Casella Waste Systems, Inc. $CWST Stake Raised by Conestoga Capital Advisors LLC

Key Points

• Conestoga Capital Advisors increased its stake in Casella Waste Systems by 1.0% in the first quarter, bringing its holdings to 2,804,475 shares valued at about $222.5 million. The stock now makes up roughly 4.4% of the firm’s portfolio, its second-largest position.
• Casella Waste Systems reported better-than-expected quarterly results, posting EPS of $0.20 versus the $0.10 consensus estimate and revenue of $457.33 million, up 9.6% year over year. Analysts currently expect the company to earn 1.12 EPS for the full year.
• Analyst sentiment remains mixed but broadly positive, with the stock carrying an average “Moderate Buy” rating and a $110.12 average price target. Recent changes include upgrades from Barclays and rating cuts from Weiss Ratings and Zacks Research.

Conestoga Capital Advisors LLC raised its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,804,475 shares of the industrial products company's stock after acquiring an additional 27,148 shares during the period. Casella Waste Systems makes up about 4.4% of Conestoga Capital Advisors LLC's portfolio, making the stock its 2nd biggest position. Conestoga Capital Advisors LLC owned about 4.42% of Casella Waste Systems worth $222,507,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Hilton Head Capital Partners LLC acquired a new position in shares of Casella Waste Systems in the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. raised its position in Casella Waste Systems by 301.6% during the first quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 184 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Casella Waste Systems during the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC lifted its holdings in Casella Waste Systems by 41.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 98 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in Casella Waste Systems in the third quarter valued at approximately $39,000. 99.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on CWST shares. Weiss Ratings restated a "sell (d)" rating on shares of Casella Waste Systems in a research report on Friday, May 22nd. TD Cowen reiterated a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 5th. UBS Group lowered their target price on shares of Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating on the stock in a research note on Friday, June 26th. Barclays upgraded Casella Waste Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $101.00 to $102.00 in a research report on Monday, May 4th. Finally, Zacks Research cut Casella Waste Systems from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $110.12.

Casella Waste Systems Stock Performance

Casella Waste Systems stock opened at $95.36 on Thursday. The firm has a 50 day simple moving average of $85.98 and a 200-day simple moving average of $91.78. Casella Waste Systems, Inc. has a 1-year low of $74.05 and a 1-year high of $114.45. 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 stock has a market cap of $6.07 billion, a price-to-earnings ratio of 866.99 and a beta of 0.74.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $454.49 million. During the same period in the previous year, the firm earned $0.19 EPS. Casella Waste Systems's revenue was up 9.6% on a year-over-year basis. On average, analysts expect that Casella Waste Systems, Inc. will post 1.12 EPS for the current year.

Insider Buying and Selling at Casella Waste Systems

In other Casella Waste Systems news, Director Michael K. Burke sold 2,305 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total value of $201,825.80. Following the transaction, the director directly owned 14,048 shares in the company, valued at $1,230,042.88. This represents a 14.10% 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, CEO Edmond Coletta sold 12,500 shares of the firm's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $89.56, for a total value of $1,119,500.00. Following the transaction, the chief executive officer directly owned 140,118 shares in the company, valued at approximately $12,548,968.08. The trade was a 8.19% decrease in their position. The SEC filing for this sale provides additional information. 3.78% of the stock is currently owned by company insiders.

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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