Casella Waste Systems, Inc. (NASDAQ:CWST) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 3.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 303,135 shares of the industrial products company’s stock after selling 11,330 shares during the period. Envestnet Asset Management Inc. owned approximately 0.48% of Casella Waste Systems worth $33,803,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Covestor Ltd boosted its stake in Casella Waste Systems by 124.4% during the fourth quarter. Covestor Ltd now owns 276 shares of the industrial products company’s stock valued at $29,000 after buying an additional 153 shares in the last quarter. Quarry LP acquired a new position in shares of Casella Waste Systems in the 4th quarter valued at $30,000. NBC Securities Inc. acquired a new stake in Casella Waste Systems during the 1st quarter worth about $31,000. Jones Financial Companies Lllp boosted its position in Casella Waste Systems by 156.5% during the 4th quarter. Jones Financial Companies Lllp now owns 318 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 194 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in Casella Waste Systems during the 1st quarter worth about $34,000. 99.51% of the stock is owned by institutional investors and hedge funds.

Casella Waste Systems Trading Down 0.5%

CWST stock opened at $110.59 on Monday. The company has a market cap of $7.02 billion, a P/E ratio of 502.70, a PEG ratio of 4.04 and a beta of 0.84. Casella Waste Systems, Inc. has a twelve month low of $91.01 and a twelve month high of $121.24. 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 has a fifty day moving average of $115.68 and a 200-day moving average of $112.33.

Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Thursday, May 1st. The industrial products company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. The company had revenue of $417.10 million during 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%. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 earnings per share. As a group, equities research analysts expect that Casella Waste Systems, Inc. will post 1.16 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Paul Ligon sold 2,000 shares of Casella Waste Systems stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $118.67, for a total transaction of $237,340.00. Following the completion of the sale, the senior vice president directly owned 20,347 shares of the company’s stock, valued at $2,414,578.49. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Edmond Coletta sold 5,562 shares of Casella Waste Systems stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $119.18, for a total value of $662,879.16. Following the sale, the president directly owned 150,093 shares of the company’s stock, valued at approximately $17,888,083.74. This trade represents a 3.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CWST. UBS Group raised their price objective 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. Cowen reaffirmed a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 6th. TD Cowen assumed coverage on Casella Waste Systems in a research note on Wednesday, April 9th. They set a “buy” rating and a $130.00 price target for the company. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Casella Waste Systems in a research note on Wednesday, April 16th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Casella Waste Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.67.

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.