Rithm Capital Corp. Purchases New Position in Casella Waste Systems, Inc. $CWST

Rithm Capital Corp. acquired a new position in Casella Waste Systems, Inc. (NASDAQ:CWST) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,250 shares of the industrial products company’s stock, valued at approximately $655,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC bought a new stake in Casella Waste Systems in the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. increased its stake in shares of Casella Waste Systems by 301.6% during the 1st 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 during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Casella Waste Systems during the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC raised its holdings in shares of Casella Waste Systems by 41.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 98 shares in the last quarter. Finally, SHP Wealth Management acquired a new stake in shares of Casella Waste Systems in the 4th quarter valued at $43,000. Institutional investors own 99.51% of the company’s stock.

Casella Waste Systems Trading Down 0.1%

Casella Waste Systems stock opened at $89.30 on Tuesday. Casella Waste Systems, Inc. has a 52 week low of $74.05 and a 52 week high of $111.48. 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 firm has a market capitalization of $5.68 billion, a PE ratio of 811.89 and a beta of 0.74. The business’s 50-day simple moving average is $90.43 and its 200-day simple moving average is $91.15.

Casella Waste Systems (NASDAQ:CWST) last announced its earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.10. The firm had revenue of $457.33 million during the quarter, compared to the consensus estimate of $454.49 million. Casella Waste Systems had a return on equity of 5.19% and a net margin of 0.38%.The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. Equities research analysts forecast that Casella Waste Systems, Inc. will post 1.06 earnings per share for the current year.

Wall Street Analyst Weigh In

CWST has been the subject of a number of recent research reports. Barclays upgraded shares of Casella Waste Systems from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $101.00 to $102.00 in a report on Monday, May 4th. TD Cowen reissued a “buy” rating on shares of Casella Waste Systems in a research report on Friday, June 5th. UBS Group dropped their price target on shares of Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Weiss Ratings restated a “sell (d)” rating on shares of Casella Waste Systems in a research note on Friday, May 22nd. Finally, Zacks Research raised shares of Casella Waste Systems from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Casella Waste Systems presently has an average rating of “Moderate Buy” and a consensus target price of $110.12.

Insider Buying and Selling

In related news, Director Michael K. Burke sold 2,305 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $87.56, for a total transaction of $201,825.80. Following the transaction, the director owned 14,048 shares of the company’s stock, valued at approximately $1,230,042.88. The trade was a 14.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Edmond Coletta sold 12,500 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $89.56, for a total transaction of $1,119,500.00. Following the transaction, the chief executive officer directly owned 140,118 shares in the company, valued at $12,548,968.08. This trade represents a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.78% of the stock is owned by 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.