Granahan Investment Management LLC lessened its holdings in Casella Waste Systems, Inc. (NASDAQ:CWST – Free Report) by 2.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 250,262 shares of the industrial products company’s stock after selling 7,453 shares during the quarter. Granahan Investment Management LLC owned about 0.39% of Casella Waste Systems worth $19,856,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in CWST. Vanguard Group Inc. raised its stake in Casella Waste Systems by 9.7% during 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 during 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 worth $18,314,000 after acquiring an additional 82,616 shares during the last quarter. Riverbridge Partners LLC purchased a new stake in shares of Casella Waste Systems in the first quarter worth $13,742,000. SG Americas Securities LLC increased its holdings in shares of Casella Waste Systems by 103.4% during 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 acquiring an additional 12,334 shares in the last quarter. Finally, Yousif Capital Management LLC bought a new position in shares of Casella Waste Systems during the fourth quarter valued at $1,784,000. Institutional investors own 99.51% of the company’s stock.
Insider Buying and Selling
In other news, Director Michael K. Burke sold 2,305 shares of the firm’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 in the company, valued at $1,230,042.88. This trade represents a 14.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Edmond Coletta sold 12,500 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $89.56, for a total value of $1,119,500.00. Following the completion of the transaction, the chief executive officer owned 140,118 shares in the company, valued at approximately $12,548,968.08. This trade represents a 8.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.78% of the company’s stock.
Casella Waste Systems Stock Performance
Casella Waste Systems (NASDAQ:CWST – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.10. The firm had revenue of $457.33 million during the quarter, compared to analysts’ expectations of $454.49 million. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 earnings per share. As a group, analysts anticipate that Casella Waste Systems, Inc. will post 1.06 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Casella Waste Systems in a research note on Friday, May 22nd. Zacks Research upgraded shares of Casella Waste Systems from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 8th. TD Cowen reaffirmed a “buy” rating on shares of Casella Waste Systems in a report on Friday, June 5th. Barclays raised shares of Casella Waste Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $101.00 to $102.00 in a report on Monday, May 4th. Finally, UBS Group dropped their target price on shares of Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.12.
Read Our Latest Stock Report on CWST
Casella Waste Systems Company Profile
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.
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