Casella Waste Systems, Inc. (NASDAQ:CWST) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC cut its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 4.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,068,552 shares of the industrial products company’s stock after selling 52,161 shares during the quarter. Fred Alger Management LLC owned about 1.69% of Casella Waste Systems worth $106,310,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in Casella Waste Systems during the second quarter worth $29,000. GAMMA Investing LLC boosted its position in shares of Casella Waste Systems by 76.4% in the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the industrial products company’s stock worth $32,000 after buying an additional 139 shares in the last quarter. Liberty One Investment Management LLC purchased a new stake in shares of Casella Waste Systems in the 2nd quarter worth about $167,000. Amalgamated Bank grew its stake in Casella Waste Systems by 6.4% in the 3rd quarter. Amalgamated Bank now owns 2,110 shares of the industrial products company’s stock valued at $210,000 after acquiring an additional 126 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Casella Waste Systems by 12.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,743 shares of the industrial products company’s stock valued at $272,000 after acquiring an additional 311 shares in the last quarter. Hedge funds and other institutional investors own 99.51% of the company’s stock.

Wall Street Analyst Weigh In

CWST has been the topic of several recent research reports. Raymond James upped their price target on shares of Casella Waste Systems from $121.00 to $122.00 and gave the company a “strong-buy” rating in a report on Thursday, September 19th. William Blair assumed coverage on Casella Waste Systems in a report on Thursday, October 3rd. They set an “outperform” rating on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $117.00 price target (up from $110.00) on shares of Casella Waste Systems in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Casella Waste Systems from $114.00 to $107.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Casella Waste Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.50.

Casella Waste Systems Trading Up 0.7 %

Shares of Casella Waste Systems stock opened at $112.28 on Friday. Casella Waste Systems, Inc. has a fifty-two week low of $79.16 and a fifty-two week high of $114.56. The business’s fifty day moving average is $103.41 and its two-hundred day moving average is $102.40. The company has a quick ratio of 2.48, a current ratio of 2.55 and a debt-to-equity ratio of 0.68. The firm has a market cap of $7.11 billion, a PE ratio of 935.67, a P/E/G ratio of 6.65 and a beta of 0.99.

Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Wednesday, October 30th. The industrial products company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business had revenue of $411.63 million for the quarter, compared to analysts’ expectations of $412.59 million. Casella Waste Systems had a return on equity of 3.04% and a net margin of 0.46%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 earnings per share. Analysts anticipate that Casella Waste Systems, Inc. will post 0.65 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Paul Ligon sold 1,730 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $106.81, for a total value of $184,781.30. Following the transaction, the senior vice president now directly owns 21,085 shares of the company’s stock, valued at approximately $2,252,088.85. This trade represents a 7.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.24% of the company’s stock.

About Casella Waste Systems

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.