Sandia Investment Management LP Sells 2,500 Shares of Casella Waste Systems, Inc. (NASDAQ:CWST)

Sandia Investment Management LP lessened its stake in Casella Waste Systems, Inc. (NASDAQ:CWST) by 50.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,500 shares of the industrial products company’s stock after selling 2,500 shares during the period. Sandia Investment Management LP’s holdings in Casella Waste Systems were worth $265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Casella Waste Systems by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 6,110,529 shares of the industrial products company’s stock valued at $646,555,000 after purchasing an additional 123,001 shares during the period. Wasatch Advisors LP increased its holdings in Casella Waste Systems by 48.2% during the 4th quarter. Wasatch Advisors LP now owns 2,577,308 shares of the industrial products company’s stock valued at $272,705,000 after purchasing an additional 838,086 shares during the period. Invesco Ltd. increased its holdings in Casella Waste Systems by 0.8% during the 4th quarter. Invesco Ltd. now owns 1,830,220 shares of the industrial products company’s stock valued at $193,656,000 after purchasing an additional 13,678 shares during the period. Wellington Management Group LLP increased its holdings in Casella Waste Systems by 13.1% during the 4th quarter. Wellington Management Group LLP now owns 1,644,476 shares of the industrial products company’s stock valued at $174,002,000 after purchasing an additional 190,023 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Casella Waste Systems by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 1,446,875 shares of the industrial products company’s stock valued at $153,129,000 after purchasing an additional 15,917 shares during the period. Institutional investors own 99.51% of the company’s stock.

Casella Waste Systems Price Performance

Shares of Casella Waste Systems stock opened at $114.52 on Friday. Casella Waste Systems, Inc. has a one year low of $91.01 and a one year high of $121.24. The stock’s fifty day moving average is $113.11 and its 200 day moving average is $110.14. The stock has a market cap of $7.27 billion, a P/E ratio of 497.91, a P/E/G ratio of 3.86 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.48 and a current ratio of 2.00.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. Casella Waste Systems had a net margin of 0.87% and a return on equity of 4.15%. The company had revenue of $417.10 million for the quarter, compared to the consensus estimate of $403.64 million. During the same period in the previous year, the firm posted $0.15 EPS. Casella Waste Systems’s revenue for the quarter was up 22.3% compared to the same quarter last year. Sell-side analysts anticipate that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CWST. Stifel Nicolaus boosted their price target on Casella Waste Systems from $127.00 to $129.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Raymond James reiterated a “strong-buy” rating on shares of Casella Waste Systems in a report on Wednesday, April 16th. TD Cowen started coverage on Casella Waste Systems in a report on Wednesday, April 9th. They set a “buy” rating and a $130.00 target price on the stock. Jefferies Financial Group downgraded Casella Waste Systems from a “buy” rating to a “hold” rating and reduced their target price for the stock from $115.00 to $113.00 in a report on Thursday, January 23rd. Finally, William Blair restated an “outperform” rating on shares of Casella Waste Systems in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.67.

Insiders Place Their Bets

In related news, President Edmond Coletta sold 5,562 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $662,879.16. Following the completion of the transaction, the president now directly owns 150,093 shares in the company, valued at $17,888,083.74. The trade was a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Paul Ligon sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $118.67, for a total transaction of $237,340.00. Following the completion of the transaction, the senior vice president now owns 20,347 shares of the company’s stock, valued at approximately $2,414,578.49. This trade represents a 8.95% decrease in their position. The disclosure for this sale can be found here. 4.24% of the stock is owned by insiders.

Casella Waste Systems Company Profile

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.