Casella Waste Systems, Inc. (NASDAQ:CWST) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its stake in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 303,135 shares of the industrial products company's stock after selling 11,330 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.48% of Casella Waste Systems worth $33,803,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Teacher Retirement System of Texas purchased a new stake in shares of Casella Waste Systems in the first quarter valued at $1,480,000. GAMMA Investing LLC grew its position in shares of Casella Waste Systems by 138.6% in the first quarter. GAMMA Investing LLC now owns 1,303 shares of the industrial products company's stock valued at $145,000 after purchasing an additional 757 shares during the period. Bank of Montreal Can grew its position in shares of Casella Waste Systems by 71.7% in the fourth quarter. Bank of Montreal Can now owns 5,200 shares of the industrial products company's stock valued at $550,000 after purchasing an additional 2,172 shares during the period. Victory Capital Management Inc. grew its position in shares of Casella Waste Systems by 3.1% in the fourth quarter. Victory Capital Management Inc. now owns 47,396 shares of the industrial products company's stock valued at $5,015,000 after purchasing an additional 1,415 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Casella Waste Systems by 5.6% in the first quarter. Rhumbline Advisers now owns 91,720 shares of the industrial products company's stock valued at $10,228,000 after purchasing an additional 4,862 shares during the period. 99.51% of the stock is owned by institutional investors and hedge funds.

Casella Waste Systems Stock Down 0.3%

Shares of NASDAQ CWST traded down $0.28 on Thursday, hitting $109.56. The company had a trading volume of 572,695 shares, compared to its average volume of 391,810. Casella Waste Systems, Inc. has a 12-month low of $91.01 and a 12-month high of $121.24. The business has a 50 day moving average of $114.97 and a two-hundred day moving average of $112.37. The company has a quick ratio of 1.87, a current ratio of 1.96 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $6.95 billion, a P/E ratio of 498.02, a PEG ratio of 4.02 and a beta of 0.84.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.08. Casella Waste Systems had a return on equity of 4.69% and a net margin of 0.79%. The company had revenue of $417.10 million during the quarter, compared to the consensus estimate of $403.64 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. The company's revenue was up 22.3% compared to the same quarter last year. As a group, equities research analysts forecast that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Casella Waste Systems

In other news, President Edmond Coletta sold 5,562 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $119.18, for a total value of $662,879.16. Following the completion of the sale, the president owned 150,093 shares of the company's stock, valued at $17,888,083.74. This represents a 3.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.81% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on CWST. UBS Group lifted their price objective on Casella Waste Systems from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, April 11th. TD Cowen started coverage on Casella Waste Systems in a research report on Wednesday, April 9th. They set a "buy" rating and a $130.00 price target for the company. Cowen reissued a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 6th. William Blair reissued an "outperform" rating on shares of Casella Waste Systems in a research report on Tuesday. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Casella Waste Systems in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Casella Waste Systems presently has an average rating of "Moderate Buy" and a consensus target price of $122.67.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.