Casella Waste Systems, Inc. $CWST Shares Acquired by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Casella Waste Systems stake by 26.2% in the first quarter, bringing its holdings to 74,027 shares valued at approximately $5.9 million. Institutional investors and hedge funds collectively own 99.51% of the company.
• Casella insiders recently sold shares: Director Michael K. Burke sold 2,305 shares, while CEO Edmond Coletta sold 12,500 shares. Corporate insiders now own 3.78% of the stock.
• CWST opened at $90.04, down 1.6%, while analysts maintained an overall “Moderate Buy” consensus with an average price target of $110.12. Ratings include seven Buys, two Holds, one Strong Buy and one Sell.

California State Teachers Retirement System lifted its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 26.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,027 shares of the industrial products company's stock after buying an additional 15,380 shares during the quarter. California State Teachers Retirement System owned 0.12% of Casella Waste Systems worth $5,873,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CWST. EverSource Wealth Advisors LLC raised its stake 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 valued at $33,000 after purchasing an additional 98 shares during the period. Mackenzie Financial Corp boosted its stake 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 valued at $377,000 after purchasing an additional 149 shares during the period. First Horizon Corp grew its holdings in Casella Waste Systems by 48.6% during the 4th quarter. First Horizon Corp now owns 489 shares of the industrial products company's stock valued at $48,000 after purchasing an additional 160 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in 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 purchasing an additional 184 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in Casella Waste Systems by 46.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 662 shares of the industrial products company's stock worth $65,000 after buying an additional 211 shares during the period. 99.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michael K. Burke sold 2,305 shares of the company's stock in a transaction dated 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 transaction, the director owned 14,048 shares in the company, valued at approximately $1,230,042.88. This represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edmond Coletta sold 12,500 shares of Casella Waste Systems stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total transaction of $1,119,500.00. Following the completion of the sale, the chief executive officer owned 140,118 shares in the company, valued at approximately $12,548,968.08. This represents a 8.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.78% of the stock is currently owned by corporate insiders.

Casella Waste Systems Trading Down 1.6%

NASDAQ:CWST opened at $90.04 on Thursday. Casella Waste Systems, Inc. has a 12-month low of $74.05 and a 12-month high of $107.96. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 1.38. The business has a 50 day simple moving average of $90.92 and a 200 day simple moving average of $90.64. The firm has a market capitalization of $5.73 billion, a P/E ratio of 818.62 and a beta of 0.74.

Analysts Set New Price Targets

CWST has been the subject of a number of analyst reports. Barclays raised shares of Casella Waste Systems from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $101.00 to $102.00 in a research report on Monday, May 4th. Zacks Research raised Casella Waste Systems from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 8th. Weiss Ratings restated a "sell (d)" rating on shares of Casella Waste Systems in a research note on Friday, May 22nd. UBS Group dropped their price objective on Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating on the stock in a report on Friday, June 26th. Finally, TD Cowen reaffirmed 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 given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $110.12.

Casella Waste Systems Company 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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