Corient Private Wealth LP Has $3.03 Million Holdings in Casella Waste Systems, Inc. $CWST

Key Points

• Corient Private Wealth LP increased its Casella Waste Systems stake by 343% in the second quarter, owning 31,217 shares valued at approximately $3.03 million. Institutional investors collectively hold 99.51% of the company.
• Casella exceeded quarterly expectations, reporting $0.40 in earnings per share versus the $0.36 consensus estimate and revenue of $543.75 million, up 16.9% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $112.86, while company insiders sold 18,700 shares worth about $1.71 million over the past 90 days.

Corient Private Wealth LP increased its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 343.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,217 shares of the industrial products company's stock after acquiring an additional 24,171 shares during the quarter. Corient Private Wealth LP's holdings in Casella Waste Systems were worth $3,027,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted 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 worth $33,000 after acquiring an additional 98 shares in the last quarter. Hilton Head Capital Partners LLC increased its holdings in shares of Casella Waste Systems by 86.5% during the first quarter. Hilton Head Capital Partners LLC now owns 468 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 217 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Casella Waste Systems by 0.9% during the fourth quarter. Fisher Asset Management LLC now owns 27,677 shares of the industrial products company's stock worth $2,711,000 after purchasing an additional 236 shares during the period. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Casella Waste Systems during the second quarter worth approximately $29,000. Finally, Associated Banc Corp lifted its holdings in shares of Casella Waste Systems by 11.0% in the 4th quarter. Associated Banc Corp now owns 3,126 shares of the industrial products company's stock worth $306,000 after purchasing an additional 311 shares in the last quarter. Institutional investors own 99.51% of the company's stock.

Casella Waste Systems Price Performance

CWST opened at $87.05 on Tuesday. Casella Waste Systems, Inc. has a 1 year low of $74.05 and a 1 year high of $107.96. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 967.33 and a beta of 0.74. The firm's fifty day moving average price is $91.74 and its two-hundred day moving average price is $88.37.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. Casella Waste Systems had a net margin of 0.29% and a return on equity of 5.32%. The business had revenue of $543.75 million for the quarter, compared to analysts' expectations of $526.43 million. During the same period in the previous year, the company earned $0.36 earnings per share. The firm's revenue for the quarter was up 16.9% compared to the same quarter last year. As a group, analysts anticipate that Casella Waste Systems, Inc. will post 1.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on CWST. UBS Group reduced their price target on shares of Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating for the company in a research report on Friday, June 26th. JPMorgan Chase & Co. dropped their price objective on shares of Casella Waste Systems from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Monday, August 10th. Zacks Research upgraded shares of Casella Waste Systems from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of Casella Waste Systems from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, August 14th. Finally, Barclays raised their price target on shares of Casella Waste Systems from $102.00 to $104.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $112.86.

Insider Buying and Selling

In related news, Director Douglas Casella sold 1,343 shares of Casella Waste Systems stock in a transaction on Friday, August 14th. The stock was sold at an average price of $91.12, for a total transaction of $122,374.16. Following the sale, the director directly owned 90,141 shares in the company, valued at approximately $8,213,647.92. This trade represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Burke sold 1,100 shares of the business's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $95.26, for a total value of $104,786.00. Following the completion of the transaction, the director directly owned 13,641 shares in the company, valued at approximately $1,299,441.66. This represents a 7.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,700 shares of company stock valued at $1,709,494 over the last ninety days. 3.78% of the stock is currently owned by company insiders.

About Casella Waste Systems

Casella Waste Systems, Inc is a regional solid waste services company headquartered in Rutland, Vermont. Founded in 1975, the company provides waste collection, transfer, disposal, recycling and resource-recovery services to residential, commercial, industrial and municipal customers.

Casella's services include curbside and commercial waste collection, construction and demolition debris management, transfer station operations, recycling of paper, cardboard, plastics and other materials, and organics recycling.

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