Casella Waste Systems, Inc. $CWST Stake Cut by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in Casella Waste Systems, Inc. (NASDAQ:CWST) by 48.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,569 shares of the industrial products company’s stock after selling 10,054 shares during the quarter. State of Alaska Department of Revenue’s holdings in Casella Waste Systems were worth $849,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Casella Waste Systems during the 2nd quarter valued at about $29,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Casella Waste Systems in the second quarter valued at about $36,000. Versant Capital Management Inc grew its holdings in shares of Casella Waste Systems by 54.8% in the third quarter. Versant Capital Management Inc now owns 449 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 159 shares during the period. Hilton Head Capital Partners LLC increased its position in Casella Waste Systems by 86.5% during the first quarter. Hilton Head Capital Partners LLC now owns 468 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 217 shares during the last quarter. Finally, SHP Wealth Management acquired a new stake in Casella Waste Systems during the fourth quarter worth about $43,000. 99.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Casella Waste Systems

In related news, Director Michael K. Burke sold 1,100 shares of Casella Waste Systems stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $95.26, for a total value of $104,786.00. Following the completion of the sale, the director owned 13,641 shares in the company, valued at approximately $1,299,441.66. This trade represents a 7.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas R. Casella sold 15,157 shares of Casella Waste Systems stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $91.05, for a total value of $1,380,044.85. Following the completion of the sale, the director directly owned 91,484 shares of the company’s stock, valued at $8,329,618.20. The trade was a 14.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 18,700 shares of company stock worth $1,709,494 in the last ninety days. 3.78% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CWST has been the topic of a number of analyst reports. Weiss Ratings raised shares of Casella Waste Systems from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, October 16th. Zacks Research raised shares of Casella Waste Systems from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 8th. Barclays increased their price target on shares of Casella Waste Systems from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. JPMorgan Chase & Co. raised their price target on shares of Casella Waste Systems from $91.00 to $99.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, UBS Group lowered shares of Casella Waste Systems from a “buy” rating to a “neutral” rating and reduced their price target for the company from $122.00 to $95.00 in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.83.

Casella Waste Systems Stock Performance

Shares of Casella Waste Systems stock opened at $90.22 on Thursday. Casella Waste Systems, Inc. has a 52 week low of $74.05 and a 52 week high of $107.96. The business’s fifty day simple moving average is $88.43 and its 200-day simple moving average is $88.25. The firm has a market cap of $5.74 billion, a PE ratio of 1,002.56 and a beta of 0.78. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.84.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $543.75 million during the quarter, compared to analysts’ expectations of $526.43 million. Casella Waste Systems had a return on equity of 5.32% and a net margin of 0.29%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 EPS. Equities analysts forecast that Casella Waste Systems, Inc. will post 1.22 earnings per share for the current year.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc is a regional solid waste services company founded in 1975 and headquartered in Rutland, Vermont. The company provides collection, transfer, disposal, recycling and organics services for residential, commercial, industrial and municipal customers.

Casella operates an integrated network of solid waste management assets, including transfer stations, recycling facilities, landfills, composting and organics-processing operations, and resource-recovery facilities.