BlackRock Inc. increased its stake in Casella Waste Systems Inc. (NASDAQ:CWST) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,827,603 shares of the industrial products company’s stock after purchasing an additional 69,356 shares during the quarter. BlackRock Inc. owned 6.59% of Casella Waste Systems worth $80,560,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Teton Advisors Inc. increased its stake in shares of Casella Waste Systems by 0.4% in the fourth quarter. Teton Advisors Inc. now owns 598,428 shares of the industrial products company’s stock worth $17,049,000 after buying an additional 2,600 shares during the last quarter. Suffolk Capital Management LLC acquired a new position in Casella Waste Systems in the fourth quarter worth $389,000. Marshall Wace North America L.P. acquired a new position in Casella Waste Systems in the third quarter worth $689,000. Meeder Asset Management Inc. boosted its holdings in Casella Waste Systems by 218.8% in the fourth quarter. Meeder Asset Management Inc. now owns 3,864 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 2,652 shares during the period. Finally, Standard Life Aberdeen plc boosted its holdings in Casella Waste Systems by 5.3% in the third quarter. Standard Life Aberdeen plc now owns 2,210,330 shares of the industrial products company’s stock worth $68,653,000 after purchasing an additional 110,881 shares during the period. Institutional investors and hedge funds own 79.43% of the company’s stock.
CWST has been the subject of several analyst reports. Zacks Investment Research raised shares of Casella Waste Systems from a “strong sell” rating to a “hold” rating in a report on Monday, April 1st. BidaskClub downgraded shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. UBS Group upped their price objective on shares of Casella Waste Systems from $31.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. KeyCorp initiated coverage on shares of Casella Waste Systems in a report on Monday, February 4th. They issued a “sector weight” rating for the company. Finally, Stifel Nicolaus cut shares of Casella Waste Systems from a “buy” rating to a “hold” rating and set a $35.00 price target on the stock. in a research report on Friday, February 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $35.50.
Shares of NASDAQ CWST traded up $0.67 during trading hours on Monday, hitting $33.45. The stock had a trading volume of 172,000 shares, compared to its average volume of 302,440. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 54.84 and a beta of 0.95. Casella Waste Systems Inc. has a 52 week low of $23.38 and a 52 week high of $36.95.
Casella Waste Systems (NASDAQ:CWST) last announced its earnings results on Thursday, February 21st. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The company had revenue of $174.72 million for the quarter, compared to the consensus estimate of $172.12 million. Casella Waste Systems had a negative return on equity of 114.82% and a net margin of 0.97%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 EPS. Analysts predict that Casella Waste Systems Inc. will post 0.82 EPS for the current fiscal year.
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About Casella Waste Systems
Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the northeastern United States. The company operates through Eastern, Western, Recycling, and Other segments. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, and industrial customers.
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