Granahan Investment Management LLC Has $39.40 Million Stake in Casella Waste Systems, Inc. (NASDAQ:CWST)

Granahan Investment Management LLC reduced its position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 4.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 372,321 shares of the industrial products company's stock after selling 19,124 shares during the period. Casella Waste Systems comprises about 1.6% of Granahan Investment Management LLC's investment portfolio, making the stock its 16th biggest position. Granahan Investment Management LLC owned 0.59% of Casella Waste Systems worth $39,395,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CWST. Barclays PLC boosted its stake in Casella Waste Systems by 29.0% in the third quarter. Barclays PLC now owns 131,906 shares of the industrial products company's stock valued at $13,122,000 after acquiring an additional 29,686 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Casella Waste Systems by 87.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 78,549 shares of the industrial products company's stock worth $7,815,000 after buying an additional 36,573 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Casella Waste Systems by 3.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 68,095 shares of the industrial products company's stock worth $7,205,000 after acquiring an additional 1,966 shares during the period. Eagle Bay Advisors LLC acquired a new position in Casella Waste Systems in the 4th quarter valued at about $58,000. Finally, Moody National Bank Trust Division increased its stake in shares of Casella Waste Systems by 26.0% during the fourth quarter. Moody National Bank Trust Division now owns 8,476 shares of the industrial products company's stock worth $897,000 after purchasing an additional 1,748 shares during the period. Institutional investors and hedge funds own 99.51% of the company's stock.

Insiders Place Their Bets

In related news, President Edmond Coletta sold 5,562 shares of Casella Waste Systems stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $119.18, for a total value 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 trade represents a 3.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul Ligon sold 2,000 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $118.67, for a total transaction of $237,340.00. Following the completion of the sale, the senior vice president now directly owns 20,347 shares of the company's stock, valued at approximately $2,414,578.49. This trade represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CWST has been the topic of several analyst reports. Jefferies Financial Group lowered shares of Casella Waste Systems from a "buy" rating to a "hold" rating and reduced their price target for the stock from $115.00 to $113.00 in a research report on Thursday, January 23rd. Stifel Nicolaus upped their target price on Casella Waste Systems from $127.00 to $129.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. UBS Group increased their target price on shares of Casella Waste Systems from $130.00 to $135.00 and gave the company a "buy" rating in a report on Friday, April 11th. Raymond James reaffirmed a "strong-buy" rating on shares of Casella Waste Systems in a report on Wednesday, April 16th. Finally, William Blair reissued an "outperform" rating on shares of Casella Waste Systems in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $122.67.

Casella Waste Systems Stock Down 0.9%

Shares of CWST traded down $1.01 on Tuesday, reaching $112.23. The stock had a trading volume of 712,224 shares, compared to its average volume of 373,226. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 487.96, a price-to-earnings-growth ratio of 3.86 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.48 and a current ratio of 2.00. The company has a 50-day simple moving average of $112.92 and a 200-day simple moving average of $109.97. Casella Waste Systems, Inc. has a 12-month low of $91.01 and a 12-month high of $121.24.

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. Casella Waste Systems had a return on equity of 4.15% and a net margin of 0.87%. The company had revenue of $417.10 million during the quarter, compared to analysts' expectations of $403.64 million. During the same quarter last year, the business posted $0.15 EPS. The firm's revenue for the quarter was up 22.3% compared to the same quarter last year. Sell-side analysts predict that Casella Waste Systems, Inc. will post 1.16 EPS for the current year.

Casella Waste Systems 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.