Tower Research Capital LLC TRC Reduces Position in Casella Waste Systems, Inc. (NASDAQ:CWST)

Tower Research Capital LLC TRC lowered its stake in Casella Waste Systems, Inc. (NASDAQ:CWST) by 61.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 660 shares of the industrial products company’s stock after selling 1,067 shares during the period. Tower Research Capital LLC TRC’s holdings in Casella Waste Systems were worth $70,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wasatch Advisors LP raised its stake in Casella Waste Systems by 48.2% in the 4th quarter. Wasatch Advisors LP now owns 2,577,308 shares of the industrial products company’s stock worth $272,705,000 after acquiring an additional 838,086 shares during the last quarter. Norges Bank purchased a new stake in Casella Waste Systems in the fourth quarter valued at $43,785,000. Raymond James Financial Inc. acquired a new stake in Casella Waste Systems during the 4th quarter worth about $31,326,000. Wellington Management Group LLP raised its stake in shares of Casella Waste Systems by 13.1% during the 4th quarter. Wellington Management Group LLP now owns 1,644,476 shares of the industrial products company’s stock valued at $174,002,000 after buying an additional 190,023 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Casella Waste Systems by 23.9% in the 4th quarter. American Century Companies Inc. now owns 716,267 shares of the industrial products company’s stock valued at $75,788,000 after buying an additional 138,229 shares during the period. 99.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. TD Cowen assumed coverage on Casella Waste Systems in a report on Wednesday, April 9th. They set a “buy” rating and a $130.00 target price on the stock. Stifel Nicolaus lifted their price objective on Casella Waste Systems from $127.00 to $129.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. UBS Group increased their target price on Casella Waste Systems from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, April 11th. Raymond James reiterated a “strong-buy” rating on shares of Casella Waste Systems in a research report on Wednesday, April 16th. Finally, William Blair reaffirmed an “outperform” rating on shares of Casella Waste Systems in a research note on Friday, February 14th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.67.

Casella Waste Systems Stock Performance

NASDAQ CWST opened at $118.50 on Friday. Casella Waste Systems, Inc. has a fifty-two week low of $91.01 and a fifty-two week high of $121.24. The firm has a market capitalization of $7.51 billion, a P/E ratio of 515.22, a price-to-earnings-growth ratio of 3.86 and a beta of 0.89. The stock’s fifty day moving average is $112.84 and its two-hundred day moving average is $109.80. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.48 and a current ratio of 2.00.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. The firm had revenue of $417.10 million during the quarter, compared to analyst estimates of $403.64 million. Casella Waste Systems had a net margin of 0.87% and a return on equity of 4.15%. Casella Waste Systems’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. On average, research analysts anticipate that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current year.

Insider Activity at Casella Waste Systems

In other Casella Waste Systems news, President Edmond Coletta sold 5,562 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $662,879.16. Following the completion of the transaction, the president now owns 150,093 shares of the company’s stock, valued at $17,888,083.74. This trade represents a 3.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Paul Ligon sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $118.67, for a total transaction of $237,340.00. Following the completion of the sale, the senior vice president now directly owns 20,347 shares in the company, valued at $2,414,578.49. This trade represents a 8.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.24% of the stock is currently owned by insiders.

Casella Waste Systems Company Profile

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.