Casella Waste Systems, Inc. $CWST Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 23.1% in the first quarter, HoldingsChannel reports. The fund owned 154,074 shares of the industrial products company’s stock after selling 46,381 shares during the period. Jennison Associates LLC’s holdings in Casella Waste Systems were worth $12,224,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. AQR Capital Management LLC raised its stake in shares of Casella Waste Systems by 57.7% during the first quarter. AQR Capital Management LLC now owns 9,283 shares of the industrial products company’s stock valued at $1,035,000 after purchasing an additional 3,395 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Casella Waste Systems by 1,601.9% during the 1st quarter. Jones Financial Companies Lllp now owns 5,412 shares of the industrial products company’s stock valued at $603,000 after buying an additional 5,094 shares during the period. Jane Street Group LLC increased its stake in Casella Waste Systems by 3,226.1% during the 1st quarter. Jane Street Group LLC now owns 69,849 shares of the industrial products company’s stock valued at $7,789,000 after buying an additional 67,749 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Casella Waste Systems by 301.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock worth $27,000 after buying an additional 184 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Casella Waste Systems during the 2nd quarter worth about $63,000. Institutional investors own 99.51% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Casella Waste Systems

In related news, CEO Edmond Coletta sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total value of $1,119,500.00. Following the completion of the sale, the chief executive officer owned 140,118 shares in the company, valued at approximately $12,548,968.08. This represents a 8.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael K. Burke sold 2,305 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total transaction of $201,825.80. Following the completion of the transaction, the director directly owned 14,048 shares of the company’s stock, valued at $1,230,042.88. This represents a 14.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.78% of the company’s stock.

Casella Waste Systems Stock Performance

Shares of NASDAQ CWST opened at $90.54 on Wednesday. The stock’s fifty day simple moving average is $90.12 and its 200 day simple moving average is $91.44. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 823.17 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. 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 quarterly earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.10. The business had revenue of $457.33 million during the quarter, compared to analyst estimates of $454.49 million. Casella Waste Systems had a return on equity of 5.19% and a net margin of 0.38%.Casella Waste Systems’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the company posted $0.19 EPS. As a group, sell-side analysts forecast 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.