Nationwide Fund Advisors Grows Stake in Casella Waste Systems Inc. (CWST)
Nationwide Fund Advisors increased its stake in shares of Casella Waste Systems Inc. (NASDAQ:CWST) by 104.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,208 shares of the industrial products company’s stock after purchasing an additional 59,881 shares during the period. Nationwide Fund Advisors owned approximately 0.28% of Casella Waste Systems worth $1,923,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its holdings in shares of Casella Waste Systems by 206.2% during the second quarter. BNP Paribas Arbitrage SA now owns 7,309 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 4,922 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Casella Waste Systems during the first quarter valued at approximately $144,000. Simplex Trading LLC raised its holdings in shares of Casella Waste Systems by 596.4% during the second quarter. Simplex Trading LLC now owns 9,931 shares of the industrial products company’s stock valued at $162,000 after purchasing an additional 8,505 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of Casella Waste Systems during the first quarter valued at approximately $163,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Casella Waste Systems during the first quarter valued at approximately $164,000. 77.40% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the stock. KeyCorp reissued a “buy” rating on shares of Casella Waste Systems in a report on Friday. Stifel Nicolaus cut shares of Casella Waste Systems from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a report on Wednesday, October 4th. Zacks Investment Research cut shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, BidaskClub raised shares of Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $16.83.
In related news, Director William P. Hulligan sold 20,000 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $16.15, for a total value of $323,000.00. Following the completion of the transaction, the director now directly owns 96,760 shares of the company’s stock, valued at approximately $1,562,674. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael K. Burke sold 31,500 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $564,795.00. Following the transaction, the director now directly owns 116,514 shares of the company’s stock, valued at $2,089,096.02. The disclosure for this sale can be found here. Company insiders own 11.50% of the company’s stock.
Shares of Casella Waste Systems Inc. (CWST) opened at 17.89 on Tuesday. Casella Waste Systems Inc. has a 12 month low of $10.44 and a 12 month high of $19.13. The company’s 50-day moving average is $17.80 and its 200 day moving average is $16.03. The company’s market capitalization is $752.02 million.
Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The company had revenue of $154.02 million during the quarter, compared to analysts’ expectations of $149.88 million. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 earnings per share. On average, equities research analysts anticipate that Casella Waste Systems Inc. will post $0.61 earnings per share for the current year.
About Casella Waste Systems
Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.
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