SG Capital Management LLC Invests $26.91 Million in Casella Waste Systems, Inc. (NASDAQ:CWST)

SG Capital Management LLC bought a new position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 254,297 shares of the industrial products company’s stock, valued at approximately $26,907,000. Casella Waste Systems accounts for approximately 2.6% of SG Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding.

A number of other large investors have also recently bought and sold shares of the company. Bank of Montreal Can grew its holdings in Casella Waste Systems by 71.7% during the fourth quarter. Bank of Montreal Can now owns 5,200 shares of the industrial products company’s stock worth $550,000 after acquiring an additional 2,172 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Casella Waste Systems by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 607,954 shares of the industrial products company’s stock worth $64,328,000 after purchasing an additional 14,369 shares in the last quarter. Empowered Funds LLC purchased a new stake in Casella Waste Systems in the 4th quarter worth approximately $201,000. Principal Securities Inc. grew its stake in shares of Casella Waste Systems by 11.0% during the 4th quarter. Principal Securities Inc. now owns 1,979 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 196 shares during the period. Finally, Barclays PLC increased its holdings in shares of Casella Waste Systems by 29.0% during the 3rd quarter. Barclays PLC now owns 131,906 shares of the industrial products company’s stock valued at $13,122,000 after purchasing an additional 29,686 shares in the last quarter. Hedge funds and other institutional investors own 99.51% of the company’s stock.

Casella Waste Systems Stock Performance

NASDAQ:CWST opened at $113.53 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.48 and a current ratio of 2.00. The stock has a market capitalization of $7.20 billion, a PE ratio of 493.61, a P/E/G ratio of 3.86 and a beta of 0.89. Casella Waste Systems, Inc. has a fifty-two week low of $91.01 and a fifty-two week high of $121.24. The company has a fifty day moving average of $112.96 and a two-hundred day moving average of $110.05.

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

Analyst Ratings Changes

CWST has been the topic of a number of recent analyst reports. Raymond James reissued a “strong-buy” rating on shares of Casella Waste Systems in a report on Wednesday, April 16th. UBS Group upped their price objective on shares of Casella Waste Systems from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Stifel Nicolaus increased their target price on shares of Casella Waste Systems from $127.00 to $129.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Jefferies Financial Group lowered Casella Waste Systems from a “buy” rating to a “hold” rating and cut their price target for the company from $115.00 to $113.00 in a research note on Thursday, January 23rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Casella Waste Systems in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.67.

Insider Activity

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 value of $662,879.16. Following the completion of the sale, the president now owns 150,093 shares in the company, valued at approximately $17,888,083.74. This represents a 3.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Paul Ligon sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $118.67, for a total transaction of $237,340.00. Following the completion of the transaction, 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. Company insiders own 4.24% of the company’s stock.

Casella Waste Systems 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.