Bank of America Corp DE raised its stake in Casella Waste Systems, Inc. (NASDAQ:CWST) by 7.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 275,653 shares of the industrial products company’s stock after buying an additional 19,189 shares during the period. Bank of America Corp DE owned 0.66% of Casella Waste Systems worth $3,889,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the company. Rutabaga Capital Management LLC MA boosted its stake in Casella Waste Systems by 1.9% in the first quarter. Rutabaga Capital Management LLC MA now owns 834,898 shares of the industrial products company’s stock valued at $11,780,000 after buying an additional 15,750 shares during the last quarter. KCG Holdings Inc. boosted its stake in Casella Waste Systems by 36.0% in the first quarter. KCG Holdings Inc. now owns 29,566 shares of the industrial products company’s stock valued at $417,000 after buying an additional 7,830 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Casella Waste Systems by 36.6% in the first quarter. Renaissance Technologies LLC now owns 2,322,342 shares of the industrial products company’s stock valued at $32,768,000 after buying an additional 622,381 shares during the last quarter. UBS Group AG boosted its stake in Casella Waste Systems by 71.7% in the first quarter. UBS Group AG now owns 96,298 shares of the industrial products company’s stock valued at $1,359,000 after buying an additional 40,220 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Casella Waste Systems by 6.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,908,035 shares of the industrial products company’s stock valued at $26,922,000 after buying an additional 118,141 shares during the last quarter. 75.19% of the stock is currently owned by institutional investors.
Shares of Casella Waste Systems, Inc. (NASDAQ CWST) traded up 3.70% during mid-day trading on Friday, reaching $16.24. 117,163 shares of the company’s stock traded hands. Casella Waste Systems, Inc. has a 12-month low of $8.75 and a 12-month high of $17.73. The stock has a 50-day moving average price of $16.60 and a 200 day moving average price of $14.17. The firm’s market capitalization is $679.01 million.
Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.02. The business had revenue of $154.02 million for the quarter, compared to the consensus estimate of $149.88 million. Casella Waste Systems had a negative net margin of 10.01% and a negative return on equity of 99.93%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 EPS. Analysts anticipate that Casella Waste Systems, Inc. will post $0.59 EPS for the current fiscal year.
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CWST has been the subject of several research analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $19.00 price objective on shares of Casella Waste Systems in a report on Friday, July 28th. Zacks Investment Research lowered shares of Casella Waste Systems from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. BidaskClub lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Barclays PLC initiated coverage on shares of Casella Waste Systems in a report on Friday, June 23rd. They issued an “overweight” rating and a $19.00 price objective for the company. Finally, KeyCorp raised their price objective on shares of Casella Waste Systems from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $17.00.
In other Casella Waste Systems news, Vice Chairman Douglas R. Casella sold 2,166 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $16.82, for a total value of $36,432.12. Following the transaction, the insider now directly owns 739,613 shares in the company, valued at approximately $12,440,290.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Edwin D. Johnson sold 3,591 shares of the company’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $16.82, for a total transaction of $60,400.62. Following the completion of the transaction, the chief operating officer now owns 269,500 shares in the company, valued at $4,532,990. The disclosure for this sale can be found here. Insiders sold a total of 16,102 shares of company stock worth $268,106 over the last 90 days. Insiders own 11.50% of the company’s stock.
About Casella Waste Systems
Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.
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