Jennison Associates LLC Has $34.63 Million Stock Position in Casella Waste Systems, Inc. (NASDAQ:CWST)

Jennison Associates LLC grew its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 9.0% in the 4th quarter, HoldingsChannel reports. The fund owned 405,230 shares of the industrial products company’s stock after purchasing an additional 33,528 shares during the quarter. Jennison Associates LLC’s holdings in Casella Waste Systems were worth $34,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Impax Asset Management Group plc acquired a new stake in Casella Waste Systems during the 4th quarter worth approximately $5,128,000. TimesSquare Capital Management LLC boosted its position in shares of Casella Waste Systems by 18.5% in the third quarter. TimesSquare Capital Management LLC now owns 946,497 shares of the industrial products company’s stock valued at $72,218,000 after acquiring an additional 147,805 shares during the period. WCM Investment Management LLC grew its stake in shares of Casella Waste Systems by 8.7% in the fourth quarter. WCM Investment Management LLC now owns 227,195 shares of the industrial products company’s stock valued at $19,543,000 after acquiring an additional 18,216 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Casella Waste Systems during the third quarter worth about $1,705,000. Finally, Comerica Bank raised its stake in Casella Waste Systems by 911.9% in the 3rd quarter. Comerica Bank now owns 228,737 shares of the industrial products company’s stock worth $17,453,000 after purchasing an additional 206,133 shares in the last quarter. Institutional investors own 99.51% of the company’s stock.

Insider Activity at Casella Waste Systems

In other news, President Edmond Coletta sold 8,271 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $90.30, for a total value of $746,871.30. Following the completion of the transaction, the president now owns 168,556 shares of the company’s stock, valued at $15,220,606.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Edmond Coletta sold 8,271 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $90.30, for a total transaction of $746,871.30. Following the completion of the transaction, the president now directly owns 168,556 shares in the company, valued at $15,220,606.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John W. Casella sold 1,673 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 35,189 shares of the company’s stock, valued at $3,312,340.57. The disclosure for this sale can be found here. Insiders have sold 11,238 shares of company stock valued at $1,026,395 over the last ninety days. 4.75% of the stock is owned by corporate insiders.

Casella Waste Systems Stock Performance

Shares of Casella Waste Systems stock opened at $94.99 on Thursday. The company has a 50 day moving average of $94.37 and a 200-day moving average of $86.64. The company has a market cap of $5.51 billion, a PE ratio of 211.09, a price-to-earnings-growth ratio of 6.19 and a beta of 0.90. The company has a current ratio of 1.53, a quick ratio of 1.46 and a debt-to-equity ratio of 0.99. Casella Waste Systems, Inc. has a 1-year low of $72.97 and a 1-year high of $100.29.

Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Friday, February 16th. The industrial products company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Casella Waste Systems had a net margin of 2.01% and a return on equity of 5.81%. The business had revenue of $359.57 million during the quarter, compared to analyst estimates of $360.08 million. During the same period in the prior year, the business posted $0.18 EPS. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. As a group, equities research analysts forecast that Casella Waste Systems, Inc. will post 0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CWST. Wells Fargo & Company increased their target price on shares of Casella Waste Systems from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. StockNews.com upgraded Casella Waste Systems from a “sell” rating to a “hold” rating in a research note on Friday, February 16th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Casella Waste Systems presently has an average rating of “Buy” and an average price target of $99.71.

About Casella Waste Systems

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.