Pictet Asset Management Holding SA Has $73.34 Million Stake in Casella Waste Systems, Inc. $CWST

Pictet Asset Management Holding SA trimmed its stake in Casella Waste Systems, Inc. (NASDAQ:CWST) by 6.7% in the first quarter, Holdings Channel.com reports. The firm owned 924,375 shares of the industrial products company’s stock after selling 66,276 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Casella Waste Systems were worth $73,336,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CWST. Vanguard Group Inc. increased its stake in Casella Waste Systems by 9.7% in the 4th quarter. Vanguard Group Inc. now owns 6,574,893 shares of the industrial products company’s stock valued at $643,945,000 after buying an additional 581,310 shares during the period. Aberdeen Group plc boosted its stake in shares of Casella Waste Systems by 79.2% during the 4th quarter. Aberdeen Group plc now owns 186,992 shares of the industrial products company’s stock valued at $18,314,000 after buying an additional 82,616 shares during the period. Comerica Bank grew its holdings in shares of Casella Waste Systems by 11.3% during the 3rd quarter. Comerica Bank now owns 550,557 shares of the industrial products company’s stock valued at $52,237,000 after acquiring an additional 55,821 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Casella Waste Systems by 103.4% in the fourth quarter. SG Americas Securities LLC now owns 24,268 shares of the industrial products company’s stock worth $2,377,000 after acquiring an additional 12,334 shares during the last quarter. Finally, Yousif Capital Management LLC acquired a new position in shares of Casella Waste Systems in the fourth quarter worth $1,784,000. 99.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays raised Casella Waste Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $101.00 to $102.00 in a research report on Monday, May 4th. TD Cowen reaffirmed a “buy” rating on shares of Casella Waste Systems in a research report on Friday, June 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Casella Waste Systems in a research note on Friday, May 22nd. Zacks Research lowered Casella Waste Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 9th. Finally, UBS Group lowered their price target on Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating for the company in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.12.

Casella Waste Systems Stock Down 0.1%

Casella Waste Systems stock opened at $94.28 on Tuesday. The company has a market capitalization of $6.00 billion, a P/E ratio of 857.17 and a beta of 0.77. The firm’s fifty day simple moving average is $85.35 and its 200-day simple moving average is $91.81. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.72. Casella Waste Systems, Inc. has a 1-year low of $74.05 and a 1-year high of $116.45.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 0.38% and a return on equity of 5.19%. Casella Waste Systems’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 EPS. Sell-side analysts forecast that Casella Waste Systems, Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michael K. Burke sold 2,305 shares of the company’s stock in a transaction dated 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 sale, the director owned 14,048 shares in the company, valued at approximately $1,230,042.88. This represents a 14.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Edmond Coletta sold 12,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 140,118 shares in the company, valued at approximately $12,548,968.08. This represents a 8.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.78% of the stock is owned by company insiders.

Casella Waste Systems Company 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.