Argent Capital Management LLC Raises Stake in Casella Waste Systems, Inc. $CWST

Key Points

• Argent Capital Management increased its Casella Waste Systems stake by 1,054.4% in the first quarter, holding 73,097 shares valued at approximately $5.8 million. Institutional investors and hedge funds collectively own 99.51% of the company.
• Casella reported quarterly earnings of $0.20 per share, beating estimates of $0.10, while revenue rose 9.6% year over year to $457.33 million. Analysts project full-year earnings of $1.06 per share.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $110.12 versus the stock’s $89.71 price. However, the CEO and a director recently sold shares, and the stock trades at a very high P/E ratio of 815.62.

Argent Capital Management LLC boosted its position in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 1,054.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 73,097 shares of the industrial products company's stock after acquiring an additional 66,765 shares during the period. Argent Capital Management LLC owned about 0.11% of Casella Waste Systems worth $5,800,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CWST. Geneos Wealth Management Inc. increased its stake in shares of Casella Waste Systems by 301.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 184 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in Casella Waste Systems in the fourth quarter valued at approximately $25,000. Los Angeles Capital Management LLC acquired a new position in Casella Waste Systems during the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC boosted its position in Casella Waste Systems by 235.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company's stock worth $33,000 after purchasing an additional 200 shares during the period. Finally, SHP Wealth Management purchased a new stake in shares of Casella Waste Systems in the fourth quarter worth about $43,000. 99.51% of the stock is currently owned by institutional investors and hedge funds.

Casella Waste Systems Price Performance

NASDAQ CWST opened at $89.71 on Friday. Casella Waste Systems, Inc. has a 12 month low of $74.05 and a 12 month high of $109.46. The firm has a market capitalization of $5.71 billion, a PE ratio of 815.62 and a beta of 0.74. The company's 50 day simple moving average is $90.67 and its 200 day simple moving average is $90.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 1.38.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.10. The firm had revenue of $457.33 million during the quarter, compared to the consensus estimate of $454.49 million. Casella Waste Systems had a return on equity of 5.19% and a net margin of 0.38%.The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. As a group, equities research analysts forecast that Casella Waste Systems, Inc. will post 1.06 EPS for the current fiscal year.

Insider Activity at Casella Waste Systems

In related news, Director Michael K. Burke sold 2,305 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total transaction of $201,825.80. Following the completion of the sale, the director directly owned 14,048 shares in the company, valued at approximately $1,230,042.88. This trade represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Edmond Coletta sold 12,500 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total value of $1,119,500.00. Following the sale, the chief executive officer owned 140,118 shares of the company's stock, valued at $12,548,968.08. This trade represents a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CWST shares. TD Cowen reaffirmed a "buy" rating on shares of Casella Waste Systems in a report on Friday, June 5th. Barclays raised Casella Waste Systems from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $101.00 to $102.00 in a report on Monday, May 4th. UBS Group reduced their price objective on Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating on the stock in a research note on Friday, June 26th. Zacks Research raised shares of Casella Waste Systems from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 8th. Finally, Weiss Ratings reissued 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, seven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Casella Waste Systems has an average rating of "Moderate Buy" and a consensus price target of $110.12.

Casella Waste Systems 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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