Truist Financial Corp Trims Stock Position in Casella Waste Systems, Inc. (NASDAQ:CWST)

Truist Financial Corp trimmed its position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 42.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 94,951 shares of the industrial products company's stock after selling 69,857 shares during the quarter. Truist Financial Corp owned approximately 0.16% of Casella Waste Systems worth $8,114,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CWST. Impax Asset Management Group plc purchased a new position in Casella Waste Systems during the 4th quarter valued at about $5,128,000. WCM Investment Management LLC lifted its holdings in shares of Casella Waste Systems by 8.7% during the fourth quarter. WCM Investment Management LLC now owns 227,195 shares of the industrial products company's stock valued at $19,543,000 after purchasing an additional 18,216 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in shares of Casella Waste Systems by 18.5% in the 3rd quarter. TimesSquare Capital Management LLC now owns 946,497 shares of the industrial products company's stock worth $72,218,000 after purchasing an additional 147,805 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Casella Waste Systems by 9.0% in the 4th quarter. Jennison Associates LLC now owns 405,230 shares of the industrial products company's stock worth $34,631,000 after buying an additional 33,528 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Casella Waste Systems during the 3rd quarter valued at approximately $1,705,000. 99.51% of the stock is owned by institutional investors.

Casella Waste Systems Stock Up 0.1 %

Shares of CWST stock traded up $0.07 during mid-day trading on Friday, hitting $91.62. The company's stock had a trading volume of 232,339 shares, compared to its average volume of 256,572. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 295.55, a PEG ratio of 5.79 and a beta of 0.92. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.46 and a current ratio of 1.58. Casella Waste Systems, Inc. has a 52-week low of $72.97 and a 52-week high of $100.29. The business has a 50-day moving average price of $94.32 and a 200 day moving average price of $87.24.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last released its quarterly earnings data on Friday, April 26th. The industrial products company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The company had revenue of $341.00 million during the quarter, compared to the consensus estimate of $340.70 million. Casella Waste Systems had a return on equity of 4.47% and a net margin of 1.32%. Casella Waste Systems's revenue for the quarter was up 29.9% on a year-over-year basis. During the same period last year, the company earned $0.10 EPS. Research analysts predict that Casella Waste Systems, Inc. will post 0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on CWST. Wells Fargo & Company boosted their target price on Casella Waste Systems from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, February 20th. StockNews.com raised shares of Casella Waste Systems from a "sell" rating to a "hold" rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Casella Waste Systems presently has an average rating of "Buy" and an average target price of $101.50.

Insider Activity

In other Casella Waste Systems news, President Edmond Coletta sold 8,271 shares of Casella Waste Systems stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $90.30, for a total value of $746,871.30. Following the completion of the sale, the president now owns 168,556 shares of the company's stock, valued at approximately $15,220,606.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Casella Waste Systems news, CEO John W. Casella sold 1,673 shares of the business's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $94.13, for a total transaction of $157,479.49. Following the completion of the sale, the chief executive officer now directly owns 35,189 shares in the company, valued at approximately $3,312,340.57. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Edmond Coletta sold 8,271 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $90.30, for a total transaction of $746,871.30. Following the completion of the transaction, the president now owns 168,556 shares in the company, valued at approximately $15,220,606.80. The disclosure for this sale can be found here. Insiders sold 11,238 shares of company stock valued at $1,026,395 over the last three months. Insiders own 4.24% of the company's stock.

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.