Northern Trust Corp Buys 64,185 Shares of Casella Waste Systems, Inc. (NASDAQ:CWST)

by · The Cerbat Gem

Northern Trust Corp grew its stake in Casella Waste Systems, Inc. (NASDAQ:CWST – Free Report) by 8.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 786,478 shares of the industrial products company’s stock after acquiring an additional 64,185 shares during the period. Northern Trust Corp’s holdings in Casella Waste Systems were worth $83,217,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in Casella Waste Systems by 87.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 78,549 shares of the industrial products company’s stock valued at $7,815,000 after purchasing an additional 36,573 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Casella Waste Systems by 71.7% in the 4th quarter. Bank of Montreal Can now owns 5,200 shares of the industrial products company’s stock valued at $550,000 after buying an additional 2,172 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Casella Waste Systems by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 607,954 shares of the industrial products company’s stock valued at $64,328,000 after buying an additional 14,369 shares in the last quarter. Empowered Funds LLC acquired a new stake in Casella Waste Systems during the 4th quarter worth $201,000. Finally, Principal Securities Inc. lifted its holdings in Casella Waste Systems by 11.0% during the fourth quarter. Principal Securities Inc. now owns 1,979 shares of the industrial products company’s stock worth $209,000 after acquiring an additional 196 shares in the last quarter. 99.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Casella Waste Systems

In other news, SVP Paul Ligon sold 2,000 shares of Casella Waste Systems stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $118.67, for a total value of $237,340.00. Following the completion of the transaction, the senior vice president now owns 20,347 shares of the company’s stock, valued at $2,414,578.49. This trade represents a 8.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.24% of the company’s stock.

Casella Waste Systems Stock Performance

Shares of CWST opened at $116.75 on Monday. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 507.61, a PEG ratio of 3.86 and a beta of 0.89. Casella Waste Systems, Inc. has a 12 month low of $91.01 and a 12 month high of $120.69. The firm has a fifty day simple moving average of $112.05 and a 200 day simple moving average of $109.31. The company has a current ratio of 2.00, a quick ratio of 2.48 and a debt-to-equity ratio of 0.70.

Casella Waste Systems (NASDAQ:CWST – Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. Casella Waste Systems had a net margin of 0.87% and a return on equity of 4.15%. The company had revenue of $417.10 million during the quarter, compared to the consensus estimate of $403.64 million. During the same period in the prior year, the business posted $0.15 EPS. The company’s quarterly revenue was up 22.3% on a year-over-year basis. Research analysts forecast that Casella Waste Systems, Inc. will post 1.16 EPS for the current fiscal year.

Analysts Set New Price Targets

CWST has been the topic of a number of research analyst reports. William Blair reaffirmed an “outperform” rating on shares of Casella Waste Systems in a research report on Friday, February 14th. Stifel Nicolaus lifted their price target on shares of Casella Waste Systems from $127.00 to $129.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Jefferies Financial Group lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $115.00 to $113.00 in a report on Thursday, January 23rd. Raymond James reaffirmed a “strong-buy” rating on shares of Casella Waste Systems in a research note on Wednesday, April 16th. Finally, UBS Group lifted their price target on Casella Waste Systems from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Casella Waste Systems has a consensus rating of “Moderate Buy” and an average price target of $122.67.

Get Our Latest Analysis on Casella Waste Systems

Casella Waste Systems Profile

(Free Report)

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.

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