Driehaus Capital Management LLC Invests $9.74 Million in Casella Waste Systems, Inc. (NASDAQ:CWST)

Driehaus Capital Management LLC acquired a new position in shares of Casella Waste Systems, Inc. (NASDAQ:CWSTGet Rating) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 134,067 shares of the industrial products company’s stock, valued at approximately $9,744,000. Driehaus Capital Management LLC owned 0.26% of Casella Waste Systems as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CWST. William Blair Investment Management LLC boosted its holdings in shares of Casella Waste Systems by 232.6% during the first quarter. William Blair Investment Management LLC now owns 2,074,017 shares of the industrial products company’s stock worth $181,788,000 after acquiring an additional 1,450,370 shares during the period. JPMorgan Chase & Co. raised its position in shares of Casella Waste Systems by 18.2% in the second quarter. JPMorgan Chase & Co. now owns 2,693,269 shares of the industrial products company’s stock valued at $195,747,000 after buying an additional 414,539 shares in the last quarter. Sei Investments Co. raised its position in shares of Casella Waste Systems by 561.2% in the second quarter. Sei Investments Co. now owns 432,016 shares of the industrial products company’s stock valued at $31,399,000 after buying an additional 366,675 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Casella Waste Systems by 269.6% in the first quarter. Wellington Management Group LLP now owns 483,413 shares of the industrial products company’s stock valued at $42,372,000 after buying an additional 352,620 shares in the last quarter. Finally, Brown Advisory Inc. acquired a new stake in shares of Casella Waste Systems in the second quarter valued at approximately $18,877,000. Institutional investors own 96.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CWST shares. Raymond James lifted their price target on shares of Casella Waste Systems from $88.00 to $92.00 and gave the company a “strong-buy” rating in a research report on Monday, October 31st. StockNews.com upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating in a research report on Saturday, December 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $95.00 price target on shares of Casella Waste Systems in a research report on Tuesday, October 25th.

Casella Waste Systems Stock Up 1.0 %

Shares of CWST opened at $83.55 on Friday. Casella Waste Systems, Inc. has a one year low of $63.90 and a one year high of $92.75. The company has a market cap of $4.32 billion, a P/E ratio of 80.34, a P/E/G ratio of 3.50 and a beta of 0.94. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.18 and a quick ratio of 1.09. The firm has a 50 day simple moving average of $80.01 and a two-hundred day simple moving average of $78.06.

Casella Waste Systems (NASDAQ:CWSTGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The industrial products company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.38 by $0.07. Casella Waste Systems had a net margin of 5.10% and a return on equity of 12.97%. The business had revenue of $295.27 million during the quarter, compared to the consensus estimate of $270.48 million. During the same period in the previous year, the business earned $0.34 earnings per share. The company’s revenue was up 22.0% on a year-over-year basis. Research analysts forecast that Casella Waste Systems, Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at Casella Waste Systems

In other Casella Waste Systems news, CEO John W. Casella sold 19,385 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $81.66, for a total transaction of $1,582,979.10. Following the completion of the transaction, the chief executive officer now directly owns 11,601 shares in the company, valued at $947,337.66. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO John W. Casella sold 19,385 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $81.66, for a total transaction of $1,582,979.10. Following the completion of the transaction, the chief executive officer now directly owns 11,601 shares in the company, valued at $947,337.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas R. Casella sold 26,947 shares of the company’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $80.93, for a total transaction of $2,180,820.71. Following the transaction, the director now owns 181,826 shares of the company’s stock, valued at $14,715,178.18. The disclosure for this sale can be found here. Insiders sold a total of 69,385 shares of company stock worth $5,632,245 over the last three months. Corporate insiders own 5.05% of the company’s stock.

Casella Waste Systems Company Profile

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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, institutional, and industrial customers.

Further Reading

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Institutional Ownership by Quarter for Casella Waste Systems (NASDAQ:CWST)

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