Credit Suisse AG cut its stake in shares of Casella Waste Systems Inc. (NASDAQ:CWST) by 19.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,042 shares of the industrial products company’s stock after selling 13,507 shares during the period. Credit Suisse AG owned approximately 0.12% of Casella Waste Systems worth $2,534,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Evoke Wealth LLC acquired a new stake in shares of Casella Waste Systems during the third quarter valued at about $33,000. First Bank & Trust increased its position in shares of Casella Waste Systems by 407.1% during the fourth quarter. First Bank & Trust now owns 1,562 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 1,254 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Casella Waste Systems during the third quarter valued at about $92,000. Great West Life Assurance Co. Can acquired a new stake in shares of Casella Waste Systems during the fourth quarter valued at about $135,000. Finally, Great Diamond Partners LLC acquired a new stake in shares of Casella Waste Systems during the fourth quarter valued at about $195,000. Institutional investors and hedge funds own 92.61% of the company’s stock.
In related news, Director Michael K. Burke sold 11,200 shares of Casella Waste Systems stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $52.82, for a total value of $591,584.00. Following the completion of the transaction, the director now owns 25,010 shares in the company, valued at $1,321,028.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David L. Schmitt sold 2,831 shares of Casella Waste Systems stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $49.19, for a total transaction of $139,256.89. Following the completion of the transaction, the vice president now owns 39,075 shares of the company’s stock, valued at approximately $1,922,099.25. The disclosure for this sale can be found here. In the last three months, insiders sold 255,122 shares of company stock valued at $12,800,572. Insiders own 9.65% of the company’s stock.
NASDAQ CWST opened at $40.87 on Thursday. The firm has a 50 day simple moving average of $48.86 and a 200-day simple moving average of $46.07. The company has a debt-to-equity ratio of 4.72, a quick ratio of 0.73 and a current ratio of 0.79. Casella Waste Systems Inc. has a one year low of $32.07 and a one year high of $56.14. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 61.93 and a beta of 0.71.
Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings data on Thursday, February 20th. The industrial products company reported $0.21 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. Casella Waste Systems had a net margin of 4.26% and a return on equity of 39.38%. The business had revenue of $193.62 million during the quarter, compared to analyst estimates of $193.34 million. During the same quarter last year, the firm posted $0.09 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts predict that Casella Waste Systems Inc. will post 0.87 EPS for the current fiscal year.
A number of brokerages have weighed in on CWST. Stifel Nicolaus cut shares of Casella Waste Systems from a “buy” rating to a “hold” rating and dropped their price target for the company from $60.00 to $45.00 in a research report on Monday. Jefferies Financial Group assumed coverage on shares of Casella Waste Systems in a research note on Wednesday, November 27th. They issued a “buy” rating and a $52.00 price objective for the company. TheStreet raised shares of Casella Waste Systems from a “c+” rating to a “b-” rating in a research note on Friday, February 21st. Zacks Investment Research raised their price objective on shares of Casella Waste Systems to $55.00 in a research note on Thursday, February 27th. Finally, Raymond James raised their price objective on shares of Casella Waste Systems from $57.00 to $62.00 and gave the company a “strong-buy” rating in a research note on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $50.60.
Casella Waste Systems Company 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.
Read More: What does an equal weight rating mean?
Receive News & Ratings for Casella Waste Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Casella Waste Systems and related companies with MarketBeat.com's FREE daily email newsletter.