On September 17, 2023, it was reported that B.O.S.S. Retirement Advisors LLC had reduced its position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 10.3% in the second quarter of the year. According to the filing with the Securities & Exchange Commission, the fund owned 15,467 shares of Casella Waste Systems’ stock after selling 1,769 shares during that period. The value of B.O.S.S. Retirement Advisors LLC’s holdings in Casella Waste Systems was approximately $1,399,000 at the end of the quarter.
Casella Waste Systems recently released its earnings results on July 28th. The company reported earnings per share (EPS) of $0.36 for the quarter, falling short of the consensus estimate by ($0.01). The firm generated revenue of $289.65 million during the period, compared to the consensus estimate of $301.93 million. Despite missing estimates slightly, Casella Waste Systems experienced a 2.1% increase in revenue year-over-year. Furthermore, it boasted a net margin of 3.58% and a return on equity of 9.08%. In the same quarter last year, Casella Waste Systems posted EPS of $0.36.
Various equities research analysts have provided their viewpoints on CWST shares recently as well. The Goldman Sachs Group initiated coverage on shares of Casella Waste Systems and assigned a “buy” rating along with a price target of $100.00 for the company in a research note published on Thursday.
Additionally, UBS Group raised their price target from $105.00 to $110.00 in another research note issued on Thursday, June 15th.
However, StockNews.com downgraded Casella Waste Systems’ rating from “hold” to “sell”. Finally, Raymond James lowered their price target from $104.00 to $100.00 but maintained a “strong-buy” rating on the stock.
Overall, the stock has received mixed ratings from analysts, with two giving it a sell rating, three considering it a buy, and one designating it as a strong buy. Bloomberg.com reports that the average rating for Casella Waste Systems is currently labeled as “Moderate Buy”, and analysts have set an average target price of $99.50.
It should be noted that this information was accurate as of September 17, 2023, based on the available data at that time. Investors should conduct their own analysis and consider future developments before making any investment decisions regarding Casella Waste Systems, Inc.
Casella Waste Systems, Inc. Attracts Attention from Institutional Investors and Reveals Insider Trades
Casella Waste Systems, Inc. (NASDAQ:CWST) has been attracting attention from several institutional investors who have recently adjusted their holdings in the company. First Hawaiian Bank, for instance, acquired a new stake in Casella Waste Systems during the second quarter of 2023, amounting to approximately $529,000. Meanwhile, Putnam Investments LLC increased its position in the industrial products company by 3.7% during the first quarter and now owns 413,394 shares valued at $34,171,000 after acquiring an additional 14,637 shares.
Ameriprise Financial Inc. also saw significant growth in its stake in Casella Waste Systems during the first quarter, with a 110.2% increase. As a result, Ameriprise Financial now owns 1,266,848 shares worth $104,718,000 after acquiring an additional 664,068 shares during that period. JPMorgan Chase & Co. raised its stake by 3.7% in the first quarter as well and now holds 2,494,745 shares worth $206,2160 accordingly.
Lastly but not leastly (as ambiguously stated), Mercer Global Advisors Inc. ADV elevated its stake by 38.5% during the same period and currently owns 3,523 shares valued at $291,000 after purchasing an additional 979 shares.
Based on these transactions by various institutional investors , it is apparent that there is notable interest and confidence in Casella Waste Systems among professionals within the financial industry.
In another development related to Casella Waste Systems’ stock moves behind closed doors Chief Financial Officer Edmond Coletta sold a total of 10 thousand company’s shares on Wednesday August 23rd this year for a sum totaling to USD816600 as per filing with Securities & Exchange Commission (SEC). After completing this transaction Mr Edmond Coletta was left with one hundred fifty-six thousand four hundred twenty-four shares in the company, totaling to USD12773583 approximately. The SEC disclosure related to this event can be found by following a link shared with in these words.
Seeking further insight behind the curtains of executive dealings CEO John W. Casella sold 724 shares of the company’s stock on Thursday August 3rd this year. These shares were disposed at an average price of $80.69 each, generating a total transaction value of $58,419.56 overall. Following the completion of this sale, Mr John W. Casella’s position as the chief executive officer was downsized by to eleven thousand two hundred ninety-nine shares Purdue Pharma worth about $911716.
It should be noted that over recent quarter, there has been a total number of eighteen thousand four hundred thirty-seven insider transactions occurred (to be clear we are talking August 23rd here) summing up value-wise to about $1 million five hundred eighty-eight thousand four hundred eighty-three – those are US dollars.
Casella Waste Systems’ stock currently trades at $83.36 on NASDAQ under ticker CWST as it commences trading for another session today i.e., September 17th, 2023 designated Sunday.
Given Casella Waste Systems’ consistent presence within both excellent and undesirable markets across long haul from its best level over past year marked at $95.78 in contrast to lowest offset yet observed reaching as low as $70.07 during last twelve months alongside ready liquidity due to quick ratio proving solid based on levels reported at around 2 times current assets covering liabilities spread round to span diverse timeframe respectively giving quantitative AND qualitative insights; there remains potential upside despite challenges like debt-to-equity ratio stipulating addition support concerning commitment via strong position on balance sheet currently registered above customary thresholds signifying stability just under parity rate while beta test figure rendered below unity level an advantage providing multiple layers of cushion to investor interest and this restraint approach isn’t over yet; as evident measures confirm highly volatile sentiment presiding.
It is worth mentioning that Casella Waste Systems boasts a market capitalization presently spotlighted at $4.83 billion on top of closely following average target for price-to-earnings ratio currently lopsided standing at 108.26, where the price-equity growth ratio is set at around 5 in relation to prospects ahead among industry peers whilst its shares tangoed with 50-day simple moving average value arrive closer towards $82 mark while journeying together alongside two-hundred day moivng average accompanied by constancy valued near the border of precise amount not exceeding $85 vicinity.