Moran Wealth Management LLC Raises Holdings in Casella Waste Systems, Inc. (NASDAQ:CWST)

Moran Wealth Management LLC lifted its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 37.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,412 shares of the industrial products company’s stock after buying an additional 1,478 shares during the quarter. Moran Wealth Management LLC’s holdings in Casella Waste Systems were worth $538,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. New Covenant Trust Company N.A. acquired a new stake in shares of Casella Waste Systems in the first quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new position in Casella Waste Systems during the 2nd quarter worth $29,000. GAMMA Investing LLC lifted its position in shares of Casella Waste Systems by 76.4% during the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 139 shares during the last quarter. Liberty One Investment Management LLC purchased a new stake in shares of Casella Waste Systems during the 2nd quarter worth approximately $167,000. Finally, Amalgamated Bank increased its stake in Casella Waste Systems by 6.4% in the third quarter. Amalgamated Bank now owns 2,110 shares of the industrial products company’s stock valued at $210,000 after purchasing an additional 126 shares during the period. 99.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. William Blair began coverage on Casella Waste Systems in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Raymond James upped their price target on Casella Waste Systems from $121.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft reduced their target price on Casella Waste Systems from $114.00 to $107.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $117.00 price objective (up from $110.00) on shares of Casella Waste Systems in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $111.50.

Casella Waste Systems Stock Performance

Shares of CWST opened at $112.56 on Friday. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 938.00, a PEG ratio of 6.48 and a beta of 0.99. Casella Waste Systems, Inc. has a one year low of $79.16 and a one year high of $112.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.55 and a quick ratio of 2.48. The company has a 50-day moving average of $102.99 and a two-hundred day moving average of $102.03.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Casella Waste Systems had a return on equity of 3.04% and a net margin of 0.46%. The firm had revenue of $411.63 million during the quarter, compared to analyst estimates of $412.59 million. During the same quarter in the prior year, the company posted $0.35 EPS. The company’s quarterly revenue was up 16.7% on a year-over-year basis. On average, equities research analysts expect that Casella Waste Systems, Inc. will post 0.65 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Paul Ligon sold 1,730 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $106.81, for a total transaction of $184,781.30. Following the completion of the transaction, the senior vice president now owns 21,085 shares of the company’s stock, valued at approximately $2,252,088.85. This represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.24% of the stock is owned by insiders.

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.