Fred Alger Management LLC Lowers Stock Position in Casella Waste Systems, Inc. (NASDAQ:CWST)

Fred Alger Management LLC lessened its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 23.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 813,403 shares of the industrial products company's stock after selling 255,149 shares during the period. Fred Alger Management LLC owned 1.28% of Casella Waste Systems worth $86,066,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CWST. Mather Group LLC. boosted its holdings in shares of Casella Waste Systems by 1,606.7% during the 4th quarter. Mather Group LLC. now owns 256 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 241 shares in the last quarter. Covestor Ltd increased its position in Casella Waste Systems by 124.4% in the 4th quarter. Covestor Ltd now owns 276 shares of the industrial products company's stock valued at $29,000 after buying an additional 153 shares in the last quarter. Quarry LP bought a new stake in Casella Waste Systems in the 4th quarter valued at about $30,000. Jones Financial Companies Lllp boosted its stake in Casella Waste Systems by 156.5% during the 4th quarter. Jones Financial Companies Lllp now owns 318 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 194 shares during the last quarter. Finally, Huntington National Bank boosted its stake in Casella Waste Systems by 171.6% during the 4th quarter. Huntington National Bank now owns 364 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 230 shares during the last quarter. Institutional investors and hedge funds own 99.51% of the company's stock.

Casella Waste Systems Price Performance

Shares of NASDAQ:CWST traded down $0.18 during mid-day trading on Tuesday, reaching $113.06. The stock had a trading volume of 309,530 shares, compared to its average volume of 371,279. The business's 50 day moving average price is $112.87 and its 200 day moving average price is $109.95. The company has a current ratio of 2.00, a quick ratio of 2.48 and a debt-to-equity ratio of 0.70. Casella Waste Systems, Inc. has a 1 year low of $91.01 and a 1 year high of $121.24. The company has a market cap of $7.16 billion, a P/E ratio of 491.57, a price-to-earnings-growth ratio of 3.86 and a beta of 0.89.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.08. The firm had revenue of $417.10 million for the quarter, compared to analysts' expectations of $403.64 million. Casella Waste Systems had a return on equity of 4.15% and a net margin of 0.87%. The company's quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Research analysts expect that Casella Waste Systems, Inc. will post 1.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Edmond Coletta sold 5,562 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $119.18, for a total transaction of $662,879.16. Following the completion of the sale, the president now owns 150,093 shares in the company, valued at approximately $17,888,083.74. This represents a 3.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Paul Ligon sold 2,000 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $118.67, for a total value of $237,340.00. Following the completion of the transaction, the senior vice president now owns 20,347 shares of the company's stock, valued at $2,414,578.49. This trade represents a 8.95% decrease in their position. The disclosure for this sale can be found here. 4.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CWST shares. Stifel Nicolaus raised their price target on Casella Waste Systems from $127.00 to $129.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. TD Cowen initiated coverage on Casella Waste Systems in a research report on Wednesday, April 9th. They set a "buy" rating and a $130.00 price objective for the company. Jefferies Financial Group downgraded Casella Waste Systems from a "buy" rating to a "hold" rating and cut their target price for the company from $115.00 to $113.00 in a research note on Thursday, January 23rd. William Blair restated an "outperform" rating on shares of Casella Waste Systems in a research note on Friday, February 14th. Finally, Raymond James reissued a "strong-buy" rating on shares of Casella Waste Systems in a report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Casella Waste Systems has an average rating of "Moderate Buy" and an average target price of $122.67.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.