Y Intercept Hong Kong Ltd Makes New $3.72 Million Investment in Casella Waste Systems, Inc. $CWST

Y Intercept Hong Kong Ltd purchased a new position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) during the first quarter, Holdings Channel reports. The institutional investor purchased 46,878 shares of the industrial products company’s stock, valued at approximately $3,719,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA grew its holdings in Casella Waste Systems by 10,865.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 990,651 shares of the industrial products company’s stock worth $97,040,000 after acquiring an additional 981,617 shares in the last quarter. State Street Corp lifted its holdings in Casella Waste Systems by 60.7% during the fourth quarter. State Street Corp now owns 2,306,780 shares of the industrial products company’s stock worth $225,926,000 after buying an additional 871,761 shares during the period. Alliancebernstein L.P. boosted its position in Casella Waste Systems by 1,106.7% during the 2nd quarter. Alliancebernstein L.P. now owns 867,285 shares of the industrial products company’s stock valued at $100,067,000 after acquiring an additional 795,414 shares in the last quarter. UBS Group AG boosted its position in Casella Waste Systems by 653.2% during the 4th quarter. UBS Group AG now owns 841,897 shares of the industrial products company’s stock valued at $82,455,000 after acquiring an additional 730,128 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Casella Waste Systems by 9.7% during 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 acquiring an additional 581,310 shares in the last quarter. 99.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CWST has been the subject of several recent research reports. UBS Group reduced their price target on Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Casella Waste Systems in a research note on Friday, May 22nd. Barclays upgraded shares of 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 reaffirmed a “buy” rating on shares of Casella Waste Systems in a research report on Friday, June 5th. Finally, Zacks Research lowered shares of Casella Waste Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. One equities 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 given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $110.12.

Casella Waste Systems Stock Performance

Shares of CWST stock traded up $1.42 during mid-day trading on Tuesday, reaching $97.69. The stock had a trading volume of 137,272 shares, compared to its average volume of 768,046. Casella Waste Systems, Inc. has a 1-year low of $74.05 and a 1-year high of $113.95. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 884.81 and a beta of 0.74. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.72. The business’s fifty day moving average is $86.95 and its 200-day moving average is $91.72.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.10. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The company had revenue of $457.33 million for the quarter, compared to the consensus estimate of $454.49 million. During the same quarter in the prior year, the company earned $0.19 EPS. Casella Waste Systems’s quarterly revenue was up 9.6% on a year-over-year basis. On average, research analysts forecast that Casella Waste Systems, Inc. will post 1.12 earnings per share for the current year.

Insider Buying and Selling at Casella Waste Systems

In other Casella Waste Systems news, Director Michael K. Burke sold 2,305 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total value of $201,825.80. Following the sale, the director directly owned 14,048 shares of the company’s stock, valued at approximately $1,230,042.88. This represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edmond Coletta sold 12,500 shares of Casella Waste Systems 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 owned 140,118 shares of the company’s stock, valued at $12,548,968.08. The trade was a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.78% of the stock is currently owned by corporate insiders.

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.