Bank of America Corp DE lowered its stake in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 28.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 438,906 shares of the industrial products company's stock after selling 176,189 shares during the quarter. Bank of America Corp DE owned about 0.69% of Casella Waste Systems worth $34,823,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Pictet Asset Management Holding SA raised its holdings in Casella Waste Systems by 10,865.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 990,651 shares of the industrial products company's stock valued at $97,040,000 after acquiring an additional 981,617 shares in the last quarter. State Street Corp raised its holdings in shares of Casella Waste Systems by 60.7% during the fourth 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 during the period. Alliancebernstein L.P. lifted its position in shares of Casella Waste Systems by 1,106.7% in the 2nd quarter. Alliancebernstein L.P. now owns 867,285 shares of the industrial products company's stock worth $100,067,000 after buying an additional 795,414 shares during the last quarter. UBS Group AG lifted its position in shares of Casella Waste Systems by 653.2% in the 4th quarter. UBS Group AG now owns 841,897 shares of the industrial products company's stock worth $82,455,000 after buying an additional 730,128 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Casella Waste Systems by 9.7% in the 4th quarter. Vanguard Group Inc. now owns 6,574,893 shares of the industrial products company's stock valued at $643,945,000 after buying an additional 581,310 shares during the period. 99.51% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Casella Waste Systems
In other Casella Waste Systems news, Director Michael K. Burke sold 2,305 shares of Casella Waste Systems stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total transaction of $201,825.80. Following the transaction, the director directly owned 14,048 shares in the company, valued at approximately $1,230,042.88. The trade was a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Douglas R. Casella sold 15,157 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $91.05, for a total value of $1,380,044.85. Following the completion of the transaction, the director owned 91,484 shares of the company's stock, valued at $8,329,618.20. This represents a 14.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 31,305 shares of company stock valued at $2,823,745. 3.78% of the stock is currently owned by company insiders.
Casella Waste Systems Stock Performance
NASDAQ:CWST opened at $90.72 on Friday. The firm has a market capitalization of $5.77 billion, a PE ratio of 1,008.11 and a beta of 0.74. The firm's fifty day simple moving average is $91.86 and its 200 day simple moving average is $90.01. The company has a current ratio of 0.99, a quick ratio of 1.38 and a debt-to-equity ratio of 0.84. Casella Waste Systems, Inc. has a 1 year low of $74.05 and a 1 year 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 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.04. The business had revenue of $543.75 million during the quarter, compared to analyst estimates of $526.43 million. Casella Waste Systems had a net margin of 0.29% and a return on equity of 5.32%. The firm's revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. On average, sell-side analysts anticipate that Casella Waste Systems, Inc. will post 1.24 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on CWST. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Casella Waste Systems in a research report on Friday, May 22nd. JPMorgan Chase & Co. reduced their price objective on Casella Waste Systems from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, August 10th. Zacks Research raised Casella Waste Systems from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 8th. UBS Group lowered their target price on Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating on the stock in a research report on Friday, June 26th. Finally, TD Cowen reiterated a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $109.75.
Get Our Latest Research Report on Casella Waste Systems
Casella Waste Systems Profile
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Free Report)
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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