Casella Waste Systems, Inc. $CWST Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 7.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 338,392 shares of the industrial products company’s stock after selling 26,005 shares during the period. Fifth Third Bancorp’s holdings in Casella Waste Systems were worth $27,190,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CWST. Illinois Municipal Retirement Fund bought a new position in Casella Waste Systems in the first quarter worth $2,658,000. Tidal Investments LLC boosted its holdings in shares of Casella Waste Systems by 4.9% during the 2nd quarter. Tidal Investments LLC now owns 232,710 shares of the industrial products company’s stock valued at $22,566,000 after buying an additional 10,828 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Casella Waste Systems by 387.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 17,856 shares of the industrial products company’s stock valued at $1,731,000 after buying an additional 14,190 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Casella Waste Systems in the 1st quarter worth about $2,257,000. Finally, Wellington Management Group LLP grew its position in shares of Casella Waste Systems by 6.6% in the 2nd quarter. Wellington Management Group LLP now owns 1,292,101 shares of the industrial products company’s stock worth $125,295,000 after buying an additional 80,299 shares during the period. 99.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Casella Waste Systems news, Director Michael Burke sold 1,100 shares of Casella Waste Systems stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $95.26, for a total value of $104,786.00. Following the completion of the sale, the director owned 13,641 shares of the company’s stock, valued at approximately $1,299,441.66. This trade represents a 7.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 2,395 shares of company stock worth $226,325. Company insiders own 3.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CWST shares. Raymond James Financial reiterated a “strong-buy” rating and issued a $106.00 price target on shares of Casella Waste Systems in a research note on Friday, October 9th. Barclays boosted their price objective on shares of Casella Waste Systems from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Casella Waste Systems from $91.00 to $99.00 and gave the stock a “neutral” rating in a report on Wednesday, October 21st. Weiss Ratings downgraded shares of Casella Waste Systems from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 30th. Finally, UBS Group lowered shares of Casella Waste Systems from a “buy” rating to a “neutral” rating and lowered their target price for the company from $122.00 to $95.00 in a report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $105.80.

Casella Waste Systems Trading Down 0.1%

Shares of NASDAQ CWST opened at $100.19 on Friday. The firm’s 50 day moving average price is $89.70 and its 200-day moving average price is $89.91. The company has a market cap of $6.38 billion, a PE ratio of -556.58 and a beta of 0.71. Casella Waste Systems, Inc. has a 52-week low of $74.05 and a 52-week high of $107.96. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.99 and a current ratio of 0.95.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Monday, November 9th. The industrial products company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.06). Casella Waste Systems had a negative net margin of 0.56% and a positive return on equity of 5.04%. The firm had revenue of $559.23 million for the quarter, compared to the consensus estimate of $563.17 million. During the same period last year, the business earned $0.42 EPS. Casella Waste Systems’s revenue was up 15.2% on a year-over-year basis. On average, equities research analysts expect that Casella Waste Systems, Inc. will post 1.23 EPS for the current fiscal year.

Casella Waste Systems Profile

Casella Waste Systems is a regional solid waste services company that provides collection, transfer, disposal, recycling and resource management services. Its customers include residential, commercial, municipal and industrial clients. The company operates primarily in the northeastern United States, with services across states including Vermont, New Hampshire, New York, Maine, Massachusetts, Connecticut and Pennsylvania. Its operations also include recycling and organics services designed to recover materials and manage waste.