Granite Investment Partners LLC Sells 9,038 Shares of Casella Waste Systems, Inc. $CWST

Granite Investment Partners LLC lowered its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 5.2% in the first quarter, Holdings Channel.com reports. The firm owned 163,583 shares of the industrial products company’s stock after selling 9,038 shares during the period. Granite Investment Partners LLC’s holdings in Casella Waste Systems were worth $12,979,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CWST. Hilton Head Capital Partners LLC purchased a new position in shares of Casella Waste Systems during the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. raised its position in Casella Waste Systems by 301.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock valued at $27,000 after buying an additional 184 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Casella Waste Systems in the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC raised its position in Casella Waste Systems by 41.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company’s stock valued at $33,000 after buying an additional 98 shares during the last quarter. Finally, SHP Wealth Management bought a new position in Casella Waste Systems during the 4th quarter valued at $43,000. Institutional investors own 99.51% of the company’s stock.

Casella Waste Systems Price Performance

CWST opened at $98.88 on Thursday. Casella Waste Systems, Inc. has a fifty-two week low of $74.05 and a fifty-two week high of $113.54. The firm has a 50-day moving average of $87.77 and a 200 day moving average of $91.71. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $6.29 billion, a P/E ratio of 898.99 and a beta of 0.74.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings data 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. The business had revenue of $457.33 million for the quarter, compared to analyst estimates of $454.49 million. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 earnings per share. On average, research analysts expect that Casella Waste Systems, Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

CWST has been the topic of a number of analyst reports. UBS Group cut their price objective on shares of Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating on the stock in a report on Friday, June 26th. Barclays upgraded shares of Casella Waste Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $101.00 to $102.00 in a report on Monday, May 4th. Weiss Ratings restated a “sell (d)” rating on shares of Casella Waste Systems in a report on Friday, May 22nd. TD Cowen reaffirmed a “buy” rating on shares of Casella Waste Systems in a research report on Friday, June 5th. Finally, Zacks Research downgraded shares of Casella Waste Systems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $110.12.

Insider Activity at Casella Waste Systems

In related news, CEO Edmond Coletta sold 12,500 shares of Casella Waste Systems stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total value of $1,119,500.00. Following the sale, the chief executive officer owned 140,118 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, Director Michael K. Burke sold 2,305 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total value of $201,825.80. Following the completion of the transaction, the director owned 14,048 shares in the company, valued at approximately $1,230,042.88. The trade was a 14.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.78% of the company’s stock.

Casella Waste Systems 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.