Casella Waste Systems, Inc. $CWST Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its position in Casella Waste Systems, Inc. (NASDAQ:CWST) by 7.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 338,392 shares of the industrial products company’s stock after selling 26,005 shares during the quarter. Fifth Third Bancorp owned 0.53% of Casella Waste Systems worth $27,190,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Tidal Investments LLC boosted its stake in Casella Waste Systems by 4.9% in the second quarter. Tidal Investments LLC now owns 232,710 shares of the industrial products company’s stock worth $22,566,000 after buying an additional 10,828 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of Casella Waste Systems during the first quarter worth approximately $2,658,000. Assenagon Asset Management S.A. raised its stake in shares of Casella Waste Systems by 387.1% during the second quarter. Assenagon Asset Management S.A. now owns 17,856 shares of the industrial products company’s stock worth $1,731,000 after acquiring an additional 14,190 shares in the last quarter. B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of Casella Waste Systems by 89.8% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 61,501 shares of the industrial products company’s stock worth $5,964,000 after acquiring an additional 29,094 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Casella Waste Systems by 6.6% in the 2nd quarter. Wellington Management Group LLP now owns 1,292,101 shares of the industrial products company’s stock worth $125,295,000 after acquiring an additional 80,299 shares during the last quarter. 99.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Casella Waste Systems news, Director Michael Burke sold 1,100 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $95.26, for a total transaction of $104,786.00. Following the transaction, the director directly owned 13,641 shares of the company’s stock, valued at approximately $1,299,441.66. The trade was a 7.46% 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 sold a total of 2,395 shares of company stock valued at $226,325 over the last ninety days. Company insiders own 3.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CWST. Raymond James Financial reaffirmed a “strong-buy” rating and set a $106.00 target price on shares of Casella Waste Systems in a report on Friday, October 9th. Barclays upped their price target on shares of Casella Waste Systems from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on Casella Waste Systems from $91.00 to $99.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Weiss Ratings cut Casella Waste Systems from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 30th. Finally, UBS Group downgraded Casella Waste Systems from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $122.00 to $95.00 in a report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Casella Waste Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.80.

Casella Waste Systems Stock Down 0.1%

NASDAQ CWST opened at $100.19 on Friday. Casella Waste Systems, Inc. has a 1 year low of $74.05 and a 1 year high of $107.96. The stock has a market capitalization of $6.38 billion, a PE ratio of -556.58 and a beta of 0.71. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.95 and a quick ratio of 0.99. The business’s 50-day moving average is $89.70 and its 200 day moving average is $89.91.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings data on Monday, November 9th. The industrial products company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.06). The business had revenue of $559.23 million during the quarter, compared to analysts’ expectations of $563.17 million. Casella Waste Systems had a positive return on equity of 5.04% and a negative net margin of 0.56%. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. Sell-side analysts forecast that Casella Waste Systems, Inc. will post 1.23 earnings per share for the current year.

Casella Waste Systems Company Profile

Casella Waste Systems is a regional solid waste services company that provides collection, transfer, disposal, recycling and resource management services. Its customers include residential, commercial, municipal and industrial clients. The company operates primarily in the northeastern United States, with services across states including Vermont, New Hampshire, New York, Maine, Massachusetts, Connecticut and Pennsylvania. Its operations also include recycling and organics services designed to recover materials and manage waste.