Envestnet Asset Management Inc. Has $31.44 Million Holdings in Casella Waste Systems, Inc. (NASDAQ:CWST)

Envestnet Asset Management Inc. grew its stake in Casella Waste Systems, Inc. (NASDAQ:CWST) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 316,833 shares of the industrial products company’s stock after buying an additional 4,504 shares during the quarter. Envestnet Asset Management Inc. owned 0.55% of Casella Waste Systems worth $31,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CWST. Private Advisor Group LLC acquired a new position in shares of Casella Waste Systems in the fourth quarter valued at approximately $232,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Casella Waste Systems in the fourth quarter valued at approximately $267,000. Principal Financial Group Inc. boosted its holdings in shares of Casella Waste Systems by 10.7% in the fourth quarter. Principal Financial Group Inc. now owns 6,533 shares of the industrial products company’s stock valued at $558,000 after buying an additional 632 shares during the period. Norges Bank acquired a new position in Casella Waste Systems during the fourth quarter worth $25,106,000. Finally, Corient Private Wealth LLC grew its position in Casella Waste Systems by 91.3% in the fourth quarter. Corient Private Wealth LLC now owns 16,904 shares of the industrial products company’s stock valued at $1,445,000 after purchasing an additional 8,066 shares in the last quarter. Institutional investors and hedge funds own 99.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Stifel Nicolaus reissued 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. Raymond James upped their target price on Casella Waste Systems from $121.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday. Two investment 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. According to data from MarketBeat.com, Casella Waste Systems presently has an average rating of “Moderate Buy” and a consensus price target of $108.20.

Casella Waste Systems Stock Down 1.4 %

Casella Waste Systems stock opened at $99.83 on Friday. Casella Waste Systems, Inc. has a fifty-two week low of $72.97 and a fifty-two week high of $109.08. The firm has a market capitalization of $5.79 billion, a PE ratio of 322.03, a P/E/G ratio of 9.08 and a beta of 0.99. The company’s 50-day moving average is $104.86 and its 200-day moving average is $99.41. 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 (NASDAQ:CWST) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $373.87 million. During the same quarter in the prior year, the company earned $0.36 EPS. Casella Waste Systems’s quarterly revenue was up 30.2% on a year-over-year basis. Sell-side analysts anticipate that Casella Waste Systems, Inc. will post 0.57 earnings per share for the current 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.