B. Metzler seel. Sohn & Co. AG Raises Position in Casella Waste Systems, Inc. $CWST

Key Points

• B. Metzler seel. Sohn & Co. AG increased its Casella Waste Systems stake by 89.8% in the second quarter, while institutional investors collectively own 99.51% of the company.
• Casella reported quarterly revenue of $543.75 million, up 16.9% year over year and above estimates, while adjusted earnings of $0.40 per share exceeded expectations by $0.04.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $109.75; shares recently traded at $95.96.

B. Metzler seel. Sohn & Co. AG boosted its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 89.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,501 shares of the industrial products company's stock after buying an additional 29,094 shares during the period. B. Metzler seel. Sohn & Co. AG owned approximately 0.10% of Casella Waste Systems worth $5,964,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Casella Waste Systems by 41.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company's stock worth $33,000 after purchasing an additional 98 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Casella Waste Systems by 3.9% in the third quarter. Mackenzie Financial Corp now owns 3,975 shares of the industrial products company's stock worth $377,000 after purchasing an additional 149 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Casella Waste Systems by 301.6% in the first quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 184 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in Casella Waste Systems by 46.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 662 shares of the industrial products company's stock valued at $65,000 after purchasing an additional 211 shares in the last quarter. Finally, Hilton Head Capital Partners LLC lifted its position in Casella Waste Systems by 86.5% during the first quarter. Hilton Head Capital Partners LLC now owns 468 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 217 shares during the last quarter. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Casella Waste Systems Stock Up 2.7%

Shares of NASDAQ:CWST opened at $95.96 on Friday. The stock has a market capitalization of $6.11 billion, a P/E ratio of 1,066.34 and a beta of 0.74. The stock's 50-day moving average price is $93.22 and its 200-day moving average price is $88.81. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.84. Casella Waste Systems, Inc. has a 12-month low of $74.05 and a 12-month high of $107.96.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. Casella Waste Systems had a return on equity of 5.32% and a net margin of 0.29%.The firm had revenue of $543.75 million during the quarter, compared to the consensus estimate of $526.43 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The business's revenue was up 16.9% on a year-over-year basis. On average, equities analysts anticipate that Casella Waste Systems, Inc. will post 1.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings raised shares of Casella Waste Systems from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, August 14th. JPMorgan Chase & Co. dropped their price objective on shares of Casella Waste Systems from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Monday, August 10th. Zacks Research upgraded shares of Casella Waste Systems from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 8th. Barclays increased their target price on Casella Waste Systems from $102.00 to $104.00 and gave the company an "overweight" rating in a research note on Monday, August 10th. Finally, TD Cowen restated a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $109.75.

Insiders Place Their Bets

In other news, Director Douglas R. Casella sold 1,343 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $91.12, for a total transaction of $122,374.16. Following the completion of the transaction, the director directly owned 90,141 shares of the company's stock, valued at approximately $8,213,647.92. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael K. Burke sold 1,100 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $95.26, for a total transaction of $104,786.00. Following the sale, the director owned 13,641 shares of the company's stock, valued at approximately $1,299,441.66. This represents a 7.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 18,700 shares of company stock worth $1,709,494. Insiders own 3.78% of the company's stock.

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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