Lazard Asset Management LLC Has $6.59 Million Stock Holdings in Casella Waste Systems, Inc. $CWST

Lazard Asset Management LLC increased its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 8.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,079 shares of the industrial products company’s stock after buying an additional 6,132 shares during the period. Lazard Asset Management LLC’s holdings in Casella Waste Systems were worth $6,591,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CWST. Hilton Head Capital Partners LLC bought a new position in shares of Casella Waste Systems in the fourth quarter worth about $25,000. Geneos Wealth Management Inc. grew its stake 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 valued at $27,000 after purchasing an additional 184 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Casella Waste Systems during the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC increased its holdings 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 purchasing an additional 98 shares in the last quarter. Finally, SHP Wealth Management acquired a new stake in shares of Casella Waste Systems in the fourth quarter valued at approximately $43,000. Institutional investors own 99.51% of the company’s stock.

Insider Transactions at Casella Waste Systems

In related news, Director Michael K. Burke sold 2,305 shares of the business’s 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 owned 14,048 shares in the company, valued at approximately $1,230,042.88. The trade was a 14.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edmond Coletta sold 12,500 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 140,118 shares of the company’s stock, valued at $12,548,968.08. The trade was a 8.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.78% of the company’s stock.

Analyst Upgrades and Downgrades

CWST has been the subject of several research analyst reports. TD Cowen restated a “buy” rating on shares of Casella Waste Systems in a research report on Friday, June 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Casella Waste Systems in a research note on Friday, May 22nd. Zacks Research raised Casella Waste Systems from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 8th. Barclays upgraded Casella Waste Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $101.00 to $102.00 in a research report on Monday, May 4th. Finally, UBS Group dropped their price objective on Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating for the company in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.12.

Casella Waste Systems Trading Down 1.1%

NASDAQ CWST opened at $89.50 on Friday. Casella Waste Systems, Inc. has a 12 month low of $74.05 and a 12 month high of $109.46. The stock has a 50-day simple moving average of $90.62 and a 200 day simple moving average of $90.95. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $5.69 billion, a PE ratio of 813.71 and a beta of 0.74.

Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.10. The firm had revenue of $457.33 million for the quarter, compared to analysts’ expectations of $454.49 million. Casella Waste Systems had a return on equity of 5.19% and a net margin of 0.38%.The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 earnings per share. Research analysts forecast that Casella Waste Systems, Inc. will post 1.06 EPS for the current year.

About Casella Waste Systems

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.