Moody National Bank Trust Division Buys New Shares in Casella Waste Systems, Inc. $CWST

Moody National Bank Trust Division purchased a new stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 15,194 shares of the industrial products company’s stock, valued at approximately $1,473,000.

A number of other hedge funds also recently modified their holdings of CWST. Geneos Wealth Management Inc. lifted its position in Casella Waste Systems by 301.6% in the first 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 period. Hilton Head Capital Partners LLC acquired a new position in shares of Casella Waste Systems in the 4th quarter valued at $25,000. Los Angeles Capital Management LLC bought a new stake in Casella Waste Systems in the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC raised its position in Casella Waste Systems by 235.3% in the second quarter. EverSource Wealth Advisors LLC now owns 285 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 200 shares in the last quarter. Finally, SHP Wealth Management acquired a new position in Casella Waste Systems in the fourth quarter worth about $43,000. Institutional investors own 99.51% of the company’s stock.

Insiders Place Their Bets

In other news, Director Michael K. Burke sold 2,305 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $87.56, for a total transaction of $201,825.80. Following the sale, the director owned 14,048 shares in the company, valued at approximately $1,230,042.88. This represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edmond Coletta sold 12,500 shares of the firm’s 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 approximately $12,548,968.08. This trade represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.78% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on CWST shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Casella Waste Systems in a research report on Friday, May 22nd. UBS Group cut their price objective on Casella Waste Systems from $130.00 to $122.00 and set a “buy” rating for the company in a report on Friday, June 26th. Barclays upgraded shares of Casella Waste Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $101.00 to $102.00 in a research note on Monday, May 4th. Zacks Research raised shares of Casella Waste Systems from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 8th. Finally, TD Cowen reiterated a “buy” rating on shares of Casella Waste Systems in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Casella Waste Systems currently has a consensus rating of “Moderate Buy” and an average target price of $110.12.

Casella Waste Systems Stock Down 1.6%

NASDAQ CWST opened at $90.04 on Thursday. The firm has a market cap of $5.73 billion, a PE ratio of 818.62 and a beta of 0.74. Casella Waste Systems, Inc. has a one year low of $74.05 and a one year high of $107.96. The stock’s 50 day simple moving average is $90.92 and its 200 day simple moving average is $90.64. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 1.38.

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.