PNC Financial Services Group Inc. boosted its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST – Free Report) by 8.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 13,035 shares of the industrial products company’s stock after acquiring an additional 978 shares during the period. PNC Financial Services Group Inc.’s holdings in Casella Waste Systems were worth $995,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in CWST. Bank of New York Mellon Corp raised its position in Casella Waste Systems by 7.2% during the first quarter. Bank of New York Mellon Corp now owns 238,043 shares of the industrial products company’s stock worth $20,865,000 after acquiring an additional 16,077 shares during the period. Private Advisor Group LLC acquired a new position in Casella Waste Systems during the first quarter worth $244,000. MetLife Investment Management LLC raised its position in Casella Waste Systems by 54.9% during the first quarter. MetLife Investment Management LLC now owns 25,964 shares of the industrial products company’s stock worth $2,276,000 after acquiring an additional 9,202 shares during the period. Synovus Financial Corp raised its position in Casella Waste Systems by 4.3% during the first quarter. Synovus Financial Corp now owns 11,014 shares of the industrial products company’s stock worth $962,000 after acquiring an additional 456 shares during the period. Finally, Blair William & Co. IL acquired a new stake in shares of Casella Waste Systems in the first quarter valued at about $453,000. 95.28% of the stock is currently owned by institutional investors and hedge funds.
Casella Waste Systems Trading Up 1.2 %
Shares of CWST opened at $92.36 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.56 and a debt-to-equity ratio of 0.99. Casella Waste Systems, Inc. has a 12-month low of $72.97 and a 12-month high of $95.78. The firm has a 50-day moving average price of $86.48 and a 200 day moving average price of $82.04. The firm has a market capitalization of $5.36 billion, a P/E ratio of 205.25, a P/E/G ratio of 6.01 and a beta of 0.91.
Casella Waste Systems (NASDAQ:CWST – Get Free Report) last announced its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Casella Waste Systems had a net margin of 2.01% and a return on equity of 5.81%. The firm had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $360.08 million. During the same period in the prior year, the company posted $0.18 EPS. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. Sell-side analysts forecast that Casella Waste Systems, Inc. will post 0.77 EPS for the current year.
Analyst Upgrades and Downgrades
CWST has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on shares of Casella Waste Systems from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. StockNews.com upgraded shares of Casella Waste Systems from a “sell” rating to a “hold” rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $99.71.
View Our Latest Stock Analysis on CWST
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. 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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Source: americanbankingnews.com
