenue of $469.06 million during the quarter, compared to analyst estimates of $471.32 million. Casella Waste Systems had a net margin of 0.43% and a return on equity of 5.17%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 earnings per share. Equities research analysts anticipate that Casella Waste Systems, Inc. will post 1.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CWST. Jefferies Financial Group set a $120.00 price objective on Casella Waste Systems and gave the stock a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings cut shares of Casella Waste Systems from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. lowered their target price on shares of Casella Waste Systems from $112.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $115.00 price target on shares of Casella Waste Systems in a research note on Monday, February 23rd. Finally, Barclays raised their price objective on shares of Casella Waste Systems from $95.00 to $101.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $114.22.

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.