122,675 Shares in Casella Waste Systems, Inc. $CWST Acquired by Atom Investors LP

Key Points

• Atom Investors LP initiated a new stake in Casella Waste Systems, buying 122,675 shares valued at about $12.0 million. The position represents roughly 1.0% of Atom Investors’ portfolio and 0.19% of the company.
• Casella Waste Systems reported better-than-expected quarterly results, posting $0.20 EPS versus the $0.10 estimate and revenue of $457.33 million, up 9.6% year over year. Analysts currently have a Moderate Buy consensus with an average price target of $111.13.
• There has been notable insider selling, including CEO Edmond Coletta and Director Michael K. Burke, while institutional ownership remains extremely high at 99.51% of shares outstanding.

Atom Investors LP bought a new position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 122,675 shares of the industrial products company's stock, valued at approximately $12,015,000. Casella Waste Systems makes up approximately 1.0% of Atom Investors LP's investment portfolio, making the stock its 6th biggest position. Atom Investors LP owned 0.19% of Casella Waste Systems as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Casella Waste Systems by 9.7% during the 4th quarter. Vanguard Group Inc. now owns 6,574,893 shares of the industrial products company's stock worth $643,945,000 after purchasing an additional 581,310 shares in the last quarter. Wasatch Advisors LP increased its position in Casella Waste Systems by 1.5% during the 4th quarter. Wasatch Advisors LP now owns 3,765,442 shares of the industrial products company's stock worth $368,787,000 after purchasing an additional 56,914 shares in the last quarter. Capital Research Global Investors increased its position in Casella Waste Systems by 23.7% during the 4th quarter. Capital Research Global Investors now owns 2,488,034 shares of the industrial products company's stock worth $243,678,000 after purchasing an additional 477,216 shares in the last quarter. State Street Corp increased its position in Casella Waste Systems by 60.7% during the 4th quarter. State Street Corp now owns 2,306,780 shares of the industrial products company's stock worth $225,926,000 after purchasing an additional 871,761 shares in the last quarter. Finally, Capital International Investors increased its position in Casella Waste Systems by 2.1% during the 4th quarter. Capital International Investors now owns 1,998,409 shares of the industrial products company's stock worth $195,724,000 after purchasing an additional 41,447 shares in the last quarter. Institutional investors and hedge funds own 99.51% of the company's stock.

Casella Waste Systems Stock Performance

Casella Waste Systems stock opened at $86.65 on Wednesday. The stock has a market cap of $5.51 billion, a P/E ratio of 787.80 and a beta of 0.77. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.72. The stock has a 50 day moving average of $84.58 and a 200-day moving average of $92.25. Casella Waste Systems, Inc. has a 52 week low of $74.05 and a 52 week high of $118.42.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on CWST shares. Zacks Research downgraded shares of Casella Waste Systems from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 9th. UBS Group dropped their target price on shares of Casella Waste Systems from $140.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, March 10th. Barclays raised shares of Casella Waste Systems from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $101.00 to $102.00 in a research report on Monday, May 4th. Raymond James Financial restated a "strong-buy" rating and issued a $115.00 price target on shares of Casella Waste Systems in a report on Monday, February 23rd. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Casella Waste Systems in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $111.13.

Insider Activity at Casella Waste Systems

In other news, CEO Edmond Coletta sold 12,500 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $89.56, for a total transaction of $1,119,500.00. Following the completion of the transaction, the chief executive officer directly owned 140,118 shares in the company, valued at approximately $12,548,968.08. This represents a 8.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael K. Burke sold 2,305 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total value of $201,825.80. Following the transaction, the director owned 14,048 shares of the company's stock, valued at approximately $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. Corporate insiders own 3.78% of the company's stock.

Casella Waste Systems Company Profile

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.

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