Conestoga Capital Advisors LLC grew its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 18.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,422,589 shares of the industrial products company’s stock after purchasing an additional 376,094 shares during the quarter. Casella Waste Systems makes up approximately 2.7% of Conestoga Capital Advisors LLC’s holdings, making the stock its 10th biggest position. Conestoga Capital Advisors LLC owned about 5.01% of Casella Waste Systems worth $135,302,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC lifted its position in Casella Waste Systems by 102.8% in the third quarter. Harbor Investment Advisory LLC now owns 576 shares of the industrial products company’s stock worth $32,000 after buying an additional 292 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Casella Waste Systems by 203.7% in the third quarter. Nisa Investment Advisors LLC now owns 1,640 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 1,100 shares during the period. Raymond James Trust N.A. purchased a new stake in Casella Waste Systems in the third quarter worth $251,000. Envestnet Asset Management Inc. increased its stake in Casella Waste Systems by 7.6% in the third quarter. Envestnet Asset Management Inc. now owns 49,813 shares of the industrial products company’s stock worth $2,782,000 after purchasing an additional 3,525 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Casella Waste Systems in the third quarter worth $319,000. 93.59% of the stock is owned by institutional investors.
NASDAQ:CWST traded down $0.35 during mid-day trading on Monday, reaching $57.87. 447 shares of the stock were exchanged, compared to its average volume of 315,490. The company has a 50 day simple moving average of $56.87 and a 200-day simple moving average of $52.38. The stock has a market capitalization of $2.82 billion, a P/E ratio of 80.86 and a beta of 0.93. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 4.04. Casella Waste Systems, Inc. has a 1 year low of $34.35 and a 1 year high of $61.77.
Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings data on Monday, August 3rd. The industrial products company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.21. Casella Waste Systems had a return on equity of 36.07% and a net margin of 4.52%. The company had revenue of $188.80 million during the quarter, compared to analysts’ expectations of $183.16 million. During the same period last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, research analysts predict that Casella Waste Systems, Inc. will post 0.65 EPS for the current year.
A number of analysts have weighed in on CWST shares. Berenberg Bank started coverage on Casella Waste Systems in a research note on Thursday, October 15th. They issued a “buy” rating and a $73.00 target price on the stock. BidaskClub lowered Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research upgraded Casella Waste Systems from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Tuesday, October 20th. Stifel Nicolaus upgraded Casella Waste Systems from a “hold” rating to a “buy” rating and lifted their target price for the company from $52.00 to $60.00 in a research note on Thursday, September 24th. Finally, TheStreet raised Casella Waste Systems from a “c+” rating to a “b” rating in a report on Tuesday, August 4th. Two investment 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 stock. The company currently has an average rating of “Buy” and an average price target of $63.17.
In other Casella Waste Systems news, Director James F. Callahan, Jr. sold 10,000 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $55.52, for a total transaction of $555,200.00. Following the completion of the sale, the director now directly owns 40,204 shares of the company’s stock, valued at approximately $2,232,126.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Oconnor sold 7,390 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $56.35, for a total value of $416,426.50. Following the sale, the director now directly owns 17,141 shares of the company’s stock, valued at $965,895.35. The disclosure for this sale can be found here. Insiders have sold a total of 22,390 shares of company stock valued at $1,247,727 over the last ninety days. 7.71% of the stock is owned by insiders.
Casella Waste Systems Profile
Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically-integrated solid waste services company in the northeastern United States. The company operates through Eastern Region, Western Region, Recycling, and Other segments. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, and industrial customers.
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