Casella Waste Systems, Inc. (NASDAQ:CWST) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lessened its holdings in Casella Waste Systems, Inc. (NASDAQ:CWST) by 4.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,068,552 shares of the industrial products company’s stock after selling 52,161 shares during the period. Fred Alger Management LLC’s holdings in Casella Waste Systems were worth $106,310,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in Casella Waste Systems in the 2nd quarter valued at $29,000. GAMMA Investing LLC grew its stake in shares of Casella Waste Systems by 76.4% in the second quarter. GAMMA Investing LLC now owns 321 shares of the industrial products company’s stock valued at $32,000 after buying an additional 139 shares in the last quarter. Liberty One Investment Management LLC purchased a new stake in shares of Casella Waste Systems during the 2nd quarter valued at about $167,000. Amalgamated Bank raised its holdings in shares of Casella Waste Systems by 6.4% during the 3rd quarter. Amalgamated Bank now owns 2,110 shares of the industrial products company’s stock valued at $210,000 after buying an additional 126 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Casella Waste Systems by 12.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,743 shares of the industrial products company’s stock worth $272,000 after acquiring an additional 311 shares in the last quarter. Hedge funds and other institutional investors own 99.51% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Paul Ligon sold 1,730 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $106.81, for a total value of $184,781.30. Following the sale, the senior vice president now owns 21,085 shares of the company’s stock, valued at approximately $2,252,088.85. This trade represents a 7.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.24% of the stock is currently owned by corporate insiders.

Casella Waste Systems Trading Up 0.7 %

NASDAQ CWST opened at $112.28 on Friday. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 935.67, a price-to-earnings-growth ratio of 6.65 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.55 and a quick ratio of 2.48. Casella Waste Systems, Inc. has a 12 month low of $79.16 and a 12 month high of $114.56. The company’s fifty day moving average price is $103.41 and its two-hundred day moving average price is $102.40.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The firm had revenue of $411.63 million during the quarter, compared to analyst estimates of $412.59 million. Casella Waste Systems had a return on equity of 3.04% and a net margin of 0.46%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the business posted $0.35 earnings per share. As a group, research analysts predict that Casella Waste Systems, Inc. will post 0.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on CWST shares. Raymond James increased their price objective on shares of Casella Waste Systems from $121.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 19th. William Blair assumed coverage on shares of Casella Waste Systems in a research note on Thursday, October 3rd. They set an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Casella Waste Systems from $114.00 to $107.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Finally, Stifel Nicolaus restated a “buy” rating and set a $117.00 target price (up from $110.00) on shares of Casella Waste Systems in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.50.

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.