Verition Fund Management LLC lowered its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST – Get Rating) by 14.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,549 shares of the industrial products company's stock after selling 428 shares during the period. Verition Fund Management LLC's holdings in Casella Waste Systems were worth $223,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in Casella Waste Systems by 8.4% during the fourth quarter. Invesco Ltd. now owns 1,491,462 shares of the industrial products company's stock worth $127,401,000 after acquiring an additional 115,699 shares during the last quarter. Synovus Financial Corp raised its position in Casella Waste Systems by 2.4% during the fourth quarter. Synovus Financial Corp now owns 10,558 shares of the industrial products company's stock worth $910,000 after acquiring an additional 247 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Casella Waste Systems by 4.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,089 shares of the industrial products company's stock worth $621,000 after acquiring an additional 292 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Casella Waste Systems by 16.8% in the first quarter. Crossmark Global Holdings Inc. now owns 5,764 shares of the industrial products company's stock valued at $505,000 after buying an additional 830 shares during the last quarter. Finally, Granite Investment Partners LLC raised its position in shares of Casella Waste Systems by 534.1% in the first quarter. Granite Investment Partners LLC now owns 395,820 shares of the industrial products company's stock valued at $34,694,000 after buying an additional 333,402 shares during the last quarter. Institutional investors and hedge funds own 96.50% of the company's stock.
Get Casella Waste Systems alerts:Casella Waste Systems Price Performance
Casella Waste Systems stock opened at $77.14 on Tuesday. Casella Waste Systems, Inc. has a 1 year low of $63.90 and a 1 year high of $92.75. The firm has a 50 day moving average price of $81.85 and a 200 day moving average price of $79.02. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 84.77, a PEG ratio of 5.15 and a beta of 0.97. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.03 and a current ratio of 1.11.
Casella Waste Systems (NASDAQ:CWST – Get Rating) last released its earnings results on Thursday, July 28th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. Casella Waste Systems had a net margin of 4.69% and a return on equity of 12.27%. The firm had revenue of $283.67 million during the quarter, compared to the consensus estimate of $252.48 million. During the same period in the previous year, the firm earned $0.25 earnings per share. Casella Waste Systems's revenue was up 31.4% compared to the same quarter last year. Sell-side analysts predict that Casella Waste Systems, Inc. will post 1.07 earnings per share for the current year.Insider Activity at Casella Waste Systems
In related news, Director Douglas R. Casella sold 20,000 shares of the business's stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $84.08, for a total value of $1,681,600.00. Following the completion of the sale, the director now directly owns 208,773 shares in the company, valued at $17,553,633.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Douglas R. Casella sold 20,000 shares of the business's stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $84.08, for a total value of $1,681,600.00. Following the completion of the sale, the director now directly owns 208,773 shares in the company, valued at $17,553,633.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael K. Burke sold 5,350 shares of the business's stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $84.73, for a total transaction of $453,305.50. Following the sale, the director now owns 19,087 shares of the company's stock, valued at $1,617,241.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,600 shares of company stock worth $3,079,431. 5.05% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on CWST shares. TheStreet raised shares of Casella Waste Systems from a "c+" rating to a "b-" rating in a research report on Friday, July 29th. StockNews.com raised shares of Casella Waste Systems from a "hold" rating to a "buy" rating in a research report on Thursday, August 11th. Finally, Raymond James boosted their price objective on shares of Casella Waste Systems from $89.00 to $93.00 and gave the company a "strong-buy" rating in a research report on Monday, August 1st.
Casella Waste Systems Profile
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Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the northeastern United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.
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