Occudo Quantitative Strategies LP Takes $940,000 Position in Casella Waste Systems, Inc. (NASDAQ:CWST)

Occudo Quantitative Strategies LP purchased a new position in Casella Waste Systems, Inc. (NASDAQ:CWST) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,883 shares of the industrial products company’s stock, valued at approximately $940,000.

A number of other institutional investors also recently bought and sold shares of CWST. Vanguard Group Inc. increased its position in Casella Waste Systems by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 6,110,529 shares of the industrial products company’s stock valued at $646,555,000 after acquiring an additional 123,001 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of Casella Waste Systems by 48.2% during the 4th quarter. Wasatch Advisors LP now owns 2,577,308 shares of the industrial products company’s stock worth $272,705,000 after purchasing an additional 838,086 shares during the period. Invesco Ltd. grew its holdings in Casella Waste Systems by 0.8% during the 4th quarter. Invesco Ltd. now owns 1,830,220 shares of the industrial products company’s stock valued at $193,656,000 after purchasing an additional 13,678 shares during the last quarter. Wellington Management Group LLP raised its position in Casella Waste Systems by 13.1% in the 4th quarter. Wellington Management Group LLP now owns 1,644,476 shares of the industrial products company’s stock worth $174,002,000 after purchasing an additional 190,023 shares during the period. Finally, Geode Capital Management LLC raised its position in Casella Waste Systems by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 1,446,875 shares of the industrial products company’s stock worth $153,129,000 after purchasing an additional 15,917 shares during the period. 99.51% of the stock is currently owned by institutional investors.

Insider Activity at Casella Waste Systems

In related news, SVP Paul Ligon sold 2,000 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $118.67, for a total transaction of $237,340.00. Following the completion of the sale, the senior vice president now owns 20,347 shares of the company’s stock, valued at $2,414,578.49. This represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Edmond Coletta sold 5,562 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $662,879.16. Following the completion of the sale, the president now owns 150,093 shares of the company’s stock, valued at approximately $17,888,083.74. This trade represents a 3.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.24% of the stock is owned by corporate insiders.

Casella Waste Systems Trading Down 0.9%

CWST opened at $112.23 on Wednesday. The stock’s fifty day moving average is $112.92 and its two-hundred day moving average is $109.97. The company has a market capitalization of $7.11 billion, a P/E ratio of 487.96, a PEG ratio of 3.86 and a beta of 0.89. Casella Waste Systems, Inc. has a 52 week low of $91.01 and a 52 week high of $121.24. The company has a quick ratio of 2.48, a current ratio of 2.00 and a debt-to-equity ratio of 0.70.

Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.08. Casella Waste Systems had a net margin of 0.87% and a return on equity of 4.15%. The company had revenue of $417.10 million for the quarter, compared to analysts’ expectations of $403.64 million. During the same period in the prior year, the business earned $0.15 EPS. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. Analysts forecast that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CWST shares. William Blair restated an “outperform” rating on shares of Casella Waste Systems in a research report on Friday, February 14th. UBS Group boosted their price objective on Casella Waste Systems from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, April 11th. Raymond James reiterated a “strong-buy” rating on shares of Casella Waste Systems in a research note on Wednesday, April 16th. Jefferies Financial Group downgraded Casella Waste Systems from a “buy” rating to a “hold” rating and decreased their target price for the stock from $115.00 to $113.00 in a research report on Thursday, January 23rd. Finally, Stifel Nicolaus upped their price target on shares of Casella Waste Systems from $127.00 to $129.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Casella Waste Systems currently has an average rating of “Moderate Buy” and an average target price of $122.67.

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.