Bank of New York Mellon Corp Grows Stake in Casella Waste Systems, Inc. (NASDAQ:CWST)

Bank of New York Mellon Corp grew its position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 6.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,731 shares of the industrial products company’s stock after purchasing an additional 14,698 shares during the period. Bank of New York Mellon Corp owned approximately 0.42% of Casella Waste Systems worth $24,084,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Casella Waste Systems by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 5,536,410 shares of the industrial products company’s stock valued at $547,385,000 after purchasing an additional 57,540 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in Casella Waste Systems by 7.7% in the first quarter. Conestoga Capital Advisors LLC now owns 3,284,975 shares of the industrial products company’s stock worth $324,785,000 after acquiring an additional 235,260 shares in the last quarter. Brown Advisory Inc. grew its position in Casella Waste Systems by 45.9% in the fourth quarter. Brown Advisory Inc. now owns 1,311,917 shares of the industrial products company’s stock worth $112,116,000 after acquiring an additional 412,812 shares in the last quarter. Geneva Capital Management LLC grew its position in Casella Waste Systems by 9.3% in the first quarter. Geneva Capital Management LLC now owns 1,062,203 shares of the industrial products company’s stock worth $105,020,000 after acquiring an additional 90,161 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Casella Waste Systems by 17.8% in the fourth 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. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CWST has been the subject of several research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $117.00 target price (up from $110.00) on shares of Casella Waste Systems in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Casella Waste Systems in a research report on Thursday, May 23rd. They issued a “hold” rating and a $106.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.80.

Casella Waste Systems Stock Performance

NASDAQ CWST opened at $105.24 on Thursday. The company has a 50-day simple moving average of $103.56 and a two-hundred day simple moving average of $98.40. The company has a quick ratio of 1.51, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. Casella Waste Systems, Inc. has a 12-month low of $72.97 and a 12-month high of $108.62. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 339.48, a PEG ratio of 9.36 and a beta of 0.98.

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 net margin of 1.35% and a return on equity of 3.83%. The business had revenue of $377.20 million for the quarter, compared to analysts’ expectations of $373.87 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. The business’s quarterly revenue was up 30.2% on a year-over-year basis. On average, equities analysts forecast that Casella Waste Systems, Inc. will post 0.57 EPS for the current year.

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.