Roubaix Capital LLC Takes Position in Casella Waste Systems, Inc. $CWST

Key Points

• Roubaix Capital opened a new position in Casella Waste Systems, buying 62,772 shares worth about $5.0 million. The stake represents about 0.10% of the company and 2.3% of Roubaix’s portfolio.
• 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, up 9.6% year over year. Analysts still expect full-year EPS of 1.06.
• Insiders have been selling shares recently, including CEO Edmond Coletta and Director Michael K. Burke. Despite that, analysts remain broadly positive, with a Moderate Buy consensus and an average price target of $110.12.

Roubaix Capital LLC acquired a new stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 62,772 shares of the industrial products company's stock, valued at approximately $4,980,000. Casella Waste Systems makes up 2.3% of Roubaix Capital LLC's investment portfolio, making the stock its 22nd biggest position. Roubaix Capital LLC owned about 0.10% of Casella Waste Systems at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CWST. Vanguard Group Inc. raised its position in shares of Casella Waste Systems by 9.7% during the 4th quarter. Vanguard Group Inc. now owns 6,574,893 shares of the industrial products company's stock worth $643,945,000 after buying an additional 581,310 shares in the last quarter. Aberdeen Group plc boosted its holdings in shares of Casella Waste Systems by 79.2% in the fourth quarter. Aberdeen Group plc now owns 186,992 shares of the industrial products company's stock valued at $18,314,000 after acquiring an additional 82,616 shares in the last quarter. Riverbridge Partners LLC bought a new position in shares of Casella Waste Systems in the first quarter valued at approximately $13,742,000. Yousif Capital Management LLC acquired a new position in shares of Casella Waste Systems during the fourth quarter valued at approximately $1,784,000. Finally, SG Americas Securities LLC increased its stake in shares of Casella Waste Systems by 103.4% during the fourth quarter. SG Americas Securities LLC now owns 24,268 shares of the industrial products company's stock valued at $2,377,000 after acquiring an additional 12,334 shares during the period. Institutional investors and hedge funds own 99.51% of the company's stock.

Casella Waste Systems Stock Performance

Shares of CWST opened at $95.70 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 1.38. The firm's 50 day moving average is $89.80 and its 200-day moving average is $91.61. Casella Waste Systems, Inc. has a 12-month low of $74.05 and a 12-month high of $111.48. The stock has a market capitalization of $6.09 billion, a P/E ratio of 870.08 and a beta of 0.74.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.10 by $0.10. The business had revenue of $457.33 million during the quarter, compared to analyst estimates of $454.49 million. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The business's quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 earnings per share. Equities research analysts anticipate that Casella Waste Systems, Inc. will post 1.06 EPS for the current fiscal year.

Insider Buying and Selling at Casella Waste Systems

In other news, CEO Edmond Coletta sold 12,500 shares of the 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 completion of the sale, the chief executive officer owned 140,118 shares in the company, valued at approximately $12,548,968.08. This represents a 8.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael K. Burke sold 2,305 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $1,230,042.88. This represents a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.78% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CWST has been the topic of several recent analyst reports. Barclays raised Casella Waste Systems from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $101.00 to $102.00 in a report on Monday, May 4th. TD Cowen reiterated a "buy" rating on shares of Casella Waste Systems in a research report on Friday, June 5th. Weiss Ratings reiterated a "sell (d)" rating on shares of Casella Waste Systems in a research report on Friday, May 22nd. Zacks Research raised Casella Waste Systems from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 8th. Finally, UBS Group cut their price objective on Casella Waste Systems from $130.00 to $122.00 and set a "buy" rating for the company in a report on Friday, June 26th. One investment 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $110.12.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.