Capital Research Global Investors Purchases 477,216 Shares of Casella Waste Systems, Inc. $CWST

Capital Research Global Investors increased its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 23.7% during the 4th quarter, Holdings Channel reports. The fund owned 2,488,034 shares of the industrial products company’s stock after acquiring an additional 477,216 shares during the period. Capital Research Global Investors’ holdings in Casella Waste Systems were worth $243,678,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its stake in shares of Casella Waste Systems by 180.2% in the third quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company’s stock valued at $27,000 after buying an additional 191 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Casella Waste Systems by 301.6% in the first quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock valued at $27,000 after buying an additional 184 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Casella Waste Systems in the fourth quarter valued at $27,000. EverSource Wealth Advisors LLC lifted its stake in shares of Casella Waste Systems by 41.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company’s stock valued at $33,000 after buying an additional 98 shares in the last quarter. Finally, Optiver Holding B.V. lifted its stake in shares of Casella Waste Systems by 280.0% in the third quarter. Optiver Holding B.V. now owns 399 shares of the industrial products company’s stock valued at $38,000 after buying an additional 294 shares in the last quarter. 99.51% of the stock is owned by institutional investors.

Insider Activity at Casella Waste Systems

In related news, Director Michael K. Burke sold 2,305 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were 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 trade represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Bradford John Helgeson sold 405 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $87.73, for a total transaction of $35,530.65. Following the sale, the chief financial officer owned 7,342 shares of the company’s stock, valued at $644,113.66. This trade represents a 5.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 19,422 shares of company stock worth $1,729,647. 3.78% of the stock is currently owned by corporate insiders.

Casella Waste Systems Stock Performance

Shares of CWST stock opened at $85.90 on Monday. The firm has a 50-day moving average of $83.54 and a 200-day moving average of $92.55. The company has a market cap of $5.46 billion, a P/E ratio of 780.98 and a beta of 0.77. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 1.38. Casella Waste Systems, Inc. has a one year low of $74.05 and a one year high of $118.91.

Casella Waste Systems (NASDAQ:CWST) last announced 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 company had revenue of $457.33 million during the quarter, compared to the consensus estimate of $454.49 million. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.19 earnings per share. Equities research analysts forecast that Casella Waste Systems, Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CWST shares. Barclays raised shares of Casella Waste Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $101.00 to $102.00 in a research note on Monday, May 4th. TD Cowen reiterated a “buy” rating on shares of Casella Waste Systems in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Casella Waste Systems from $112.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Raymond James Financial reiterated a “strong-buy” rating and issued a $115.00 target price on shares of Casella Waste Systems in a report on Monday, February 23rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Casella Waste Systems in a report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.13.

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.