Riverbridge Partners LLC Purchases Shares of 173,205 Casella Waste Systems, Inc. $CWST

Riverbridge Partners LLC acquired a new position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) in the 1st quarter, Holdings Channel reports. The fund acquired 173,205 shares of the industrial products company’s stock, valued at approximately $13,742,000.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in Casella Waste Systems by 57.7% during the 1st quarter. AQR Capital Management LLC now owns 9,283 shares of the industrial products company’s stock valued at $1,035,000 after purchasing an additional 3,395 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Casella Waste Systems by 1,601.9% in the first quarter. Jones Financial Companies Lllp now owns 5,412 shares of the industrial products company’s stock worth $603,000 after purchasing an additional 5,094 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Casella Waste Systems by 3,226.1% in the first quarter. Jane Street Group LLC now owns 69,849 shares of the industrial products company’s stock worth $7,789,000 after purchasing an additional 67,749 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Casella Waste Systems by 301.6% during the first quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 184 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Casella Waste Systems during the second quarter worth about $63,000. 99.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Casella Waste Systems

In other news, Director Michael K. Burke sold 2,305 shares of Casella Waste Systems stock in a transaction that occurred on 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 transaction, the director directly owned 14,048 shares of the company’s stock, valued at $1,230,042.88. The trade was a 14.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edmond Coletta sold 12,500 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total transaction of $1,119,500.00. Following the completion of the transaction, the chief executive officer owned 140,118 shares of the company’s stock, valued at approximately $12,548,968.08. This represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.78% of the stock is owned by insiders.

Casella Waste Systems Stock Up 1.9%

Casella Waste Systems stock opened at $86.18 on Wednesday. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 783.53 and a beta of 0.77. Casella Waste Systems, Inc. has a 52 week low of $74.05 and a 52 week high of $118.42. The business’s 50-day moving average price is $84.55 and its 200 day moving average price is $91.90. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.72.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.10. Casella Waste Systems had a return on equity of 5.19% and a net margin of 0.38%.The company had revenue of $457.33 million during the quarter, compared to analysts’ expectations of $454.49 million. During the same period last year, the business earned $0.19 earnings per share. Casella Waste Systems’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Casella Waste Systems, Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CWST. TD Cowen reiterated a “buy” rating on shares of Casella Waste Systems in a report on Friday, June 5th. Barclays upgraded shares of Casella Waste Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $101.00 to $102.00 in a research note on Monday, May 4th. UBS Group dropped their price objective on shares of Casella Waste Systems from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Zacks Research lowered shares of Casella Waste Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Casella Waste Systems in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $111.12.

Casella Waste Systems Company 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.