Harvey Partners LLC Acquires Shares of 130,325 Casella Waste Systems, Inc. $CWST

Harvey Partners LLC bought a new stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) in the 2nd quarter, HoldingsChannel reports. The fund bought 130,325 shares of the industrial products company’s stock, valued at approximately $15,037,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC increased its stake in shares of Casella Waste Systems by 12.9% in the first quarter. Intech Investment Management LLC now owns 25,994 shares of the industrial products company’s stock worth $2,899,000 after buying an additional 2,979 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Casella Waste Systems by 8.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,835 shares of the industrial products company’s stock worth $442,000 after acquiring an additional 289 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Casella Waste Systems in the second quarter valued at about $246,000. Harbor Capital Advisors Inc. raised its stake in shares of Casella Waste Systems by 6.2% during the second quarter. Harbor Capital Advisors Inc. now owns 67,800 shares of the industrial products company’s stock valued at $7,823,000 after acquiring an additional 3,942 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new position in shares of Casella Waste Systems during the second quarter valued at about $898,000. 99.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on CWST shares. The Goldman Sachs Group cut their target price on Casella Waste Systems from $125.00 to $111.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Loop Capital upgraded Casella Waste Systems from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Friday, September 19th. Stifel Nicolaus initiated coverage on Casella Waste Systems in a research note on Monday, September 29th. They set a “buy” rating and a $113.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on Casella Waste Systems in a research note on Thursday. They issued a “neutral” rating and a $112.00 price target for the company. Finally, UBS Group boosted their price objective on shares of Casella Waste Systems from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.56.

Casella Waste Systems Trading Up 0.1%

NASDAQ CWST opened at $99.05 on Friday. The firm has a market capitalization of $6.29 billion, a PE ratio of 412.73 and a beta of 0.80. The stock’s 50 day moving average is $91.29 and its 200 day moving average is $100.08. Casella Waste Systems, Inc. has a twelve month low of $82.22 and a twelve month high of $121.24. The company has a quick ratio of 1.43, a current ratio of 1.51 and a debt-to-equity ratio of 0.72.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.33 by $0.09. Casella Waste Systems had a return on equity of 5.63% and a net margin of 0.85%.The business had revenue of $485.35 million during the quarter, compared to analyst estimates of $477.24 million. During the same quarter last year, the firm posted $0.27 earnings per share. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. Research analysts forecast that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal 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.