Casella Waste Systems, Inc. $CWST Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its stake in Casella Waste Systems, Inc. (NASDAQ:CWST) by 37.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,732 shares of the industrial products company’s stock after selling 5,824 shares during the period. Corient Private Wealth LLC’s holdings in Casella Waste Systems were worth $959,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. SHP Wealth Management acquired a new stake in Casella Waste Systems during the fourth quarter valued at $43,000. MidFirst Bank acquired a new stake in shares of Casella Waste Systems during the 4th quarter valued at about $214,000. Invesco Ltd. increased its stake in shares of Casella Waste Systems by 12.5% in the 4th quarter. Invesco Ltd. now owns 2,703,855 shares of the industrial products company’s stock valued at $264,816,000 after purchasing an additional 300,102 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Casella Waste Systems by 45.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,195 shares of the industrial products company’s stock worth $509,000 after purchasing an additional 1,617 shares during the period. Finally, State of Tennessee Department of Treasury acquired a new position in Casella Waste Systems in the 4th quarter worth about $1,395,000. 99.51% of the stock is currently owned by institutional investors and hedge funds.

Casella Waste Systems Stock Up 2.2%

NASDAQ CWST opened at $97.49 on Friday. The business has a fifty day moving average price of $86.37 and a 200 day moving average price of $91.77. Casella Waste Systems, Inc. has a one year low of $74.05 and a one year high of $114.12. 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 company has a market cap of $6.20 billion, a P/E ratio of 886.35 and a beta of 0.74.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on CWST shares. TD Cowen reissued a “buy” rating on shares of Casella Waste Systems in a report on Friday, June 5th. Barclays upgraded Casella Waste Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $101.00 to $102.00 in a research report on Monday, May 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Casella Waste Systems in a report on Friday, May 22nd. UBS Group decreased their price objective on shares of Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating on the stock in a report on Friday, June 26th. Finally, Zacks Research downgraded shares of Casella Waste Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.12.

Insider Activity at Casella Waste Systems

In related news, Director Michael K. Burke sold 2,305 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total value of $201,825.80. Following the completion of the sale, the director owned 14,048 shares of the company’s stock, valued at approximately $1,230,042.88. This trade represents a 14.10% decrease in their ownership of the stock. The transaction 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 Casella Waste Systems stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $89.56, for a total value of $1,119,500.00. Following the transaction, the chief executive officer owned 140,118 shares in the company, valued at approximately $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. Insiders own 3.78% of the company’s stock.

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.