UBS Asset Management Americas Inc. reduced its position in Casella Waste Systems, Inc. (NASDAQ:CWST) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 287,601 shares of the industrial products company’s stock after selling 10,633 shares during the period. UBS Asset Management Americas Inc.’s holdings in Casella Waste Systems were worth $17,817,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Casella Waste Systems by 78.5% in the first quarter. FMR LLC now owns 12,309 shares of the industrial products company’s stock valued at $438,000 after purchasing an additional 5,415 shares during the period. First Trust Advisors LP boosted its position in shares of Casella Waste Systems by 1.1% during the first quarter. First Trust Advisors LP now owns 125,600 shares of the industrial products company’s stock worth $4,466,000 after buying an additional 1,365 shares during the period. LPL Financial LLC boosted its position in shares of Casella Waste Systems by 9.1% during the third quarter. LPL Financial LLC now owns 5,756 shares of the industrial products company’s stock worth $321,000 after buying an additional 482 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Casella Waste Systems during the third quarter worth approximately $458,000. Finally, Morgan Stanley lifted its position in Casella Waste Systems by 9.2% in the third quarter. Morgan Stanley now owns 48,732 shares of the industrial products company’s stock worth $2,722,000 after purchasing an additional 4,090 shares during the period. 89.69% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Douglas R. Casella sold 1,526 shares of the stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $64.49, for a total value of $98,411.74. Also, COO Edwin D. Johnson sold 2,786 shares of the stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $64.49, for a total transaction of $179,669.14. In the last quarter, insiders sold 66,105 shares of company stock valued at $3,997,304. 7.71% of the stock is owned by corporate insiders.
Shares of NASDAQ:CWST opened at $67.10 on Wednesday. The company’s fifty day moving average is $63.36 and its two-hundred day moving average is $60.10. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of 3.59. Casella Waste Systems, Inc. has a 12-month low of $41.55 and a 12-month high of $67.80. The company has a market cap of $3.43 billion, a P/E ratio of 87.14 and a beta of 0.93.
Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Wednesday, February 17th. The industrial products company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.03. Casella Waste Systems had a net margin of 4.85% and a return on equity of 33.65%. The business had revenue of $200.24 million for the quarter, compared to the consensus estimate of $196.95 million. Equities research analysts anticipate that Casella Waste Systems, Inc. will post 0.83 earnings per share for the current year.
CWST has been the subject of a number of recent research reports. Raymond James increased their price objective on Casella Waste Systems from $69.00 to $76.00 and gave the company a “strong-buy” rating in a research report on Monday. Bank of America initiated coverage on Casella Waste Systems in a research report on Monday, December 21st. They set a “neutral” rating and a $69.00 price objective for the company. Finally, Zacks Investment Research upgraded Casella Waste Systems from a “strong sell” rating to a “hold” rating in a research report on Monday, March 15th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $68.33.
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. 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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