4,936 Shares in Casella Waste Systems, Inc. (NASDAQ:CWST) Bought by Verition Fund Management LLC

Verition Fund Management LLC purchased a new stake in Casella Waste Systems, Inc. (NASDAQ:CWST – Get Rating) in the 3rd quarter, HoldingsChannel reports. The fund purchased 4,936 shares of the industrial products company’s stock, valued at approximately $377,000.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Casella Waste Systems by 18.2% in the second quarter. JPMorgan Chase & Co. now owns 2,693,269 shares of the industrial products company’s stock valued at $195,747,000 after buying an additional 414,539 shares in the last quarter. Sei Investments Co. grew its position in Casella Waste Systems by 561.2% in the second quarter. Sei Investments Co. now owns 432,016 shares of the industrial products company’s stock valued at $31,399,000 after acquiring an additional 366,675 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Casella Waste Systems by 269.6% during the first quarter. Wellington Management Group LLP now owns 483,413 shares of the industrial products company’s stock worth $42,372,000 after purchasing an additional 352,620 shares in the last quarter. Brown Advisory Inc. purchased a new stake in Casella Waste Systems during the 2nd quarter worth $18,877,000. Finally, Macquarie Group Ltd. lifted its holdings in Casella Waste Systems by 12.8% in the 2nd quarter. Macquarie Group Ltd. now owns 1,481,041 shares of the industrial products company’s stock worth $107,642,000 after buying an additional 167,549 shares in the last quarter. 96.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Paul Ligon sold 1,352 shares of Casella Waste Systems stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $78.72, for a total value of $106,429.44. Following the completion of the transaction, the senior vice president now directly owns 22,088 shares of the company’s stock, valued at approximately $1,738,767.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Edmond Coletta sold 16,135 shares of the stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $75.65, for a total transaction of $1,220,612.75. Following the sale, the chief financial officer now directly owns 165,382 shares in the company, valued at approximately $12,511,148.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul Ligon sold 1,352 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $78.72, for a total value of $106,429.44. Following the completion of the sale, the senior vice president now directly owns 22,088 shares in the company, valued at approximately $1,738,767.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,850 shares of company stock valued at $1,430,153. Company insiders own 5.05% of the company’s stock.

Casella Waste Systems Stock Down 0.6 %

Shares of Casella Waste Systems stock opened at $77.86 on Wednesday. The business has a 50-day moving average price of $78.94 and a 200 day moving average price of $80.15. Casella Waste Systems, Inc. has a fifty-two week low of $63.90 and a fifty-two week high of $92.75. The firm has a market cap of $4.03 billion, a P/E ratio of 76.33, a P/E/G ratio of 3.93 and a beta of 0.93. The company has a quick ratio of 1.09, a current ratio of 1.17 and a debt-to-equity ratio of 1.17.

Casella Waste Systems (NASDAQ:CWST – Get Rating) last issued its quarterly earnings results on Friday, February 17th. The industrial products company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). Casella Waste Systems had a net margin of 4.89% and a return on equity of 12.13%. The firm had revenue of $272.10 million during the quarter, compared to the consensus estimate of $264.15 million. During the same quarter last year, the firm posted $0.21 earnings per share. Casella Waste Systems’s revenue was up 12.5% compared to the same quarter last year. On average, sell-side analysts forecast that Casella Waste Systems, Inc. will post 1.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CWST. Bank of America downgraded Casella Waste Systems from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $87.00 to $81.00 in a research note on Friday, January 13th. UBS Group upgraded Casella Waste Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $90.00 to $95.00 in a report on Tuesday, January 10th. Raymond James reduced their target price on Casella Waste Systems from $92.00 to $90.00 and set a “strong-buy” rating for the company in a research note on Thursday, February 23rd. Finally, StockNews.com lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, February 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.25.

About Casella Waste Systems

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Casella Waste Systems, Inc engages in the provision of resource management and services to residential, commercial, municipal and industrial customers, in the areas of solid waste collection, transfer, disposal, recycling and organics services. It operates through the following segments: Eastern Region, Western Region, Recycling and Other segments.