Jennison Associates LLC Cuts Stock Position in Casella Waste Systems, Inc. $CWST

Jennison Associates LLC decreased its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 23.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,074 shares of the industrial products company’s stock after selling 46,381 shares during the quarter. Jennison Associates LLC owned about 0.24% of Casella Waste Systems worth $12,224,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CWST. Geneos Wealth Management Inc. lifted its stake in shares of Casella Waste Systems by 301.6% during the first 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. Hilton Head Capital Partners LLC purchased a new stake in shares of Casella Waste Systems during the 4th quarter valued at about $25,000. Los Angeles Capital Management LLC acquired a new position in Casella Waste Systems during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC lifted its position in Casella Waste Systems by 235.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 200 shares in the last quarter. Finally, SHP Wealth Management purchased a new position in Casella Waste Systems in the 4th quarter worth approximately $43,000. 99.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Casella Waste Systems

In related news, Director Michael K. Burke sold 2,305 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total value of $201,825.80. Following the sale, the director owned 14,048 shares of the company’s stock, valued at approximately $1,230,042.88. This trade represents a 14.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Edmond Coletta sold 12,500 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 140,118 shares in the company, valued at $12,548,968.08. The trade was a 8.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.78% of the company’s stock.

Casella Waste Systems Trading Down 3.2%

Casella Waste Systems stock opened at $90.54 on Wednesday. Casella Waste Systems, Inc. has a 1 year low of $74.05 and a 1 year high of $111.48. The firm’s 50-day moving average is $90.12 and its 200-day moving average is $91.44. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market cap of $5.76 billion, a P/E ratio of 823.17 and a beta of 0.74.

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 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 firm had revenue of $457.33 million for the quarter, compared to analyst estimates of $454.49 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. Casella Waste Systems’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts expect that Casella Waste Systems, Inc. will post 1.06 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on CWST shares. UBS Group lowered their price objective on shares of 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. Zacks Research raised shares of Casella Waste Systems from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 8th. TD Cowen restated a “buy” rating on shares of Casella Waste Systems in a research note on Friday, June 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Casella Waste Systems in a report on Friday, May 22nd. Finally, Barclays raised shares of Casella Waste Systems from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $101.00 to $102.00 in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.12.

About Casella Waste Systems

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.