Casella Waste Systems, Inc. $CWST Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC cut its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 59.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,839 shares of the industrial products company’s stock after selling 7,180 shares during the quarter. Legato Capital Management LLC’s holdings in Casella Waste Systems were worth $459,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Campbell & CO Investment Adviser LLC purchased a new stake in Casella Waste Systems in the third quarter valued at $2,707,000. UniSuper Management Pty Ltd raised its stake in shares of Casella Waste Systems by 40.9% during the 3rd quarter. UniSuper Management Pty Ltd now owns 102,003 shares of the industrial products company’s stock valued at $9,678,000 after buying an additional 29,605 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Casella Waste Systems by 33.3% in the 3rd quarter. Impax Asset Management Group plc now owns 80,000 shares of the industrial products company’s stock valued at $7,590,000 after buying an additional 20,000 shares during the period. Voya Investment Management LLC boosted its stake in shares of Casella Waste Systems by 72.1% in the third quarter. Voya Investment Management LLC now owns 536,376 shares of the industrial products company’s stock worth $50,891,000 after buying an additional 224,691 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Casella Waste Systems by 14.3% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 81,417 shares of the industrial products company’s stock worth $7,725,000 after acquiring an additional 10,207 shares during the period. 99.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CWST has been the subject of several recent research reports. Barclays lifted their price target on Casella Waste Systems from $95.00 to $101.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. JPMorgan Chase & Co. cut their target price on shares of Casella Waste Systems from $112.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Jefferies Financial Group set a $120.00 target price on shares of Casella Waste Systems and gave the company a “buy” rating in a research note on Tuesday, January 6th. Zacks Research upgraded shares of Casella Waste Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $115.00 price objective on shares of Casella Waste Systems in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.22.

Insider Transactions at Casella Waste Systems

In other Casella Waste Systems news, President Edmond Coletta sold 3,812 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $93.70, for a total value of $357,184.40. Following the transaction, the president owned 147,091 shares in the company, valued at approximately $13,782,426.70. This trade represents a 2.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Kevin Drohan sold 675 shares of the company’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $92.61, for a total transaction of $62,511.75. Following the sale, the chief accounting officer directly owned 7,462 shares of the company’s stock, valued at $691,055.82. The trade was a 8.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,213 shares of company stock valued at $1,045,887 over the last ninety days. Insiders own 3.81% of the company’s stock.

Casella Waste Systems Stock Performance

NASDAQ:CWST opened at $93.55 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $5.94 billion, a PE ratio of 779.65 and a beta of 0.80. Casella Waste Systems, Inc. has a fifty-two week low of $82.22 and a fifty-two week high of $121.24. The company has a fifty day moving average of $100.93 and a two-hundred day moving average of $95.79.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings data on Thursday, February 19th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.08. Casella Waste Systems had a return on equity of 5.17% and a net margin of 0.43%.The company had revenue of $469.06 million for the quarter, compared to analysts’ expectations of $471.32 million. During the same period in the previous year, the firm posted $0.41 EPS. Casella Waste Systems’s revenue was up 9.7% compared to the same quarter last year. As a group, research analysts forecast that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

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.