J. Safra Sarasin Holding AG Increases Stake in Casella Waste Systems, Inc. $CWST

Key Points

• J. Safra Sarasin Holding AG increased its stake in Casella Waste Systems by 30.3% in the first quarter, bringing its holdings to 74,219 shares valued at about $5.87 million.
• Insiders sold shares recently, with Director Michael K. Burke and CEO Edmond Coletta both reducing their positions in May through transactions worth about $201,826 and $1.12 million, respectively.
• Casella Waste Systems reported better-than-expected quarterly results, posting EPS of $0.20 versus the $0.10 estimate and revenue of $457.33 million, while analysts currently rate the stock a Moderate Buy with an average target price of $110.12.

J. Safra Sarasin Holding AG raised its position in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 30.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,219 shares of the industrial products company's stock after purchasing an additional 17,241 shares during the quarter. J. Safra Sarasin Holding AG owned 0.12% of Casella Waste Systems worth $5,874,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Hilton Head Capital Partners LLC bought a new position in shares of Casella Waste Systems during the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its stake in shares of Casella Waste Systems by 301.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company's stock worth $27,000 after acquiring an additional 184 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Casella Waste Systems during the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC boosted its holdings in Casella Waste Systems by 41.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 98 shares during the period. Finally, SHP Wealth Management bought a new position in Casella Waste Systems in the 4th quarter valued at $43,000. Institutional investors own 99.51% of the company's stock.

Insiders Place Their Bets

In related news, Director Michael K. Burke sold 2,305 shares of the business's stock in a transaction that occurred 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 owned 14,048 shares in the company, valued at $1,230,042.88. The trade was a 14.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Edmond Coletta sold 12,500 shares of the company's stock in a transaction on Tuesday, May 19th. The stock was 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 approximately $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.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. TD Cowen restated a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 5th. UBS Group dropped their price objective on Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating on the stock in a research note on Friday, June 26th. Zacks Research upgraded Casella Waste Systems from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 8th. Barclays raised Casella Waste Systems from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $101.00 to $102.00 in a research report on Monday, May 4th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Casella Waste Systems in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Casella Waste Systems currently has an average rating of "Moderate Buy" and an average target price of $110.12.

Casella Waste Systems Trading Up 1.3%

NASDAQ:CWST opened at $98.09 on Tuesday. The firm has a 50-day simple moving average of $88.88 and a 200-day simple moving average of $91.65. Casella Waste Systems, Inc. has a one year low of $74.05 and a one year high of $112.88. The firm has a market cap of $6.24 billion, a P/E ratio of 891.81 and a beta of 0.74. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.38 and a current ratio of 1.38.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.10. The firm had revenue of $457.33 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $0.19 earnings per share. Equities analysts anticipate that Casella Waste Systems, Inc. will post 1.12 EPS for the current fiscal 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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