Granahan Investment Management LLC Sells 7,453 Shares of Casella Waste Systems, Inc. $CWST

Granahan Investment Management LLC decreased its holdings in Casella Waste Systems, Inc. (NASDAQ:CWST) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 250,262 shares of the industrial products company’s stock after selling 7,453 shares during the quarter. Granahan Investment Management LLC’s holdings in Casella Waste Systems were worth $19,856,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Caxton Associates LLP bought a new position in Casella Waste Systems in the first quarter worth approximately $500,000. Inceptionr LLC bought a new stake in shares of Casella Waste Systems during the 1st quarter valued at $329,000. Liberty One Investment Management LLC grew its position in shares of Casella Waste Systems by 110.5% during the 1st quarter. Liberty One Investment Management LLC now owns 4,041 shares of the industrial products company’s stock valued at $321,000 after acquiring an additional 2,121 shares during the period. Cetera Investment Advisers increased its stake in shares of Casella Waste Systems by 9.3% in the 1st quarter. Cetera Investment Advisers now owns 21,549 shares of the industrial products company’s stock worth $1,710,000 after purchasing an additional 1,829 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Casella Waste Systems by 1,166.1% in the 1st quarter. First Trust Advisors LP now owns 48,429 shares of the industrial products company’s stock worth $3,842,000 after purchasing an additional 44,604 shares in the last quarter. 99.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CWST. Barclays raised Casella Waste Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $101.00 to $102.00 in a report on Monday, May 4th. Weiss Ratings restated a “sell (d)” rating on shares of Casella Waste Systems in a research report on Friday, May 22nd. Zacks Research raised Casella Waste Systems from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 8th. UBS Group lowered their price objective on Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Finally, TD Cowen reiterated a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.12.

Insider Activity at Casella Waste Systems

In other Casella Waste Systems news, Director Michael K. Burke sold 2,305 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total transaction of $201,825.80. Following the completion of the sale, the director directly owned 14,048 shares of the company’s stock, valued at $1,230,042.88. This trade represents a 14.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Edmond Coletta sold 12,500 shares of Casella Waste Systems stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total transaction of $1,119,500.00. Following the sale, the chief executive officer owned 140,118 shares in the company, valued at approximately $12,548,968.08. The trade was a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.78% of the company’s stock.

Casella Waste Systems Price Performance

Shares of Casella Waste Systems stock opened at $89.39 on Friday. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 812.71 and a beta of 0.74. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. The stock’s 50-day simple moving average is $90.40 and its 200-day simple moving average is $91.31. Casella Waste Systems, Inc. has a 52 week low of $74.05 and a 52 week high of $111.48.

Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.10. The firm had revenue of $457.33 million during the quarter, compared to analysts’ expectations of $454.49 million. Casella Waste Systems had a return on equity of 5.19% and a net margin of 0.38%.The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $0.19 earnings per share. As a group, analysts expect that Casella Waste Systems, Inc. will post 1.06 earnings per share for the current fiscal year.

Casella Waste Systems Profile

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.