Illinois Municipal Retirement Fund Makes New Investment in Casella Waste Systems, Inc. $CWST

Key Points

• Illinois Municipal Retirement Fund opened a new position in Casella Waste Systems in Q1, buying 33,502 shares valued at about $2.66 million. The fund’s stake represented roughly 0.05% of the company.
• Casella Waste Systems reported better-than-expected quarterly earnings, with EPS of $0.20 versus a $0.10 consensus estimate and revenue of $457.33 million, up 9.6% year over year.
• Analysts remain generally positive on CWST, with a Moderate Buy consensus and average price target of $110.12, even as insider selling occurred from both the CEO and a director in recent weeks.

Illinois Municipal Retirement Fund acquired a new position in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 33,502 shares of the industrial products company's stock, valued at approximately $2,658,000. Illinois Municipal Retirement Fund owned about 0.05% of Casella Waste Systems as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Hilton Head Capital Partners LLC purchased a new position in Casella Waste Systems in the 4th quarter worth $25,000. Geneos Wealth Management Inc. boosted 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 buying an additional 184 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Casella Waste Systems during the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its stake in shares of 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 buying an additional 98 shares during the last quarter. Finally, SHP Wealth Management purchased a new position in shares of Casella Waste Systems in the fourth quarter worth about $43,000. Institutional investors own 99.51% of the company's stock.

Casella Waste Systems Stock Performance

Shares of NASDAQ:CWST opened at $95.70 on Monday. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 870.08 and a beta of 0.74. The company has a 50-day moving average price of $89.80 and a 200-day moving average price of $91.54. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.72. Casella Waste Systems, Inc. has a 12 month low of $74.05 and a 12 month high of $111.48.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last posted its 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. Casella Waste Systems had a return on equity of 5.19% and a net margin of 0.38%.The company had revenue of $457.33 million for the quarter, compared to analysts' expectations of $454.49 million. During the same period last year, the firm earned $0.19 earnings per share. Casella Waste Systems's quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities analysts anticipate that Casella Waste Systems, Inc. will post 1.06 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on CWST. Barclays raised Casella Waste Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $101.00 to $102.00 in a research note on Monday, May 4th. UBS Group reduced their price target on Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating on the stock in a research report on Friday, June 26th. TD Cowen reaffirmed a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 5th. Zacks Research raised Casella Waste Systems from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Casella Waste Systems in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $110.12.

Insider Activity at Casella Waste Systems

In other news, Director Michael K. Burke sold 2,305 shares of Casella Waste Systems stock in a transaction that occurred 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 sale, the director directly owned 14,048 shares in the company, valued at approximately $1,230,042.88. This trade represents a 14.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edmond Coletta sold 12,500 shares of the business's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total value of $1,119,500.00. Following the transaction, the chief executive officer directly owned 140,118 shares in the company, valued at $12,548,968.08. This trade represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 3.78% of the company's stock.

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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