Casella Waste Systems, Inc. $CWST Stock Position Cut by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 6.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 924,375 shares of the industrial products company’s stock after selling 66,276 shares during the period. Pictet Asset Management Holding SA owned approximately 1.46% of Casella Waste Systems worth $73,336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CWST. Vanguard Group Inc. boosted its stake in Casella Waste Systems by 9.7% during the fourth quarter. Vanguard Group Inc. now owns 6,574,893 shares of the industrial products company’s stock valued at $643,945,000 after buying an additional 581,310 shares in the last quarter. Aberdeen Group plc raised its position in Casella Waste Systems by 79.2% in the fourth quarter. Aberdeen Group plc now owns 186,992 shares of the industrial products company’s stock worth $18,314,000 after acquiring an additional 82,616 shares in the last quarter. Comerica Bank lifted its holdings in Casella Waste Systems by 11.3% in the 3rd quarter. Comerica Bank now owns 550,557 shares of the industrial products company’s stock valued at $52,237,000 after acquiring an additional 55,821 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Casella Waste Systems by 103.4% in the 4th quarter. SG Americas Securities LLC now owns 24,268 shares of the industrial products company’s stock valued at $2,377,000 after acquiring an additional 12,334 shares during the last quarter. Finally, Yousif Capital Management LLC bought a new position in shares of Casella Waste Systems during the 4th quarter valued at about $1,784,000. 99.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating on the stock in a research note on Friday. Zacks Research cut shares of Casella Waste Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 9th. Weiss Ratings restated a “sell (d)” rating on shares of Casella Waste Systems in a report on Friday, May 22nd. TD Cowen restated a “buy” rating on shares of Casella Waste Systems in a research report on Friday, June 5th. Finally, Barclays raised Casella Waste Systems from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $101.00 to $102.00 in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Casella Waste Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.12.

Casella Waste Systems Price Performance

NASDAQ CWST opened at $94.28 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.72. Casella Waste Systems, Inc. has a 1 year low of $74.05 and a 1 year high of $116.45. The company has a market cap of $6.00 billion, a PE ratio of 857.17 and a beta of 0.77. The stock’s 50-day moving average price is $85.35 and its two-hundred day moving average price is $91.81.

Casella Waste Systems (NASDAQ:CWST) last announced its earnings results on Thursday, April 30th. The industrial products company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.10 by $0.10. The company had revenue of $457.33 million during the quarter, compared to analysts’ expectations of $454.49 million. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the company posted $0.19 earnings per share. On average, analysts predict that Casella Waste Systems, Inc. will post 1.12 EPS for the current year.

Insider Activity at Casella Waste Systems

In other Casella Waste Systems 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 sale, the director directly owned 14,048 shares of the company’s stock, valued at $1,230,042.88. The trade was a 14.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edmond Coletta sold 12,500 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $89.56, for a total value of $1,119,500.00. Following the completion of the sale, the chief executive officer owned 140,118 shares of the company’s stock, valued at $12,548,968.08. The trade was a 8.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.78% of the stock is currently owned by corporate 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.