Allspring Global Investments Holdings LLC Lowers Holdings in Casella Waste Systems, Inc. (NASDAQ:CWST)

Allspring Global Investments Holdings LLC reduced its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 37.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 877,884 shares of the industrial products company’s stock after selling 523,575 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Casella Waste Systems were worth $87,341,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Casella Waste Systems by 1.8% in the second quarter. Principal Financial Group Inc. now owns 7,730 shares of the industrial products company’s stock valued at $767,000 after purchasing an additional 135 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Casella Waste Systems by 76.4% in the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the industrial products company’s stock valued at $32,000 after buying an additional 139 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Casella Waste Systems by 1.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,286 shares of the industrial products company’s stock valued at $1,610,000 after buying an additional 160 shares during the last quarter. Harbor Investment Advisory LLC raised its stake in Casella Waste Systems by 38.1% during the 1st quarter. Harbor Investment Advisory LLC now owns 613 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 169 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Casella Waste Systems by 1.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,436 shares of the industrial products company’s stock valued at $1,035,000 after acquiring an additional 183 shares during the last quarter. 99.51% of the stock is currently owned by institutional investors and hedge funds.

Casella Waste Systems Price Performance

Casella Waste Systems stock opened at $104.07 on Monday. The business has a 50 day simple moving average of $103.31 and a 200-day simple moving average of $100.12. Casella Waste Systems, Inc. has a 12 month low of $72.97 and a 12 month high of $109.08. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.51. The stock has a market capitalization of $6.04 billion, a PE ratio of 335.71, a price-to-earnings-growth ratio of 7.90 and a beta of 0.99.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Raymond James lifted their target price 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. William Blair assumed coverage on shares of Casella Waste Systems in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $117.00 price target (up previously from $110.00) on shares of Casella Waste Systems in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Casella Waste Systems currently has an average rating of “Moderate Buy” and an average price target of $111.25.

Casella Waste Systems Company Profile

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.