Forte Capital LLC ADV Decreases Stake in Casella Waste Systems, Inc. (NASDAQ:CWST)

Forte Capital LLC ADV trimmed its position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 9.6% during the first quarter, Holdings Channel reports. The firm owned 5,485 shares of the industrial products company’s stock after selling 585 shares during the quarter. Forte Capital LLC ADV’s holdings in Casella Waste Systems were worth $612,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Verdence Capital Advisors LLC lifted its position in shares of Casella Waste Systems by 27.1% in the first quarter. Verdence Capital Advisors LLC now owns 4,189 shares of the industrial products company’s stock valued at $467,000 after acquiring an additional 894 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in Casella Waste Systems by 1.9% during the first quarter. Segall Bryant & Hamill LLC now owns 331,587 shares of the industrial products company’s stock worth $36,975,000 after acquiring an additional 6,176 shares during the last quarter. Signaturefd LLC increased its stake in Casella Waste Systems by 17.3% during the first quarter. Signaturefd LLC now owns 941 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 139 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Casella Waste Systems during the first quarter worth about $1,874,000. Finally, New York State Common Retirement Fund increased its stake in Casella Waste Systems by 13.8% during the first quarter. New York State Common Retirement Fund now owns 57,025 shares of the industrial products company’s stock worth $6,359,000 after acquiring an additional 6,927 shares during the last quarter. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Casella Waste Systems Trading Down 0.3%

NASDAQ:CWST opened at $109.56 on Friday. The company has a quick ratio of 1.87, a current ratio of 1.96 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $114.97 and its two-hundred day moving average is $112.37. Casella Waste Systems, Inc. has a 52 week low of $91.01 and a 52 week high of $121.24. The company has a market cap of $6.95 billion, a PE ratio of 498.02, a P/E/G ratio of 4.02 and a beta of 0.84.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CWST shares. Raymond James Financial restated a “strong-buy” rating on shares of Casella Waste Systems in a research note on Wednesday, April 16th. William Blair reaffirmed an “outperform” rating on shares of Casella Waste Systems in a research report on Tuesday. UBS Group upped their target price on Casella Waste Systems from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. TD Cowen started coverage on Casella Waste Systems in a research report on Wednesday, April 9th. They issued a “buy” rating and a $130.00 target price for the company. Finally, Cowen reaffirmed a “buy” rating on shares of Casella Waste Systems in a research report on Friday, June 6th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Casella Waste Systems currently has a consensus rating of “Moderate Buy” and an average target price of $122.67.

Insider Buying and Selling at Casella Waste Systems

In other news, President Edmond Coletta sold 5,562 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $119.18, for a total transaction of $662,879.16. Following the sale, the president directly owned 150,093 shares in the company, valued at approximately $17,888,083.74. This represents a 3.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.81% of the company’s stock.

About Casella Waste Systems

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.