SouthState Corp Lowers Stake in Casella Waste Systems, Inc. (NASDAQ:CWST)

SouthState Corp reduced its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 55.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 445 shares of the industrial products company’s stock after selling 555 shares during the period. SouthState Corp’s holdings in Casella Waste Systems were worth $47,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CWST. Wealth Enhancement Advisory Services LLC raised its holdings in Casella Waste Systems by 87.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 78,549 shares of the industrial products company’s stock worth $7,815,000 after buying an additional 36,573 shares during the last quarter. Geode Capital Management LLC raised its holdings in Casella Waste Systems by 8.3% in the third quarter. Geode Capital Management LLC now owns 1,430,958 shares of the industrial products company’s stock worth $142,393,000 after buying an additional 109,288 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in Casella Waste Systems by 21.8% in the third quarter. Loomis Sayles & Co. L P now owns 848,976 shares of the industrial products company’s stock worth $84,465,000 after buying an additional 151,744 shares during the last quarter. HBK Investments L P purchased a new position in Casella Waste Systems in the third quarter worth about $497,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Casella Waste Systems by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 607,954 shares of the industrial products company’s stock worth $64,328,000 after buying an additional 14,369 shares during the last quarter. 99.51% of the stock is owned by hedge funds and other institutional investors.

Casella Waste Systems Stock Performance

Shares of NASDAQ CWST opened at $107.53 on Wednesday. The firm has a 50 day moving average of $109.50 and a 200 day moving average of $106.67. The company has a current ratio of 2.00, a quick ratio of 2.48 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 467.52, a price-to-earnings-growth ratio of 3.86 and a beta of 1.05. Casella Waste Systems, Inc. has a 12-month low of $86.41 and a 12-month high of $116.31.

Casella Waste Systems (NASDAQ:CWST) last announced its earnings results on Wednesday, February 12th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.25. Casella Waste Systems had a net margin of 0.87% and a return on equity of 4.15%. On average, research analysts anticipate that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CWST shares. Jefferies Financial Group cut shares of Casella Waste Systems from a “buy” rating to a “hold” rating and decreased their price objective for the company from $115.00 to $113.00 in a report on Thursday, January 23rd. Stifel Nicolaus boosted their price objective on shares of Casella Waste Systems from $127.00 to $129.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, William Blair reissued an “outperform” rating on shares of Casella Waste Systems in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Casella Waste Systems has a consensus rating of “Moderate Buy” and an average target price of $117.75.

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.