Formula Growth Ltd. raised its position in Casella Waste Systems Inc. (NASDAQ:CWST) by 10.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,000 shares of the industrial products company’s stock after acquiring an additional 5,000 shares during the quarter. Formula Growth Ltd.’s holdings in Casella Waste Systems were worth $1,956,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in CWST. Wells Fargo & Company MN increased its position in shares of Casella Waste Systems by 95.6% in the first quarter. Wells Fargo & Company MN now owns 2,613,176 shares of the industrial products company’s stock valued at $92,924,000 after acquiring an additional 1,276,940 shares during the period. TimesSquare Capital Management LLC purchased a new position in shares of Casella Waste Systems in the first quarter valued at about $27,427,000. Oak Ridge Investments LLC purchased a new position in shares of Casella Waste Systems in the first quarter valued at about $13,817,000. BlackRock Inc. increased its position in shares of Casella Waste Systems by 8.3% in the first quarter. BlackRock Inc. now owns 3,061,151 shares of the industrial products company’s stock valued at $108,853,000 after acquiring an additional 233,548 shares during the period. Finally, American Century Companies Inc. purchased a new position in shares of Casella Waste Systems in the fourth quarter valued at about $6,555,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.
A number of equities analysts have issued reports on CWST shares. TheStreet upgraded shares of Casella Waste Systems from a “c” rating to a “b-” rating in a research report on Wednesday, May 1st. Zacks Investment Research upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Tuesday, May 7th. Stifel Nicolaus upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $35.00 to $40.00 in a research report on Wednesday, May 1st. Finally, BidaskClub upgraded shares of Casella Waste Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $39.25.
Shares of NASDAQ CWST opened at $39.34 on Friday. Casella Waste Systems Inc. has a 1 year low of $24.53 and a 1 year high of $40.08. The company has a debt-to-equity ratio of 6.53, a quick ratio of 0.96 and a current ratio of 1.02. The stock has a market cap of $1.83 billion, a P/E ratio of 65.57 and a beta of 0.86.
Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Casella Waste Systems had a net margin of 1.27% and a return on equity of 390.60%. The company had revenue of $163.70 million for the quarter, compared to analysts’ expectations of $161.77 million. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts predict that Casella Waste Systems Inc. will post 0.81 EPS for the current fiscal year.
In other Casella Waste Systems news, CEO John W. Casella sold 45,124 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $37.31, for a total value of $1,683,576.44. Following the sale, the chief executive officer now owns 422,204 shares in the company, valued at $15,752,431.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Christopher Heald sold 17,851 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $38.88, for a total transaction of $694,046.88. The disclosure for this sale can be found here. Insiders have sold 415,251 shares of company stock worth $15,599,854 in the last quarter. 9.65% of the stock is owned by corporate insiders.
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Casella Waste Systems Profile
Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the northeastern United States. The company operates through Eastern, Western, Recycling, and Other segments. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, and industrial customers.
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