Fred Alger Management LLC cut its position in Casella Waste Systems, Inc. (NASDAQ:CWST – Free Report) by 20.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 448,415 shares of the industrial products company’s stock after selling 113,435 shares during the quarter. Fred Alger Management LLC’s holdings in Casella Waste Systems were worth $43,918,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Casella Waste Systems by 9.7% in the fourth quarter. Vanguard Group Inc. now owns 6,574,893 shares of the industrial products company’s stock valued at $643,945,000 after buying an additional 581,310 shares in the last quarter. Aberdeen Group plc grew its stake in shares of Casella Waste Systems by 79.2% in the fourth quarter. Aberdeen Group plc now owns 186,992 shares of the industrial products company’s stock valued at $18,314,000 after buying an additional 82,616 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Casella Waste Systems by 6.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,647,907 shares of the industrial products company’s stock valued at $156,353,000 after buying an additional 95,600 shares in the last quarter. Yousif Capital Management LLC acquired a new stake in shares of Casella Waste Systems in the fourth quarter valued at $1,784,000. Finally, SG Americas Securities LLC grew its stake in shares of Casella Waste Systems by 103.4% in the fourth quarter. SG Americas Securities LLC now owns 24,268 shares of the industrial products company’s stock valued at $2,377,000 after buying an additional 12,334 shares in the last quarter. 99.51% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CWST has been the subject of a number of research reports. TD Cowen reaffirmed a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 5th. JPMorgan Chase & Co. dropped their price objective on Casella Waste Systems from $112.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Zacks Research cut Casella Waste Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Raymond James Financial reissued a “strong-buy” rating and set a $115.00 target price on shares of Casella Waste Systems in a research note on Monday, February 23rd. Finally, UBS Group lowered their target price on Casella Waste Systems from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $111.13.
Insider Buying and Selling at Casella Waste Systems
In related news, CEO Edmond Coletta sold 12,500 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $89.56, for a total transaction of $1,119,500.00. Following the completion of the transaction, the chief executive officer directly owned 140,118 shares of the company’s stock, valued at $12,548,968.08. The trade was a 8.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael K. Burke sold 2,305 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total value of $201,825.80. Following the transaction, the director directly owned 14,048 shares of the company’s stock, valued at $1,230,042.88. The trade was a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.78% of the company’s stock.
Casella Waste Systems Trading Down 1.6%
CWST opened at $86.65 on Wednesday. Casella Waste Systems, Inc. has a 12 month low of $74.05 and a 12 month high of $118.42. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 787.80 and a beta of 0.77. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 1.38. The business has a fifty day moving average price of $84.58 and a 200 day moving average price of $92.25.
Casella Waste Systems (NASDAQ:CWST – Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.10 by $0.10. Casella Waste Systems had a return on equity of 5.19% and a net margin of 0.38%.The firm had revenue of $457.33 million during the quarter, compared to analysts’ expectations of $454.49 million. During the same period in the previous year, the firm posted $0.19 EPS. Casella Waste Systems’s revenue for the quarter was up 9.6% on a year-over-year basis. Sell-side analysts expect that Casella Waste Systems, Inc. will post 1.12 earnings per share for the current fiscal year.
About Casella Waste Systems
Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.
Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.
Read More
- Five stocks we like better than Casella Waste Systems
- Gravity Check: Houston, SpaceX Has a Valuation Problem
- Strategy’s Bitcoin Rally Has a Hidden Engine
- Okta’s AI Moment May Be Bigger Than Investors Realize
- 3 Rate-Ready Stocks for the New Fed Chair’s First Big Test
Want to see what other hedge funds are holding CWST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Casella Waste Systems, Inc. (NASDAQ:CWST – Free Report).
Receive News & Ratings for Casella Waste Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Casella Waste Systems and related companies with MarketBeat.com's FREE daily email newsletter.
