William Blair Investment Management LLC Takes Position in Casella Waste Systems Inc. (CWST)
William Blair Investment Management LLC purchased a new stake in Casella Waste Systems Inc. (NASDAQ:CWST) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 532,563 shares of the industrial products company’s stock, valued at approximately $16,541,000. William Blair Investment Management LLC owned about 1.24% of Casella Waste Systems at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sawtooth Solutions LLC acquired a new stake in Casella Waste Systems during the 2nd quarter worth about $212,000. Schwab Charles Investment Management Inc. raised its holdings in Casella Waste Systems by 3.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 207,710 shares of the industrial products company’s stock worth $5,320,000 after buying an additional 6,314 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in Casella Waste Systems by 14.5% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 41,440 shares of the industrial products company’s stock worth $1,287,000 after buying an additional 5,234 shares during the period. Renaissance Technologies LLC raised its holdings in Casella Waste Systems by 2.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,442,142 shares of the industrial products company’s stock worth $88,153,000 after buying an additional 73,900 shares during the period. Finally, First Trust Advisors LP acquired a new stake in Casella Waste Systems during the 2nd quarter worth about $3,404,000. 85.40% of the stock is owned by institutional investors.
Several research firms have issued reports on CWST. ValuEngine upgraded Casella Waste Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. BidaskClub upgraded Casella Waste Systems from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. Raymond James boosted their price objective on Casella Waste Systems from $33.00 to $35.00 and gave the stock a “strong-buy” rating in a report on Friday, September 7th. Finally, Zacks Investment Research upgraded Casella Waste Systems from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Tuesday, September 18th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $31.50.
Shares of CWST opened at $32.55 on Wednesday. The stock has a market capitalization of $1.40 billion, a PE ratio of 48.58 and a beta of 0.89. Casella Waste Systems Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $34.48.
Casella Waste Systems (NASDAQ:CWST) last issued its earnings results on Thursday, November 1st. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The business had revenue of $172.83 million during the quarter, compared to analyst estimates of $172.77 million. Casella Waste Systems had a net margin of 6.30% and a negative return on equity of 94.81%. Casella Waste Systems’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. Sell-side analysts forecast that Casella Waste Systems Inc. will post 0.68 earnings per share for the current fiscal year.
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About Casella Waste Systems
Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically-integrated solid waste services company in the northeastern United States. The company operates through Eastern Region, Western Region, Recycling, and Other segments. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, and industrial customers.
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