Maven Securities LTD Reduces Position in Casella Waste Systems, Inc. $CWST

Key Points

• Maven Securities cut its Casella Waste Systems position by 54.6% in the second quarter, selling 38,243 shares and retaining 31,835 shares valued at approximately $3.1 million. Institutional investors collectively own 99.51% of the company.
• Casella exceeded quarterly expectations, reporting earnings of $0.40 per share versus the $0.36 consensus and revenue of $543.75 million versus $526.43 million expected. Revenue increased 16.9% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $109.75, compared with its reported opening price of $92.07.

Maven Securities LTD decreased its position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 54.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,835 shares of the industrial products company's stock after selling 38,243 shares during the period. Maven Securities LTD owned 0.05% of Casella Waste Systems worth $3,087,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Riverbridge Partners LLC purchased a new position in Casella Waste Systems during the 1st quarter worth $13,742,000. Legal & General Group Plc raised its holdings in shares of Casella Waste Systems by 134.4% in the fourth quarter. Legal & General Group Plc now owns 157,552 shares of the industrial products company's stock valued at $15,431,000 after buying an additional 90,340 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Casella Waste Systems by 1,019.4% during the fourth quarter. Allworth Financial LP now owns 14,832 shares of the industrial products company's stock worth $1,453,000 after buying an additional 13,507 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Casella Waste Systems by 17.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 124,356 shares of the industrial products company's stock worth $12,179,000 after buying an additional 18,671 shares during the period. Finally, Norges Bank purchased a new position in shares of Casella Waste Systems during the fourth quarter worth about $39,343,000. Hedge funds and other institutional investors own 99.51% of the company's stock.

Casella Waste Systems Price Performance

Shares of CWST opened at $92.07 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.84. The stock's 50 day moving average is $93.09 and its two-hundred day moving average is $88.59. Casella Waste Systems, Inc. has a twelve month low of $74.05 and a twelve month high of $107.96. The firm has a market capitalization of $5.86 billion, a PE ratio of 1,023.11 and a beta of 0.74.

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

Insiders Place Their Bets

In other Casella Waste Systems news, Director Michael K. Burke sold 1,100 shares of the business's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $95.26, for a total transaction of $104,786.00. Following the sale, the director directly owned 13,641 shares in the company, valued at approximately $1,299,441.66. The trade was a 7.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas R. Casella sold 15,157 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $91.05, for a total transaction of $1,380,044.85. Following the transaction, the director directly owned 91,484 shares in the company, valued at approximately $8,329,618.20. This trade represents a 14.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,700 shares of company stock worth $1,709,494 in the last ninety days. 3.78% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CWST shares. UBS Group decreased their price objective on 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 target price on Casella Waste Systems from $110.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday, August 10th. Barclays upped their price target on Casella Waste Systems from $102.00 to $104.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. Weiss Ratings raised Casella Waste Systems from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, August 14th. Finally, Zacks Research upgraded shares of Casella Waste Systems from a "strong sell" rating to a "hold" rating in a research report 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 given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $109.75.

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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