Raymond James & Associates Increases Holdings in Casella Waste Systems Inc. (CWST)

Raymond James & Associates raised its position in Casella Waste Systems Inc. (NASDAQ:CWST) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 315,002 shares of the industrial products company’s stock after purchasing an additional 4,456 shares during the quarter. Raymond James & Associates’ holdings in Casella Waste Systems were worth $8,974,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CWST. Meeder Asset Management Inc. grew its holdings in Casella Waste Systems by 218.8% during the 4th quarter. Meeder Asset Management Inc. now owns 3,864 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 2,652 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Casella Waste Systems during the 3rd quarter valued at about $124,000. NEXT Financial Group Inc acquired a new stake in shares of Casella Waste Systems during the 4th quarter valued at about $129,000. Acadian Asset Management LLC acquired a new stake in shares of Casella Waste Systems during the 3rd quarter valued at about $152,000. Finally, LPL Financial LLC acquired a new stake in shares of Casella Waste Systems during the 4th quarter valued at about $241,000. 85.61% of the stock is owned by hedge funds and other institutional investors.

CWST traded down $0.52 during trading hours on Tuesday, reaching $33.97. 521 shares of the stock traded hands, compared to its average volume of 320,960. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 56.15 and a beta of 0.90. Casella Waste Systems Inc. has a fifty-two week low of $23.01 and a fifty-two week high of $36.00.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings results on Thursday, February 21st. The industrial products company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). The firm had revenue of $174.72 million for the quarter, compared to analyst estimates of $172.12 million. Casella Waste Systems had a net margin of 0.97% and a negative return on equity of 103.42%. Casella Waste Systems’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 earnings per share. Analysts forecast that Casella Waste Systems Inc. will post 0.8 earnings per share for the current year.

In other Casella Waste Systems news, VP Christopher Heald sold 1,280 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $35.09, for a total transaction of $44,915.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William P. Hulligan sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $29.94, for a total transaction of $299,400.00. Following the transaction, the director now owns 59,484 shares in the company, valued at $1,780,950.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 389,855 shares of company stock valued at $13,557,234. Company insiders own 10.64% of the company’s stock.

CWST has been the topic of a number of analyst reports. BidaskClub upgraded Casella Waste Systems from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. ValuEngine downgraded shares of Casella Waste Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 11th. Stifel Nicolaus raised shares of Casella Waste Systems from a “hold” rating to a “buy” rating and raised their target price for the company from $30.00 to $32.00 in a research note on Thursday, December 27th. KeyCorp started coverage on shares of Casella Waste Systems in a research note on Monday, February 4th. They issued a “sector weight” rating on the stock. Finally, Zacks Investment Research lowered shares of Casella Waste Systems from a “hold” rating to a “sell” rating in a report on Monday, January 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. Casella Waste Systems currently has a consensus rating of “Buy” and a consensus target price of $32.75.

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About Casella Waste Systems

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 Region, Western Region, 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: Hedge Funds Explained

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Institutional Ownership by Quarter for Casella Waste Systems (NASDAQ:CWST)

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