Clearbridge Investments LLC Purchases 430,822 Shares of Casella Waste Systems, Inc. $CWST

Key Points

• Clearbridge Investments boosted its stake in Casella Waste Systems by 134.6% in the fourth quarter, buying 430,822 additional shares and bringing its total holding to 750,859 shares worth about $73.5 million.
• Casella Waste Systems reported better-than-expected quarterly results, with EPS of $0.20 versus a $0.10 consensus estimate and revenue of $457.33 million, up 9.6% year over year.
• Analyst sentiment remains mixed but constructive overall: the stock has a Moderate Buy consensus rating, even as Barclays upgraded it to overweight and some firms trimmed price targets or issued cautious views.

Clearbridge Investments LLC increased its position in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 134.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 750,859 shares of the industrial products company's stock after purchasing an additional 430,822 shares during the quarter. Clearbridge Investments LLC owned approximately 1.18% of Casella Waste Systems worth $73,539,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CWST. Vanguard Group Inc. raised its holdings in Casella Waste Systems by 9.7% in the 4th 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 period. Wasatch Advisors LP raised its holdings in Casella Waste Systems by 8.7% in the 3rd quarter. Wasatch Advisors LP now owns 3,708,528 shares of the industrial products company's stock valued at $351,865,000 after acquiring an additional 296,405 shares during the period. Capital Research Global Investors raised its holdings in Casella Waste Systems by 23.7% in the 4th quarter. Capital Research Global Investors now owns 2,488,034 shares of the industrial products company's stock valued at $243,678,000 after acquiring an additional 477,216 shares during the period. Capital International Investors raised its holdings in Casella Waste Systems by 2.1% in the 4th quarter. Capital International Investors now owns 1,998,409 shares of the industrial products company's stock valued at $195,724,000 after acquiring an additional 41,447 shares during the period. Finally, William Blair Investment Management LLC raised its holdings in Casella Waste Systems by 0.5% in the 3rd quarter. William Blair Investment Management LLC now owns 1,809,867 shares of the industrial products company's stock valued at $171,720,000 after acquiring an additional 9,712 shares during the period. 99.51% of the stock is owned by institutional investors.

Casella Waste Systems Stock Performance

Shares of NASDAQ:CWST opened at $84.58 on Tuesday. The company's 50 day moving average price is $83.70 and its two-hundred day moving average price is $92.50. Casella Waste Systems, Inc. has a 12-month low of $74.05 and a 12-month high of $118.91. The firm has a market cap of $5.38 billion, a PE ratio of 768.98 and a beta of 0.77. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.72.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last posted its quarterly 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. The business had revenue of $457.33 million for the quarter, compared to analyst estimates of $454.49 million. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The firm's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS. Equities research analysts predict that Casella Waste Systems, Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CWST shares. Barclays raised shares of Casella Waste Systems from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $101.00 to $102.00 in a report on Monday, May 4th. UBS Group lowered their price target on shares of Casella Waste Systems from $140.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, March 10th. Weiss Ratings reissued a "sell (d)" rating on shares of Casella Waste Systems in a report on Friday, May 22nd. TD Cowen reissued a "buy" rating on shares of Casella Waste Systems in a report on Friday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Casella Waste Systems from $112.00 to $110.00 and set a "neutral" rating on the stock in a report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $111.13.

Insider Activity

In related news, Director John W. Casella sold 1,744 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $87.77, for a total transaction of $153,070.88. Following the sale, the director owned 30,795 shares in the company, valued at approximately $2,702,877.15. This trade represents a 5.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Edmond Coletta sold 12,500 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $89.56, for a total transaction of $1,119,500.00. Following the sale, the chief executive officer owned 140,118 shares in the company, valued at $12,548,968.08. This represents a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 19,422 shares of company stock worth $1,729,647. Insiders own 3.78% of the company's stock.

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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