Moody National Bank Trust Division Invests $1.47 Million in Casella Waste Systems, Inc. $CWST

Key Points

• Moody National Bank Trust Division purchased 15,194 shares of Casella Waste Systems worth approximately $1.47 million during the second quarter.
• Institutional investors own 99.51% of CWST, with major firms including Vanguard and UBS increasing their positions. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $110.12.
• CWST shares opened at $90.04, down 1.6%, while company insiders recently sold shares, including transactions by the CEO and a director.

Moody National Bank Trust Division purchased a new stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,194 shares of the industrial products company's stock, valued at approximately $1,473,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Casella Waste Systems by 9.7% during the fourth quarter. Vanguard Group Inc. now owns 6,574,893 shares of the industrial products company's stock worth $643,945,000 after purchasing an additional 581,310 shares during the period. Riverbridge Partners LLC purchased a new position in Casella Waste Systems during the first quarter valued at approximately $13,742,000. Yousif Capital Management LLC acquired a new position in Casella Waste Systems in the 4th quarter valued at approximately $1,784,000. UBS Group AG increased its stake 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 valued at $82,455,000 after buying an additional 730,128 shares during the period. Finally, Kornitzer Capital Management Inc. KS purchased a new stake in Casella Waste Systems in the 4th quarter worth approximately $4,246,000. Institutional investors and hedge funds own 99.51% of the company's stock.

Wall Street Analyst Weigh In

CWST has been the subject of a number of research reports. Weiss Ratings reissued a "sell (d)" rating on shares of Casella Waste Systems in a research note on Friday, May 22nd. Zacks Research raised shares of Casella Waste Systems from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 8th. Barclays upgraded Casella Waste Systems from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $101.00 to $102.00 in a report on Monday, May 4th. TD Cowen reissued a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 5th. Finally, UBS Group lowered their target price 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. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $110.12.

Casella Waste Systems Trading Down 1.6%

Shares of NASDAQ:CWST opened at $90.04 on Thursday. The stock has a market capitalization of $5.73 billion, a PE ratio of 818.62 and a beta of 0.74. Casella Waste Systems, Inc. has a 1 year low of $74.05 and a 1 year high of $107.96. The firm has a fifty day moving average price of $90.92 and a 200 day moving average price of $90.64. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.72.

Insider Activity

In other news, Director Michael K. Burke sold 2,305 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total transaction of $201,825.80. Following the completion of the sale, the director owned 14,048 shares in the company, valued at approximately $1,230,042.88. This represents a 14.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Edmond Coletta sold 12,500 shares of the business's stock in a transaction 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 approximately $12,548,968.08. This represents a 8.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate 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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