PNC Financial Services Group Inc. Grows Stock Position in Casella Waste Systems, Inc. (NASDAQ:CWST)

PNC Financial Services Group Inc. boosted its position in Casella Waste Systems, Inc. (NASDAQ:CWST) by 7.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,661 shares of the industrial products company’s stock after buying an additional 695 shares during the period. PNC Financial Services Group Inc.’s holdings in Casella Waste Systems were worth $961,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its stake in shares of Casella Waste Systems by 108.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 66,129 shares of the industrial products company’s stock worth $6,579,000 after acquiring an additional 34,340 shares during the period. Williams Financial LLC purchased a new stake in Casella Waste Systems in the 2nd quarter valued at approximately $2,427,000. Millennium Management LLC increased its position in Casella Waste Systems by 667.9% during the 2nd quarter. Millennium Management LLC now owns 48,231 shares of the industrial products company’s stock worth $4,785,000 after purchasing an additional 41,950 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Casella Waste Systems by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,463 shares of the industrial products company’s stock worth $85,476,000 after buying an additional 26,189 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in shares of Casella Waste Systems in the 3rd quarter valued at approximately $562,000. 99.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CWST has been the topic of a number of recent analyst reports. Raymond James upped their price target on shares of Casella Waste Systems from $121.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Casella Waste Systems from $114.00 to $107.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Stifel Nicolaus reiterated a “buy” rating and set a $117.00 price target (up from $110.00) on shares of Casella Waste Systems in a research report on Monday, August 5th. Finally, William Blair assumed coverage on Casella Waste Systems in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Casella Waste Systems has a consensus rating of “Moderate Buy” and an average target price of $111.50.

Casella Waste Systems Trading Up 0.7 %

Shares of CWST opened at $112.28 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.55 and a quick ratio of 2.48. Casella Waste Systems, Inc. has a 1-year low of $79.16 and a 1-year high of $114.56. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of 935.67, a price-to-earnings-growth ratio of 6.69 and a beta of 0.99. The firm has a 50 day simple moving average of $103.41 and a 200-day simple moving average of $102.40.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). Casella Waste Systems had a return on equity of 3.04% and a net margin of 0.46%. The company had revenue of $411.63 million for the quarter, compared to analysts’ expectations of $412.59 million. During the same period in the previous year, the business posted $0.35 EPS. The business’s quarterly revenue was up 16.7% on a year-over-year basis. Equities analysts forecast that Casella Waste Systems, Inc. will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling at Casella Waste Systems

In other Casella Waste Systems news, SVP Paul Ligon sold 1,730 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $106.81, for a total value of $184,781.30. Following the completion of the transaction, the senior vice president now directly owns 21,085 shares in the company, valued at approximately $2,252,088.85. The trade was a 7.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.24% of the stock is owned by insiders.

Casella Waste Systems 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.