Congruence Capital LLC Invests $16.77 Million in Casella Waste Systems, Inc. $CWST

Congruence Capital LLC bought a new position in Casella Waste Systems, Inc. (NASDAQ:CWST) during the fourth quarter, Holdings Channel reports. The fund bought 171,186 shares of the industrial products company’s stock, valued at approximately $16,766,000. Casella Waste Systems makes up 6.2% of Congruence Capital LLC’s portfolio, making the stock its 6th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CWST. Geneos Wealth Management Inc. boosted its stake in Casella Waste Systems by 301.6% in the 1st 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 in the last quarter. Hilton Head Capital Partners LLC bought a new position in Casella Waste Systems in the 4th quarter worth about $25,000. Los Angeles Capital Management LLC bought a new position in Casella Waste Systems in the 4th quarter worth about $27,000. EverSource Wealth Advisors LLC boosted its stake in Casella Waste Systems by 235.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 200 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Casella Waste Systems by 180.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 191 shares in the last quarter. 99.51% of the stock is owned by hedge funds and other institutional investors.

Casella Waste Systems Price Performance

CWST opened at $89.37 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $5.68 billion, a P/E ratio of 812.53 and a beta of 0.77. The company’s 50-day simple moving average is $84.57 and its two-hundred day simple moving average is $92.40. Casella Waste Systems, Inc. has a 52-week low of $74.05 and a 52-week high of $118.91.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Zacks Research cut shares of Casella Waste Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. JPMorgan Chase & Co. dropped their price target on shares of Casella Waste Systems from $112.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Casella Waste Systems in a research note on Friday, May 22nd. Raymond James Financial reiterated a “strong-buy” rating and issued a $115.00 price target on shares of Casella Waste Systems in a research note on Monday, February 23rd. Finally, TD Cowen reiterated a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Casella Waste Systems currently has an average rating of “Moderate Buy” and an average target price of $111.13.

Insider Activity at Casella Waste Systems

In other Casella Waste Systems news, Director Michael K. Burke sold 2,305 shares of the company’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 transaction, the director owned 14,048 shares in the company, valued at approximately $1,230,042.88. This represents a 14.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bradford John Helgeson sold 405 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $87.73, for a total transaction of $35,530.65. Following the transaction, the chief financial officer owned 7,342 shares in the company, valued at $644,113.66. This represents a 5.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,027 shares of company stock worth $1,604,141 over the last quarter. 3.78% of the stock is currently owned by insiders.

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.