First Trust Advisors LP Grows Stock Position in Casella Waste Systems, Inc. $CWST

Key Points

• First Trust Advisors LP increased its Casella Waste Systems position by 1,166.1% in the first quarter, bringing its holdings to 48,429 shares worth approximately $3.84 million. Institutional investors collectively own 99.51% of CWST.
• CWST shares opened at $90.04, near their 50-day and 200-day moving averages, with a market capitalization of $5.73 billion and a 12-month trading range of $74.05 to $107.96.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $110.12 price target, although CEO Edmond Coletta and Director Michael K. Burke recently sold shares.

First Trust Advisors LP boosted its position in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 1,166.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,429 shares of the industrial products company's stock after acquiring an additional 44,604 shares during the period. First Trust Advisors LP owned 0.08% of Casella Waste Systems worth $3,842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pictet Asset Management Holding SA grew its stake in Casella Waste Systems by 10,865.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 990,651 shares of the industrial products company's stock worth $97,040,000 after purchasing an additional 981,617 shares during the period. State Street Corp grew its stake in shares of Casella Waste Systems by 60.7% during the 4th quarter. State Street Corp now owns 2,306,780 shares of the industrial products company's stock valued at $225,926,000 after purchasing an additional 871,761 shares during the period. Alliancebernstein L.P. increased its holdings in Casella Waste Systems by 1,106.7% during the second quarter. Alliancebernstein L.P. now owns 867,285 shares of the industrial products company's stock valued at $100,067,000 after buying an additional 795,414 shares during the last quarter. UBS Group AG raised its holdings in Casella Waste Systems by 653.2% in the 4th quarter. UBS Group AG now owns 841,897 shares of the industrial products company's stock worth $82,455,000 after purchasing an additional 730,128 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Casella Waste Systems by 9.7% during 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 buying an additional 581,310 shares in the last quarter. Institutional investors own 99.51% of the company's stock.

Casella Waste Systems Price Performance

Shares of Casella Waste Systems stock opened at $90.04 on Thursday. The business has a 50 day simple moving average of $90.92 and a two-hundred day simple moving average of $90.64. 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 capitalization of $5.73 billion, a P/E ratio of 818.62 and a beta of 0.74. Casella Waste Systems, Inc. has a 12 month low of $74.05 and a 12 month high of $107.96.

Analyst Ratings Changes

A number of research firms have recently weighed in on CWST. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Casella Waste Systems in a research note on Friday, May 22nd. UBS Group decreased their price target 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. Barclays raised shares of Casella Waste Systems from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $101.00 to $102.00 in a research note on Monday, May 4th. TD Cowen reaffirmed a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 5th. Finally, Zacks Research upgraded shares of Casella Waste Systems from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 8th. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Casella Waste Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.12.

Insiders Place Their Bets

In other news, Director Michael K. Burke sold 2,305 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total value of $201,825.80. Following the transaction, the director owned 14,048 shares of the company's stock, valued at $1,230,042.88. This represents a 14.10% decrease in their position. 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 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 transaction, the chief executive officer directly owned 140,118 shares of the company's stock, valued at $12,548,968.08. The trade was a 8.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.78% of the stock is owned by insiders.

About Casella Waste Systems

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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