Private Advisor Group LLC Grows Position in Casella Waste Systems, Inc. $CWST

Private Advisor Group LLC lifted its position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 443.3% during the first quarter, Holdings Channel.com reports. The firm owned 30,876 shares of the industrial products company’s stock after acquiring an additional 25,193 shares during the period. Private Advisor Group LLC’s holdings in Casella Waste Systems were worth $2,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. increased its holdings in shares of Casella Waste Systems by 301.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 184 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in Casella Waste Systems during the fourth quarter worth $25,000. Los Angeles Capital Management LLC acquired a new stake in Casella Waste Systems during the fourth quarter valued at $27,000. EverSource Wealth Advisors LLC grew its position in Casella Waste Systems by 235.3% during the second quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company’s stock valued at $33,000 after buying an additional 200 shares during the period. Finally, SHP Wealth Management purchased a new position in Casella Waste Systems in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 99.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CWST shares. UBS Group decreased their price objective on shares of Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Zacks Research lowered Casella Waste Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. TD Cowen reaffirmed a “buy” rating on shares of Casella Waste Systems in a report on Friday, June 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Casella Waste Systems in a report on Friday, May 22nd. Finally, Barclays upgraded Casella Waste Systems from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $101.00 to $102.00 in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $110.12.

Casella Waste Systems Stock Performance

Shares of Casella Waste Systems stock opened at $95.37 on Friday. Casella Waste Systems, Inc. has a one year low of $74.05 and a one year high of $112.88. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 867.08 and a beta of 0.74. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.38 and a current ratio of 1.38. The business’s 50 day moving average price is $88.13 and its 200 day moving average price is $91.69.

Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.10. Casella Waste Systems had a return on equity of 5.19% and a net margin of 0.38%.The company had revenue of $457.33 million during the quarter, compared to analysts’ expectations of $454.49 million. During the same period in the prior year, the business earned $0.19 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts predict that Casella Waste Systems, Inc. will post 1.12 EPS for the current year.

Insider Activity

In related news, CEO Edmond Coletta sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total transaction of $1,119,500.00. Following the completion of the sale, the chief executive officer directly owned 140,118 shares in the company, valued at approximately $12,548,968.08. This trade represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael K. Burke sold 2,305 shares of Casella Waste Systems stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total transaction of $201,825.80. Following the transaction, the director directly owned 14,048 shares in the company, valued at $1,230,042.88. This trade represents a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.78% of the company’s stock.

About Casella Waste Systems

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.