Casella Waste Systems, Inc. $CWST is Conestoga Capital Advisors LLC's Largest Position

Key Points

• Conestoga Capital Advisors trimmed its position in Casella Waste (NASDAQ:CWST) by 3.4% to 2,777,327 shares, which remained its largest holding and represented about 4.37% of the company (≈$272.0M) at quarter-end.
• Quarterly results beat expectations: Casella reported $0.20 EPS vs. $0.10 expected and revenue of $457.33M (vs. $454.49M), a 9.6% year-over-year revenue increase, and analysts forecast $1.15 EPS for the fiscal year.
• Analyst and ownership backdrop: The stock has a consensus "Moderate Buy" with an average price target of $111 versus a recent price near $79 (52-week range $74.05–$121.24), and institutional investors own about 99.51% of the shares.

Conestoga Capital Advisors LLC lessened its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,777,327 shares of the industrial products company's stock after selling 98,734 shares during the quarter. Casella Waste Systems comprises approximately 4.6% of Conestoga Capital Advisors LLC's portfolio, making the stock its biggest position. Conestoga Capital Advisors LLC owned about 4.37% of Casella Waste Systems worth $272,011,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CWST. Smartleaf Asset Management LLC raised its position in Casella Waste Systems by 180.2% in the third quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company's stock worth $27,000 after acquiring an additional 191 shares in the last quarter. Geneos Wealth Management Inc. raised its position 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 worth $27,000 after acquiring an additional 184 shares in the last quarter. First Horizon Corp purchased a new position in Casella Waste Systems in the third quarter worth $31,000. EverSource Wealth Advisors LLC raised its position in Casella Waste Systems by 235.3% in the second quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company's stock worth $33,000 after acquiring an additional 200 shares in the last quarter. Finally, Optiver Holding B.V. raised its position in Casella Waste Systems by 280.0% in the third quarter. Optiver Holding B.V. now owns 399 shares of the industrial products company's stock worth $38,000 after acquiring an additional 294 shares in the last quarter. Hedge funds and other institutional investors own 99.51% of the company's stock.

Casella Waste Systems Trading Up 1.5%

Shares of CWST stock opened at $79.25 on Friday. Casella Waste Systems, Inc. has a fifty-two week low of $74.05 and a fifty-two week high of $121.24. The stock has a market cap of $5.03 billion, a P/E ratio of 660.47 and a beta of 0.84. The business has a fifty day simple moving average of $85.11 and a 200-day simple moving average of $92.91. 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 (NASDAQ:CWST - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.10. The business had revenue of $457.33 million for the quarter, compared to analyst estimates of $454.49 million. Casella Waste Systems had a return on equity of 5.17% and a net margin of 0.43%.The business's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 earnings per share. On average, analysts forecast that Casella Waste Systems, Inc. will post 1.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Casella Waste Systems news, CAO Kevin Drohan sold 675 shares of the firm's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $92.61, for a total value of $62,511.75. Following the sale, the chief accounting officer directly owned 7,462 shares of the company's stock, valued at approximately $691,055.82. This trade represents a 8.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edmond Coletta sold 988 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $87.81, for a total value of $86,756.28. Following the completion of the sale, the chief executive officer directly owned 152,618 shares in the company, valued at approximately $13,401,386.58. The trade was a 0.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,830 shares of company stock valued at $1,454,208 in the last quarter. Corporate insiders own 3.81% of the company's stock.

Analysts Set New Price Targets

CWST has been the subject of several research analyst reports. Weiss Ratings cut Casella Waste Systems from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, February 23rd. JPMorgan Chase & Co. cut their price objective on Casella Waste Systems from $112.00 to $110.00 and set a "neutral" rating for the company in a research report on Monday, February 23rd. Barclays increased their price objective on 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. Zacks Research upgraded Casella Waste Systems from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 1st. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $115.00 price objective on shares of Casella Waste Systems in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $111.00.

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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