Casella Waste Systems, Inc. (NASDAQ:CWST) Shares Sold by abrdn plc

abrdn plc cut its position in Casella Waste Systems, Inc. (NASDAQ:CWST) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 296,513 shares of the industrial products company’s stock after selling 46,436 shares during the period. abrdn plc owned approximately 0.51% of Casella Waste Systems worth $25,340,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Impax Asset Management Group plc purchased a new stake in shares of Casella Waste Systems in the fourth quarter worth about $5,128,000. TimesSquare Capital Management LLC boosted its stake in shares of Casella Waste Systems by 18.5% in the third quarter. TimesSquare Capital Management LLC now owns 946,497 shares of the industrial products company’s stock worth $72,218,000 after buying an additional 147,805 shares during the last quarter. WCM Investment Management LLC boosted its stake in shares of Casella Waste Systems by 8.7% in the fourth quarter. WCM Investment Management LLC now owns 227,195 shares of the industrial products company’s stock worth $19,543,000 after buying an additional 18,216 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Casella Waste Systems in the third quarter worth about $1,705,000. Finally, Comerica Bank boosted its stake in shares of Casella Waste Systems by 911.9% in the third quarter. Comerica Bank now owns 228,737 shares of the industrial products company’s stock worth $17,453,000 after buying an additional 206,133 shares during the last quarter. 99.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, President Edmond Coletta sold 733 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $94.31, for a total value of $69,129.23. Following the transaction, the president now owns 170,486 shares in the company, valued at $16,078,534.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, President Edmond Coletta sold 733 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $94.31, for a total value of $69,129.23. Following the transaction, the president now owns 170,486 shares in the company, valued at $16,078,534.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John W. Casella sold 1,673 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $94.13, for a total value of $157,479.49. Following the completion of the sale, the chief executive officer now directly owns 35,189 shares of the company’s stock, valued at approximately $3,312,340.57. The disclosure for this sale can be found here. Insiders have sold a total of 11,238 shares of company stock worth $1,026,395 over the last quarter. 5.05% of the stock is currently owned by corporate insiders.

Casella Waste Systems Stock Performance

Shares of CWST stock opened at $95.43 on Wednesday. The company has a market capitalization of $5.53 billion, a P/E ratio of 212.07, a P/E/G ratio of 6.06 and a beta of 0.90. The business’s 50 day moving average is $94.31 and its two-hundred day moving average is $86.59. The company has a current ratio of 1.53, a quick ratio of 1.46 and a debt-to-equity ratio of 0.99. Casella Waste Systems, Inc. has a 12-month low of $72.97 and a 12-month high of $100.29.

Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Friday, February 16th. The industrial products company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.03). The firm had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $360.08 million. Casella Waste Systems had a net margin of 2.01% and a return on equity of 5.81%. The business’s revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 EPS. Analysts expect that Casella Waste Systems, Inc. will post 0.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company upped their target price on Casella Waste Systems from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. StockNews.com upgraded Casella Waste Systems from a “sell” rating to a “hold” rating in a research report on Friday, February 16th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Casella Waste Systems presently has a consensus rating of “Buy” and a consensus price target of $99.71.

About Casella Waste Systems

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the 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.