Truist Financial Corp Trims Stock Position in Casella Waste Systems, Inc. (NASDAQ:CWST)

Truist Financial Corp lessened its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 42.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,951 shares of the industrial products company’s stock after selling 69,857 shares during the quarter. Truist Financial Corp owned about 0.16% of Casella Waste Systems worth $8,114,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Operose Advisors LLC acquired a new position in shares of Casella Waste Systems in the 3rd quarter valued at $25,000. NBC Securities Inc. acquired a new position in Casella Waste Systems in the 3rd quarter valued at $26,000. Headlands Technologies LLC acquired a new position in Casella Waste Systems in the 3rd quarter valued at $26,000. Millburn Ridgefield Corp acquired a new position in Casella Waste Systems in the 3rd quarter valued at $27,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Casella Waste Systems in the 3rd quarter valued at $27,000. Hedge funds and other institutional investors own 99.51% of the company’s stock.

Insider Transactions at Casella Waste Systems

In related news, CEO John W. Casella sold 1,673 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $94.13, for a total value of $157,479.49. Following the completion of the sale, the chief executive officer now directly owns 35,189 shares in the company, valued at $3,312,340.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Casella Waste Systems news, CEO John W. Casella sold 1,673 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $94.13, for a total transaction of $157,479.49. Following the completion of the sale, the chief executive officer now owns 35,189 shares of the company’s stock, valued at $3,312,340.57. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Edmond Coletta sold 733 shares of Casella Waste Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $94.31, for a total value of $69,129.23. Following the completion of the transaction, the president now directly owns 170,486 shares in the company, valued at $16,078,534.66. The disclosure for this sale can be found here. Insiders have sold a total of 11,238 shares of company stock worth $1,026,395 in the last three months. Company insiders own 4.24% of the company’s stock.

Casella Waste Systems Stock Performance

Shares of CWST opened at $91.62 on Friday. Casella Waste Systems, Inc. has a 1 year low of $72.97 and a 1 year high of $100.29. The company’s 50 day simple moving average is $94.34 and its 200 day simple moving average is $87.15. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 295.55, a PEG ratio of 5.70 and a beta of 0.92. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.46 and a current ratio of 1.58.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings results on Friday, April 26th. The industrial products company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Casella Waste Systems had a return on equity of 4.47% and a net margin of 1.32%. The company had revenue of $341.00 million for the quarter, compared to analyst estimates of $340.70 million. During the same quarter in the prior year, the company posted $0.10 EPS. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, sell-side analysts predict that Casella Waste Systems, Inc. will post 0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CWST. Wells Fargo & Company boosted their price objective on shares of Casella Waste Systems from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. StockNews.com upgraded shares of Casella Waste Systems from a “sell” rating to a “hold” rating in a research report on Friday, February 16th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $101.50.

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.