Brant Point Investment Management LLC Boosts Holdings in Casella Waste Systems, Inc. $CWST

Key Points

• Brant Point Investment Management nearly doubled its stake in Casella Waste Systems in the fourth quarter, increasing holdings by 98.2% to 53,680 shares worth about $5.26 million.
• Casella Waste Systems posted better-than-expected first-quarter results, reporting EPS of $0.20 versus the $0.10 estimate and revenue of $457.33 million, up 9.6% year over year.
• Despite solid earnings, the stock faces mixed sentiment: several insiders sold shares recently, and analysts now have a Moderate Buy consensus with a $111.13 price target.

Brant Point Investment Management LLC boosted its position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 98.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,680 shares of the industrial products company's stock after acquiring an additional 26,600 shares during the period. Casella Waste Systems accounts for 0.6% of Brant Point Investment Management LLC's holdings, making the stock its 22nd biggest position. Brant Point Investment Management LLC owned 0.08% of Casella Waste Systems worth $5,257,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Casella Waste Systems by 9.7% during the fourth quarter. Vanguard Group Inc. now owns 6,574,893 shares of the industrial products company's stock valued at $643,945,000 after acquiring an additional 581,310 shares during the last quarter. Aberdeen Group plc lifted its position in Casella Waste Systems by 79.2% during the fourth quarter. Aberdeen Group plc now owns 186,992 shares of the industrial products company's stock valued at $18,314,000 after acquiring an additional 82,616 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in Casella Waste Systems by 6.2% during the third quarter. Westfield Capital Management Co. LP now owns 1,647,907 shares of the industrial products company's stock valued at $156,353,000 after acquiring an additional 95,600 shares during the last quarter. TimesSquare Capital Management LLC lifted its position in Casella Waste Systems by 21.6% during the third quarter. TimesSquare Capital Management LLC now owns 609,175 shares of the industrial products company's stock valued at $57,799,000 after acquiring an additional 108,146 shares during the last quarter. Finally, Forge First Asset Management Inc. purchased a new stake in Casella Waste Systems during the third quarter valued at approximately $15,353,000. Hedge funds and other institutional investors own 99.51% of the company's stock.

Casella Waste Systems Trading Down 0.4%

NASDAQ CWST opened at $89.37 on Friday. The company has a fifty day simple moving average of $84.57 and a two-hundred day simple moving average of $92.40. The stock has a market cap of $5.68 billion, a P/E ratio of 812.53 and a beta of 0.77. Casella Waste Systems, Inc. has a 12-month low of $74.05 and a 12-month high of $118.91. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.72.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last issued its earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.10. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The firm had revenue of $457.33 million during the quarter, compared to analysts' expectations of $454.49 million. During the same quarter last year, the company posted $0.19 earnings per share. The firm's revenue was up 9.6% compared to the same quarter last year. On average, analysts forecast that Casella Waste Systems, Inc. will post 1.12 earnings per share for the current year.

Insider Buying and Selling at Casella Waste Systems

In related news, CFO Bradford John Helgeson sold 405 shares of the firm's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $87.73, for a total transaction of $35,530.65. Following the completion of the transaction, the chief financial officer owned 7,342 shares of the company's stock, valued at $644,113.66. This trade represents a 5.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael K. Burke sold 2,305 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $1,230,042.88. This trade represents a 14.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 18,027 shares of company stock worth $1,604,141. 3.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on CWST. UBS Group decreased their target price on shares of Casella Waste Systems from $140.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, March 10th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $115.00 price target on shares of Casella Waste Systems in a report on Monday, February 23rd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Casella Waste Systems in a report on Friday, May 22nd. Zacks Research cut shares of Casella Waste Systems from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Casella Waste Systems from $112.00 to $110.00 and set a "neutral" rating for the company in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $111.13.

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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