Victory Capital Management Inc. Buys 80,864 Shares of Casella Waste Systems, Inc. $CWST

Victory Capital Management Inc. grew its position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 73.7% during the third quarter, Holdings Channel.com reports. The fund owned 190,551 shares of the industrial products company’s stock after purchasing an additional 80,864 shares during the quarter. Victory Capital Management Inc.’s holdings in Casella Waste Systems were worth $18,079,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its position in shares of Casella Waste Systems by 5.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 3,115 shares of the industrial products company’s stock valued at $359,000 after purchasing an additional 158 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Casella Waste Systems by 301.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 184 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Casella Waste Systems by 180.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 191 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Casella Waste Systems by 235.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company’s stock valued at $33,000 after buying an additional 200 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of Casella Waste Systems by 3.5% during the 3rd quarter. Park Avenue Securities LLC now owns 8,058 shares of the industrial products company’s stock worth $765,000 after buying an additional 276 shares in the last quarter. Institutional investors own 99.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group set a $120.00 target price on Casella Waste Systems and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Raymond James Financial reiterated a “strong-buy” rating and set a $115.00 price target on shares of Casella Waste Systems in a report on Monday, February 23rd. Weiss Ratings cut Casella Waste Systems from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, February 23rd. Zacks Research upgraded Casella Waste Systems from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Finally, UBS Group lowered their target price on Casella Waste Systems from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $113.11.

Insider Activity

In other news, CAO Kevin Drohan sold 675 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $92.61, for a total value of $62,511.75. Following the sale, the chief accounting officer owned 7,462 shares of the company’s stock, valued at $691,055.82. The trade was a 8.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John W. Casella sold 6,726 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $93.10, for a total transaction of $626,190.60. Following the sale, the chief executive officer owned 27,989 shares in the company, valued at $2,605,775.90. The trade was a 19.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,213 shares of company stock valued at $1,045,887 over the last quarter. Company insiders own 3.81% of the company’s stock.

Casella Waste Systems Stock Down 6.9%

CWST stock opened at $89.17 on Wednesday. The stock has a fifty day moving average of $100.38 and a 200-day moving average of $95.58. Casella Waste Systems, Inc. has a fifty-two week low of $82.22 and a fifty-two week high of $121.24. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 743.15 and a beta of 0.80. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. The business had revenue of $469.06 million for the quarter, compared to analysts’ expectations of $471.32 million. Casella Waste Systems had a return on equity of 5.17% and a net margin of 0.43%.The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 EPS. As a group, equities research analysts predict that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current 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.