Bank of America Corp DE Sells 75,409 Shares of Casella Waste Systems, Inc. (NASDAQ:CWST)

Bank of America Corp DE cut its stake in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 20.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 288,475 shares of the industrial products company's stock after selling 75,409 shares during the quarter. Bank of America Corp DE owned about 0.46% of Casella Waste Systems worth $30,524,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CWST. Mather Group LLC. lifted its position in Casella Waste Systems by 1,606.7% during the 4th quarter. Mather Group LLC. now owns 256 shares of the industrial products company's stock worth $27,000 after acquiring an additional 241 shares in the last quarter. Covestor Ltd grew its position in Casella Waste Systems by 124.4% in the fourth quarter. Covestor Ltd now owns 276 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 153 shares in the last quarter. Quarry LP purchased a new stake in shares of Casella Waste Systems during the fourth quarter valued at approximately $30,000. Jones Financial Companies Lllp lifted its position in shares of Casella Waste Systems by 156.5% during the fourth quarter. Jones Financial Companies Lllp now owns 318 shares of the industrial products company's stock worth $34,000 after purchasing an additional 194 shares in the last quarter. Finally, Huntington National Bank boosted its stake in shares of Casella Waste Systems by 171.6% in the fourth quarter. Huntington National Bank now owns 364 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 99.51% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CWST. Raymond James reaffirmed a "strong-buy" rating on shares of Casella Waste Systems in a report on Wednesday, April 16th. William Blair restated an "outperform" rating on shares of Casella Waste Systems in a research note on Friday, February 14th. UBS Group lifted their target price on Casella Waste Systems from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Jefferies Financial Group cut Casella Waste Systems from a "buy" rating to a "hold" rating and cut their price target for the stock from $115.00 to $113.00 in a research note on Thursday, January 23rd. Finally, TD Cowen initiated coverage on Casella Waste Systems in a report on Wednesday, April 9th. They issued a "buy" rating and a $130.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Casella Waste Systems currently has an average rating of "Moderate Buy" and a consensus price target of $122.67.

Insider Activity at Casella Waste Systems

In other Casella Waste Systems news, SVP Paul Ligon sold 2,000 shares of Casella Waste Systems stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $118.67, for a total value 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 $2,414,578.49. The trade was a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 sale, the president now owns 150,093 shares of the company's stock, valued at approximately $17,888,083.74. The trade was a 3.57% decrease in their position. The disclosure for this sale can be found here. 4.24% of the stock is owned by corporate insiders.

Casella Waste Systems Stock Down 1.1%

CWST stock traded down $1.26 during mid-day trading on Thursday, hitting $113.39. 20,796 shares of the company were exchanged, compared to its average volume of 380,700. The company has a market capitalization of $7.20 billion, a PE ratio of 492.39, a price-to-earnings-growth ratio of 3.86 and a beta of 0.89. The company has a current ratio of 2.00, a quick ratio of 2.48 and a debt-to-equity ratio of 0.70. Casella Waste Systems, Inc. has a twelve month low of $91.01 and a twelve month high of $121.24. The firm has a fifty day simple moving average of $113.67 and a 200 day simple moving average of $110.47.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last issued its 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 business had revenue of $417.10 million for the quarter, compared to analyst estimates of $403.64 million. During the same quarter in the prior year, the business posted $0.15 EPS. The company's revenue for the quarter was up 22.3% on a year-over-year basis. On average, research analysts forecast that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

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.