Royal Bank of Canada cut its holdings in Casella Waste Systems Inc. (NASDAQ:CWST) by 33.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,367 shares of the industrial products company’s stock after selling 69,866 shares during the quarter. Royal Bank of Canada owned about 0.29% of Casella Waste Systems worth $5,563,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisor Group Inc. lifted its stake in shares of Casella Waste Systems by 69.5% in the first quarter. Advisor Group Inc. now owns 23,367 shares of the industrial products company’s stock worth $831,000 after buying an additional 9,585 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new stake in shares of Casella Waste Systems in the first quarter worth $309,000. OppenheimerFunds Inc. lifted its stake in shares of Casella Waste Systems by 12.3% in the first quarter. OppenheimerFunds Inc. now owns 722,467 shares of the industrial products company’s stock worth $25,690,000 after buying an additional 79,180 shares during the last quarter. Formula Growth Ltd. lifted its stake in shares of Casella Waste Systems by 10.0% in the first quarter. Formula Growth Ltd. now owns 55,000 shares of the industrial products company’s stock worth $1,956,000 after buying an additional 5,000 shares during the last quarter. Finally, Marshall Wace North America L.P. increased its position in Casella Waste Systems by 100.3% during the first quarter. Marshall Wace North America L.P. now owns 16,182 shares of the industrial products company’s stock worth $576,000 after acquiring an additional 8,105 shares during the period. Hedge funds and other institutional investors own 88.85% of the company’s stock.
A number of equities analysts recently issued reports on CWST shares. BidaskClub lowered shares of Casella Waste Systems from a “hold” rating to a “sell” rating in a research report on Thursday, September 12th. Zacks Investment Research raised shares of Casella Waste Systems from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Monday, October 7th. Raymond James boosted their target price on shares of Casella Waste Systems from $43.00 to $52.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 5th. Finally, ValuEngine lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $45.25.
Shares of Casella Waste Systems stock opened at $43.03 on Friday. The firm has a market capitalization of $2.05 billion, a PE ratio of 70.54 and a beta of 0.78. The company has a debt-to-equity ratio of 5.71, a current ratio of 0.88 and a quick ratio of 0.82. The company’s fifty day moving average price is $43.70 and its two-hundred day moving average price is $40.47. Casella Waste Systems Inc. has a 52-week low of $24.61 and a 52-week high of $47.72.
Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The firm had revenue of $187.46 million for the quarter, compared to analyst estimates of $184.08 million. Casella Waste Systems had a net margin of 2.69% and a return on equity of 76.51%. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. Analysts predict that Casella Waste Systems Inc. will post 0.83 earnings per share for the current fiscal year.
In other Casella Waste Systems news, Director William P. Hulligan sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $44.60, for a total value of $446,000.00. Following the sale, the director now owns 42,031 shares of the company’s stock, valued at approximately $1,874,582.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher Heald purchased 8,012 shares of the stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $12.48 per share, for a total transaction of $99,989.76. Following the acquisition, the vice president now directly owns 50,361 shares in the company, valued at $628,505.28. The disclosure for this purchase can be found here. Insiders sold a total of 312,256 shares of company stock worth $14,207,139 in the last three months. Insiders own 9.65% of the company’s stock.
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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