Casella Waste Systems (NASDAQ:CWST) Posts Earnings Results, Beats Expectations By $0.04 EPS

Casella Waste Systems (NASDAQ:CWST) announced its quarterly earnings results on Thursday. The industrial products company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04, FiscalAI reports. Casella Waste Systems had a return on equity of 5.19% and a net margin of 0.38%.The company had revenue of $543.75 million during the quarter, compared to analyst estimates of $526.43 million.

Casella Waste Systems Trading Up 0.5%

Shares of NASDAQ CWST traded up $0.42 during midday trading on Thursday, hitting $90.46. The company’s stock had a trading volume of 873,597 shares, compared to its average volume of 760,797. Casella Waste Systems has a 12-month low of $74.05 and a 12-month high of $107.96. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.72. The firm has a market cap of $5.75 billion, a P/E ratio of 822.44 and a beta of 0.74. The business’s 50 day moving average is $90.92 and its two-hundred day moving average is $90.64.

Insiders Place Their Bets

In other 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 directly owned 140,118 shares in the company, 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 can be accessed through this link. Also, Director Michael K. Burke sold 2,305 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total transaction of $201,825.80. Following the sale, the director directly owned 14,048 shares of the company’s stock, valued at $1,230,042.88. This represents a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.78% of the company’s stock.

Hedge Funds Weigh In On Casella Waste Systems

A number of institutional investors have recently modified their holdings of CWST. Los Angeles Capital Management LLC bought a new stake in shares of Casella Waste Systems during the fourth quarter valued at approximately $27,000. Geneos Wealth Management Inc. grew its stake in Casella Waste Systems by 301.6% in the first quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 184 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Casella Waste Systems by 235.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 200 shares during the period. Smartleaf Asset Management LLC raised its position in Casella Waste Systems by 75.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 521 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 224 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Casella Waste Systems by 173.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 593 shares of the industrial products company’s stock worth $56,000 after buying an additional 376 shares during the period. 99.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays upgraded shares of Casella Waste Systems from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $101.00 to $102.00 in a research report on Monday, May 4th. TD Cowen restated a “buy” rating on shares of Casella Waste Systems in a report on Friday, June 5th. UBS Group decreased their target price on shares of Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Zacks Research raised Casella Waste Systems from a “strong sell” rating to a “hold” rating in a research note 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently 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.