AMI Asset Management Corp Trims Stock Position in Casella Waste Systems, Inc. (NASDAQ:CWST)

AMI Asset Management Corp trimmed its holdings in Casella Waste Systems, Inc. (NASDAQ:CWST) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,256 shares of the industrial products company’s stock after selling 559 shares during the quarter. AMI Asset Management Corp’s holdings in Casella Waste Systems were worth $1,590,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bank of Montreal Can increased its holdings in shares of Casella Waste Systems by 71.7% in the 4th quarter. Bank of Montreal Can now owns 5,200 shares of the industrial products company’s stock valued at $550,000 after acquiring an additional 2,172 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Casella Waste Systems by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 607,954 shares of the industrial products company’s stock valued at $64,328,000 after acquiring an additional 14,369 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Casella Waste Systems by 3.1% in the 4th quarter. Victory Capital Management Inc. now owns 47,396 shares of the industrial products company’s stock valued at $5,015,000 after acquiring an additional 1,415 shares during the period. Rhumbline Advisers increased its holdings in shares of Casella Waste Systems by 5.6% in the 1st quarter. Rhumbline Advisers now owns 91,720 shares of the industrial products company’s stock valued at $10,228,000 after acquiring an additional 4,862 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Casella Waste Systems by 10.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,037 shares of the industrial products company’s stock valued at $639,000 after acquiring an additional 558 shares during the period. 99.51% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, President Edmond Coletta sold 5,562 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $119.18, for a total value of $662,879.16. Following the sale, the president now directly owns 150,093 shares in the company, valued at $17,888,083.74. The trade was a 3.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Paul Ligon sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $118.67, for a total transaction of $237,340.00. Following the completion of the sale, the senior vice president now owns 20,347 shares in the company, valued at $2,414,578.49. This represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.81% of the company’s stock.

Casella Waste Systems Stock Performance

NASDAQ:CWST opened at $114.42 on Thursday. The company has a quick ratio of 1.87, a current ratio of 1.96 and a debt-to-equity ratio of 0.72. Casella Waste Systems, Inc. has a fifty-two week low of $91.01 and a fifty-two week high of $121.24. The stock has a market cap of $7.26 billion, a PE ratio of 520.11, a price-to-earnings-growth ratio of 4.30 and a beta of 0.86. The firm’s fifty day simple moving average is $116.32 and its 200-day simple moving average is $111.72.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. Casella Waste Systems had a net margin of 0.79% and a return on equity of 4.69%. The business had revenue of $417.10 million for the quarter, compared to analysts’ expectations of $403.64 million. During the same period in the prior year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. Analysts expect that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CWST shares. TD Cowen started coverage on shares of Casella Waste Systems in a report on Wednesday, April 9th. They issued a “buy” rating and a $130.00 target price on the stock. Raymond James Financial reissued a “strong-buy” rating on shares of Casella Waste Systems in a research note on Wednesday, April 16th. Cowen reissued a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 6th. Finally, UBS Group boosted their price objective on shares of Casella Waste Systems from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.67.

Casella Waste Systems Company 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.