Cannon Global Investment Management LLC Purchases New Shares in Casella Waste Systems, Inc. (NASDAQ:CWST)

Cannon Global Investment Management LLC purchased a new stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,500 shares of the industrial products company's stock, valued at approximately $279,000.

Other large investors also recently modified their holdings of the company. Covestor Ltd increased its holdings in shares of Casella Waste Systems by 124.4% during the fourth quarter. Covestor Ltd now owns 276 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 153 shares during the period. Quarry LP acquired a new position in shares of Casella Waste Systems during the fourth quarter valued at $30,000. NBC Securities Inc. acquired a new position in shares of Casella Waste Systems during the first quarter valued at $31,000. Jones Financial Companies Lllp increased its holdings 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 valued at $34,000 after purchasing an additional 194 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Casella Waste Systems during the first quarter valued at $34,000. 99.51% of the stock is owned by institutional investors and hedge funds.

Casella Waste Systems Price Performance

CWST stock traded up $2.92 during trading hours on Friday, hitting $114.51. 264,767 shares of the stock traded hands, compared to its average volume of 394,637. The stock has a 50-day simple moving average of $116.19 and a 200 day simple moving average of $112.13. Casella Waste Systems, Inc. has a one year low of $91.01 and a one year high of $121.24. The company has a market cap of $7.27 billion, a P/E ratio of 520.52, a P/E/G ratio of 4.15 and a beta of 0.84. The company has a current ratio of 1.96, a quick ratio of 1.87 and a debt-to-equity ratio of 0.72.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.08. Casella Waste Systems had a return on equity of 4.69% and a net margin of 0.79%. The business had revenue of $417.10 million during the quarter, compared to analysts' expectations of $403.64 million. During the same quarter last year, the business posted $0.15 earnings per share. The company's quarterly revenue was up 22.3% on a year-over-year basis. Equities analysts forecast that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, President Edmond Coletta sold 5,562 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $119.18, for a total value of $662,879.16. Following the completion of the transaction, the president owned 150,093 shares in the company, valued at $17,888,083.74. This trade represents a 3.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Paul Ligon sold 2,000 shares of the 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 owned 20,347 shares of the company's stock, valued at $2,414,578.49. This trade represents a 8.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.81% of the company's stock.

Wall Street Analyst Weigh In

CWST has been the topic of a number of research analyst reports. UBS Group raised their price target on Casella Waste Systems from $130.00 to $135.00 and gave the company a "buy" rating in a report on Friday, April 11th. TD Cowen initiated coverage on Casella Waste Systems in a report on Wednesday, April 9th. They set a "buy" rating and a $130.00 price target on the stock. Cowen reissued a "buy" rating on shares of Casella Waste Systems in a report on Friday, June 6th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Casella Waste Systems in a research note on Wednesday, April 16th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.67.

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.