California Public Employees Retirement System Has $2.42 Million Position in Casella Waste Systems Inc. (CWST)
California Public Employees Retirement System lifted its holdings in Casella Waste Systems Inc. (NASDAQ:CWST) by 15.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,899 shares of the industrial products company’s stock after buying an additional 17,499 shares during the quarter. California Public Employees Retirement System’s holdings in Casella Waste Systems were worth $2,423,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in Casella Waste Systems by 206.2% during the second quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 4,922 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Casella Waste Systems during the second quarter worth $186,000. Tudor Investment Corp ET AL boosted its position in Casella Waste Systems by 24.5% during the second quarter. Tudor Investment Corp ET AL now owns 13,374 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 2,633 shares in the last quarter. Voya Investment Management LLC purchased a new stake in Casella Waste Systems during the second quarter worth $274,000. Finally, AXA boosted its position in Casella Waste Systems by 24.7% during the second quarter. AXA now owns 22,690 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 4,500 shares in the last quarter. Hedge funds and other institutional investors own 79.30% of the company’s stock.
A number of analysts have commented on the company. Zacks Investment Research downgraded Casella Waste Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Stifel Nicolaus reiterated a “hold” rating and set a $22.00 target price on shares of Casella Waste Systems in a research report on Thursday, January 4th. BidaskClub upgraded Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 29th. Finally, KeyCorp reissued a “buy” rating on shares of Casella Waste Systems in a report on Friday, October 13th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $19.00.
In related news, CEO John W. Casella sold 62,433 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $19.31, for a total value of $1,205,581.23. Following the completion of the transaction, the chief executive officer now directly owns 472,112 shares in the company, valued at $9,116,482.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Edwin D. Johnson sold 99,091 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $21.01, for a total value of $2,081,901.91. Following the completion of the transaction, the chief operating officer now owns 469,500 shares of the company’s stock, valued at $9,864,195. The disclosure for this sale can be found here. Over the last three months, insiders sold 200,524 shares of company stock valued at $4,077,303. Insiders own 11.47% of the company’s stock.
Casella Waste Systems Inc. (NASDAQ CWST) opened at $24.29 on Thursday. Casella Waste Systems Inc. has a 1-year low of $11.15 and a 1-year high of $24.30. The firm has a market capitalization of $1,020.00, a price-to-earnings ratio of -18.68 and a beta of 0.72. The company has a debt-to-equity ratio of -7.91, a current ratio of 0.98 and a quick ratio of 0.91.
Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. Casella Waste Systems had a negative return on equity of 56.99% and a negative net margin of 9.09%. The company had revenue of $160.27 million during the quarter, compared to analysts’ expectations of $154.61 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. equities research analysts anticipate that Casella Waste Systems Inc. will post 0.64 EPS for the current year.
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Casella Waste Systems Profile
Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.
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