Summit Creek Advisors LLC Acquires New Position in Casella Waste Systems, Inc. $CWST

Summit Creek Advisors LLC purchased a new stake in Casella Waste Systems, Inc. (NASDAQ:CWST) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 98,633 shares of the industrial products company’s stock, valued at approximately $9,564,000. Casella Waste Systems makes up 3.3% of Summit Creek Advisors LLC’s holdings, making the stock its 3rd biggest holding. Summit Creek Advisors LLC owned 0.16% of Casella Waste Systems as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CWST. Trust Co. of Vermont purchased a new position in Casella Waste Systems in the 2nd quarter valued at approximately $148,000. Wasatch Advisors LP raised its stake in shares of Casella Waste Systems by 36.8% during the 2nd quarter. Wasatch Advisors LP now owns 3,531,594 shares of the industrial products company’s stock worth $342,459,000 after buying an additional 949,374 shares during the last quarter. First Bank & Trust purchased a new stake in shares of Casella Waste Systems in the 2nd quarter worth about $202,000. Revolve Wealth Partners LLC acquired a new stake in Casella Waste Systems in the 2nd quarter valued at about $210,000. Finally, Gradient Investments LLC grew its stake in Casella Waste Systems by 3.6% in the 2nd quarter. Gradient Investments LLC now owns 26,652 shares of the industrial products company’s stock valued at $2,584,000 after acquiring an additional 932 shares during the last quarter. 99.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Casella Waste Systems

In other news, Director Michael K. Burke sold 2,305 shares of the business’s stock in a transaction 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. The trade was a 14.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas R. Casella sold 15,157 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $91.05, for a total value of $1,380,044.85. Following the sale, the director owned 91,484 shares of the company’s stock, valued at approximately $8,329,618.20. The trade was a 14.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,805 shares of company stock valued at $1,704,245 in the last ninety days. 3.78% of the stock is currently owned by company insiders.

Casella Waste Systems Price Performance

Shares of NASDAQ:CWST opened at $89.91 on Wednesday. The company has a market cap of $5.72 billion, a P/E ratio of 999.11 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.84. Casella Waste Systems, Inc. has a 52 week low of $74.05 and a 52 week high of $107.96. The business has a fifty day simple moving average of $91.99 and a 200-day simple moving average of $89.68.

Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Thursday, August 6th. The industrial products company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm had revenue of $543.75 million for the quarter, compared to the consensus estimate of $526.43 million. Casella Waste Systems had a return on equity of 5.32% and a net margin of 0.29%.The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 earnings per share. Equities research analysts forecast that Casella Waste Systems, Inc. will post 1.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CWST shares. Zacks Research upgraded Casella Waste Systems from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded Casella Waste Systems from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday. Barclays raised their price target on Casella Waste Systems from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. JPMorgan Chase & Co. reduced their price objective on Casella Waste Systems from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 5th. One 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $109.75.

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.