Casella Waste Systems (NASDAQ:CWST) Issues Quarterly Earnings Results

Casella Waste Systems (NASDAQ:CWST) announced its quarterly earnings results on Thursday. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04, FiscalAI reports. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The company had revenue of $543.75 million during the quarter, compared to the consensus estimate of $526.43 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year.

Casella Waste Systems Trading Up 0.5%

Casella Waste Systems stock opened at $90.46 on Friday. The company’s fifty day simple moving average is $91.05 and its 200-day simple moving average is $90.53. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. Casella Waste Systems has a 12 month low of $74.05 and a 12 month high of $107.96. The stock has a market cap of $5.75 billion, a P/E ratio of 822.44 and a beta of 0.74.

Insider Buying and Selling at Casella Waste Systems

In related news, CEO Edmond Coletta sold 12,500 shares of Casella Waste Systems stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $89.56, for a total transaction of $1,119,500.00. Following the completion of the sale, the chief executive officer owned 140,118 shares of the company’s stock, valued at approximately $12,548,968.08. This trade represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael K. Burke sold 2,305 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total value of $201,825.80. Following the completion of the transaction, the director directly owned 14,048 shares in the company, valued at approximately $1,230,042.88. The trade was a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its position in Casella Waste Systems by 309.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,534 shares of the industrial products company’s stock worth $150,000 after purchasing an additional 1,159 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Casella Waste Systems by 46.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 662 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 211 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Casella Waste Systems by 2,141.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 650 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 621 shares during the period. Advisory Services Network LLC bought a new position in shares of Casella Waste Systems in the 3rd quarter valued at about $80,000. Finally, Larson Financial Group LLC grew its position in shares of Casella Waste Systems by 735.3% during the 3rd quarter. Larson Financial Group LLC now owns 1,679 shares of the industrial products company’s stock worth $159,000 after buying an additional 1,478 shares during the period. Institutional investors and hedge funds own 99.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CWST. TD Cowen reiterated a “buy” rating on shares of Casella Waste Systems in a research report on Friday, June 5th. UBS Group dropped their price target on Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. Barclays raised shares of Casella Waste Systems from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $101.00 to $102.00 in a research note on Monday, May 4th. Zacks Research upgraded shares of Casella Waste Systems from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Casella Waste Systems in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Casella Waste Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.12.

Casella Waste Systems Company Profile

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.