Casella Waste Systems, Inc. (NASDAQ:CWST) Shares Sold by Synovus Financial Corp

Synovus Financial Corp decreased its holdings in Casella Waste Systems, Inc. (NASDAQ:CWST) by 16.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,009 shares of the industrial products company’s stock after selling 2,193 shares during the quarter. Synovus Financial Corp’s holdings in Casella Waste Systems were worth $1,095,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Harbor Capital Advisors Inc. boosted its holdings in Casella Waste Systems by 108.0% in the third quarter. Harbor Capital Advisors Inc. now owns 66,129 shares of the industrial products company’s stock valued at $6,579,000 after purchasing an additional 34,340 shares during the period. Millennium Management LLC boosted its stake in shares of Casella Waste Systems by 667.9% in the 2nd quarter. Millennium Management LLC now owns 48,231 shares of the industrial products company’s stock valued at $4,785,000 after buying an additional 41,950 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Casella Waste Systems by 3.1% during the second quarter. Dimensional Fund Advisors LP now owns 861,463 shares of the industrial products company’s stock worth $85,476,000 after buying an additional 26,189 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Casella Waste Systems during the third quarter worth approximately $562,000. Finally, Loomis Sayles & Co. L P increased its stake in shares of Casella Waste Systems by 21.8% during the third quarter. Loomis Sayles & Co. L P now owns 848,976 shares of the industrial products company’s stock worth $84,465,000 after buying an additional 151,744 shares during the period. Hedge funds and other institutional investors own 99.51% of the company’s stock.

Insider Transactions at Casella Waste Systems

In other news, SVP Paul Ligon sold 1,730 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $106.81, for a total transaction of $184,781.30. Following the completion of the sale, the senior vice president now owns 21,085 shares in the company, valued at $2,252,088.85. This represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.24% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on CWST shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Casella Waste Systems from $114.00 to $107.00 and set a “hold” rating for the company in a report on Friday, November 1st. William Blair began coverage on shares of Casella Waste Systems in a research note on Thursday, October 3rd. They set an “outperform” rating for the company. Raymond James upped their price objective on Casella Waste Systems from $121.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Stifel Nicolaus raised their target price on Casella Waste Systems from $117.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Casella Waste Systems Stock Performance

NASDAQ CWST opened at $106.81 on Tuesday. The company has a fifty day moving average of $106.36 and a two-hundred day moving average of $103.52. The company has a market capitalization of $6.76 billion, a PE ratio of 890.08, a P/E/G ratio of 6.53 and a beta of 1.02. Casella Waste Systems, Inc. has a 1 year low of $80.04 and a 1 year high of $114.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.55 and a quick ratio of 2.48.

Casella Waste Systems (NASDAQ:CWST) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The firm had revenue of $411.63 million during the quarter, compared to analyst estimates of $412.59 million. Casella Waste Systems had a net margin of 0.46% and a return on equity of 3.04%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. As a group, analysts expect that Casella Waste Systems, Inc. will post 0.65 earnings per share for the current year.

Casella Waste Systems Profile

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the 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.