Millennium Management LLC Raises Stock Holdings in Casella Waste Systems, Inc. (NASDAQ:CWST)

Millennium Management LLC raised its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 667.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,231 shares of the industrial products company’s stock after purchasing an additional 41,950 shares during the quarter. Millennium Management LLC’s holdings in Casella Waste Systems were worth $4,785,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CWST. Wasatch Advisors LP bought a new position in Casella Waste Systems in the 1st quarter worth about $91,317,000. Capital Research Global Investors increased its position in shares of Casella Waste Systems by 277.1% during the 1st quarter. Capital Research Global Investors now owns 723,405 shares of the industrial products company’s stock valued at $71,523,000 after purchasing an additional 531,573 shares during the last quarter. Wellington Management Group LLP increased its holdings in Casella Waste Systems by 17.8% in the 4th quarter. Wellington Management Group LLP now owns 983,826 shares of the industrial products company’s stock worth $84,078,000 after acquiring an additional 148,913 shares in the last quarter. F M Investments LLC purchased a new stake in Casella Waste Systems in the 2nd quarter worth approximately $11,093,000. Finally, Conestoga Capital Advisors LLC increased its holdings in Casella Waste Systems by 3.1% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 3,386,970 shares of the industrial products company’s stock worth $336,055,000 after acquiring an additional 101,995 shares in the last quarter. 99.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CWST. Stifel Nicolaus restated a “buy” rating and issued a $117.00 price target (up from $110.00) on shares of Casella Waste Systems in a research note on Monday, August 5th. William Blair started coverage on Casella Waste Systems in a research report on Thursday, October 3rd. They issued an “outperform” rating for the company. Finally, Raymond James raised their price target on Casella Waste Systems from $121.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Casella Waste Systems currently has a consensus rating of “Moderate Buy” and an average target price of $108.20.

Casella Waste Systems Price Performance

CWST opened at $101.01 on Friday. The business’s 50-day moving average is $103.15 and its two-hundred day moving average is $99.89. The firm has a market capitalization of $5.87 billion, a PE ratio of 306.09, a price-to-earnings-growth ratio of 7.90 and a beta of 0.99. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.51. Casella Waste Systems, Inc. has a 1 year low of $72.97 and a 1 year high of $109.08.

Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Thursday, August 1st. The industrial products company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.06). The company had revenue of $377.20 million for the quarter, compared to analysts’ expectations of $373.87 million. Casella Waste Systems had a return on equity of 3.83% and a net margin of 1.35%. The firm’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. Research analysts anticipate that Casella Waste Systems, Inc. will post 0.62 earnings per share for the current fiscal year.

About Casella Waste Systems

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.