Victory Capital Management Inc. Acquires 80,864 Shares of Casella Waste Systems, Inc. $CWST

Victory Capital Management Inc. grew its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 73.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 190,551 shares of the industrial products company’s stock after acquiring an additional 80,864 shares during the period. Victory Capital Management Inc. owned about 0.30% of Casella Waste Systems worth $18,079,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CWST. Smartleaf Asset Management LLC grew its stake in shares of Casella Waste Systems by 180.2% in the third quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 191 shares during the last quarter. Geneos Wealth Management Inc. raised its position in 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. First Horizon Corp bought a new position in Casella Waste Systems during the 3rd quarter worth $31,000. EverSource Wealth Advisors LLC lifted its holdings in Casella Waste Systems by 235.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company’s stock worth $33,000 after buying an additional 200 shares during the period. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in Casella Waste Systems during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 99.51% of the company’s stock.

Insider Activity at Casella Waste Systems

In other Casella Waste Systems news, President Edmond Coletta sold 3,812 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $93.70, for a total transaction of $357,184.40. Following the completion of the sale, the president directly owned 147,091 shares of the company’s stock, valued at approximately $13,782,426.70. The trade was a 2.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John W. Casella sold 6,726 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $93.10, for a total value of $626,190.60. Following the completion of the sale, the chief executive officer directly owned 27,989 shares of the company’s stock, valued at approximately $2,605,775.90. This trade represents a 19.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 11,213 shares of company stock valued at $1,045,887. 3.81% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on CWST. JPMorgan Chase & Co. decreased their price target on Casella Waste Systems from $112.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Raymond James Financial reissued a “strong-buy” rating and set a $115.00 target price on shares of Casella Waste Systems in a research report on Monday, February 23rd. Barclays boosted their price target on shares of Casella Waste Systems from $95.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. 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, UBS Group lowered their target price on shares of Casella Waste Systems from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Casella Waste Systems presently has an average rating of “Moderate Buy” and an average price target of $113.11.

Casella Waste Systems Stock Performance

NASDAQ CWST opened at $89.17 on Wednesday. The company has a market cap of $5.66 billion, a P/E ratio of 743.15 and a beta of 0.80. The company has a fifty day simple moving average of $100.38 and a 200 day simple moving average of $95.58. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. Casella Waste Systems, Inc. has a 12-month low of $82.22 and a 12-month high of $121.24.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings data on Thursday, February 19th. The industrial products company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.08. The firm had revenue of $469.06 million for the quarter, compared to the consensus estimate of $471.32 million. Casella Waste Systems had a net margin of 0.43% and a return on equity of 5.17%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. Sell-side analysts predict 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.