31,820 Shares in Casella Waste Systems, Inc. $CWST Bought by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue opened a new position of 31,820 shares (~$3.12 million), representing about 0.05% of Casella Waste Systems at the end of the reporting period.
• Casella beat Q expectations with EPS of $0.30 vs. $0.22 and revenue of $469.06M (+9.7% YoY); the stock has a ~$5.21B market cap, an elevated P/E of 684.14, and a consensus analyst rating of "Moderate Buy" with a $111 price target.
• Insiders sold 15,830 shares worth about $1.45M over the last quarter (insiders own 3.81%), while institutional investors collectively hold 99.51% of the company.

State of Alaska Department of Revenue purchased a new position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 31,820 shares of the industrial products company's stock, valued at approximately $3,116,000. State of Alaska Department of Revenue owned approximately 0.05% of Casella Waste Systems at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Casella Waste Systems in the 3rd quarter valued at $2,707,000. Impax Asset Management Group plc boosted its stake in shares of Casella Waste Systems by 33.3% in the 3rd quarter. Impax Asset Management Group plc now owns 80,000 shares of the industrial products company's stock valued at $7,590,000 after purchasing an additional 20,000 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake in shares of Casella Waste Systems by 40.9% in the 3rd quarter. UniSuper Management Pty Ltd now owns 102,003 shares of the industrial products company's stock valued at $9,678,000 after purchasing an additional 29,605 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Casella Waste Systems by 14.3% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 81,417 shares of the industrial products company's stock valued at $7,725,000 after purchasing an additional 10,207 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of Casella Waste Systems by 72.1% in the 3rd quarter. Voya Investment Management LLC now owns 536,376 shares of the industrial products company's stock valued at $50,891,000 after purchasing an additional 224,691 shares in the last quarter. Institutional investors and hedge funds own 99.51% of the company's stock.

Casella Waste Systems Trading Up 0.7%

NASDAQ:CWST opened at $82.09 on Friday. The company has a market cap of $5.21 billion, a P/E ratio of 684.14 and a beta of 0.84. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. Casella Waste Systems, Inc. has a twelve month low of $74.05 and a twelve month high of $121.24. The business has a 50 day moving average price of $89.95 and a two-hundred day moving average price of $93.73.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The industrial products company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.22 by $0.08. Casella Waste Systems had a return on equity of 5.17% and a net margin of 0.43%.The company had revenue of $469.06 million during the quarter, compared to the consensus estimate of $471.32 million. During the same quarter in the prior year, the firm posted $0.41 EPS. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, analysts expect that Casella Waste Systems, Inc. will post 1.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CWST. Barclays upped their price target on shares of Casella Waste Systems from $95.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Monday, February 23rd. UBS Group reduced their price target on shares of Casella Waste Systems from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, March 10th. JPMorgan Chase & Co. reduced their price target on shares of Casella Waste Systems from $112.00 to $110.00 and set a "neutral" rating on the stock in a research report on Monday, February 23rd. Zacks Research upgraded shares of Casella Waste Systems from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 1st. Finally, Jefferies Financial Group set a $120.00 price target on shares of Casella Waste Systems and gave the stock a "buy" rating in a research report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.00.

Insider Transactions at Casella Waste Systems

In related news, CAO Kevin Drohan sold 675 shares of the firm's stock in a transaction on Friday, February 27th. The stock was sold at an average price of $92.61, for a total value of $62,511.75. Following the transaction, the chief accounting officer owned 7,462 shares in the company, valued at approximately $691,055.82. This trade represents a 8.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Edmond Coletta sold 3,812 shares of the firm's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $93.70, for a total value of $357,184.40. Following the completion of the sale, the president directly owned 147,091 shares in the company, valued at $13,782,426.70. This trade represents a 2.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,830 shares of company stock worth $1,454,208 over the last quarter. 3.81% of the stock is currently owned by corporate insiders.

About Casella Waste Systems

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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