Granahan Investment Management LLC Sells 56,629 Shares of Casella Waste Systems, Inc. $CWST

Key Points

• Granahan Investment Management cut its stake in Casella Waste Systems by 18% in the fourth quarter, selling 56,629 shares and leaving it with 257,715 shares worth about $25.2 million.
• Several analysts remain positive on CWST, with the stock carrying a consensus rating of “Moderate Buy” and an average price target of $111.13, even after some firms adjusted targets or ratings.
• Recent insider selling included Director Michael K. Burke and CEO Edmond Coletta, while the company also reported quarterly EPS of $0.20, beating estimates and posting 9.6% revenue growth year over year.

Granahan Investment Management LLC decreased its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 18.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 257,715 shares of the industrial products company's stock after selling 56,629 shares during the period. Casella Waste Systems comprises 1.1% of Granahan Investment Management LLC's portfolio, making the stock its 27th largest holding. Granahan Investment Management LLC owned about 0.41% of Casella Waste Systems worth $25,241,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC bought a new position in Casella Waste Systems during the fourth quarter valued at approximately $25,000. Smartleaf Asset Management LLC lifted its position in Casella Waste Systems by 180.2% during the third quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 191 shares during the period. Geneos Wealth Management Inc. lifted 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 purchasing an additional 184 shares during the period. Los Angeles Capital Management LLC bought a new position in Casella Waste Systems during the fourth quarter valued at approximately $27,000. Finally, EverSource Wealth Advisors LLC lifted its position in Casella Waste Systems by 41.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 98 shares during the period. Institutional investors own 99.51% of the company's stock.

Analysts Set New Price Targets

CWST has been the topic of a number of research analyst reports. Weiss Ratings restated a "sell (d)" rating on shares of Casella Waste Systems in a research report on Friday, May 22nd. Raymond James Financial restated a "strong-buy" rating and set a $115.00 price objective on shares of Casella Waste Systems in a research report on Monday, February 23rd. TD Cowen restated a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 5th. UBS Group lowered their price objective on shares of Casella Waste Systems from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, March 10th. Finally, Barclays upgraded shares of Casella Waste Systems from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $101.00 to $102.00 in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Casella Waste Systems has a consensus rating of "Moderate Buy" and an average target price of $111.13.

Insiders Place Their Bets

In related news, Director Michael K. Burke sold 2,305 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total transaction of $201,825.80. Following the completion of the transaction, the director directly owned 14,048 shares of the company's stock, valued at approximately $1,230,042.88. This trade represents a 14.10% decrease in their ownership of the stock. 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 firm's stock in a transaction on Tuesday, May 19th. The shares were 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.78% of the company's stock.

Casella Waste Systems Stock Down 1.6%

CWST opened at $86.65 on Wednesday. The firm's 50 day simple moving average is $84.58 and its two-hundred day simple moving average is $92.25. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $5.51 billion, a PE ratio of 787.80 and a beta of 0.77. Casella Waste Systems, Inc. has a 1-year low of $74.05 and a 1-year high of $118.42.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.10. The firm had revenue of $457.33 million during the quarter, compared to analysts' expectations of $454.49 million. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 earnings per share. As a group, equities analysts forecast that Casella Waste Systems, Inc. will post 1.12 EPS for the current year.

Casella Waste Systems 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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