Casella Waste Systems, Inc. $CWST is Wasatch Advisors LP’s 4th Largest Position

Wasatch Advisors LP grew its position in Casella Waste Systems, Inc. (NASDAQ:CWST) by 36.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,531,594 shares of the industrial products company’s stock after acquiring an additional 949,374 shares during the quarter. Casella Waste Systems comprises approximately 2.2% of Wasatch Advisors LP’s portfolio, making the stock its 4th biggest position. Wasatch Advisors LP owned approximately 0.06% of Casella Waste Systems worth $342,459,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. increased its holdings in shares of 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 acquiring an additional 184 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in Casella Waste Systems in the 4th quarter valued at $25,000. Los Angeles Capital Management LLC acquired a new stake in Casella Waste Systems during the 4th quarter worth $27,000. EverSource Wealth Advisors LLC boosted its stake in Casella Waste Systems by 235.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 200 shares during the period. Finally, SHP Wealth Management acquired a new stake in Casella Waste Systems during the 4th quarter worth $43,000. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. UBS Group dropped 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 research note on Friday, June 26th. 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. Barclays raised their price target on Casella Waste Systems from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday. JPMorgan Chase & Co. dropped their price target on Casella Waste Systems from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, TD Cowen reaffirmed a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $109.75.

Insider Activity

In related news, Director Michael K. Burke sold 2,305 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total transaction of $201,825.80. Following the completion of the transaction, the director directly owned 14,048 shares of the company’s stock, valued at $1,230,042.88. This represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 dated Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total transaction of $1,119,500.00. Following the completion of 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 disclosure for this sale is available in the SEC filing. 3.78% of the stock is owned by insiders.

Casella Waste Systems Price Performance

Shares of NASDAQ CWST opened at $92.52 on Wednesday. The stock has a fifty day moving average price of $91.48 and a 200 day moving average price of $90.22. Casella Waste Systems, Inc. has a 1-year low of $74.05 and a 1-year high of $107.96. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.99 and a quick ratio of 1.38. The company has a market cap of $5.89 billion, a PE ratio of 1,028.11 and a beta of 0.74.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $543.75 million for the quarter, compared to analysts’ expectations of $526.43 million. Casella Waste Systems had a net margin of 0.29% and a return on equity of 5.32%. Casella Waste Systems’s revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. Sell-side analysts forecast that Casella Waste Systems, Inc. will post 1.11 EPS for the current 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.