Granahan Investment Management LLC Cuts Stock Holdings in Casella Waste Systems, Inc. $CWST

Granahan Investment Management LLC trimmed its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 18.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 257,715 shares of the industrial products company’s stock after selling 56,629 shares during the period. Casella Waste Systems accounts for 1.1% of Granahan Investment Management LLC’s portfolio, making the stock its 27th largest holding. Granahan Investment Management LLC’s holdings in Casella Waste Systems were worth $25,241,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Hilton Head Capital Partners LLC purchased a new position in Casella Waste Systems during the fourth quarter valued at $25,000. Smartleaf Asset Management LLC grew its stake in Casella Waste Systems by 180.2% during the third quarter. Smartleaf Asset Management LLC now owns 297 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 191 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Casella Waste Systems by 301.6% during the first quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 184 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Casella Waste Systems during the fourth quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC grew its stake in Casella Waste Systems by 41.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 337 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 98 shares in the last quarter. 99.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on CWST shares. JPMorgan Chase & Co. lowered their price objective on shares of Casella Waste Systems from $112.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Casella Waste Systems in a research report on Friday, May 22nd. UBS Group lowered their price objective on shares of Casella Waste Systems from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Zacks Research lowered shares of Casella Waste Systems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 9th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $115.00 price objective on shares of Casella Waste Systems in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.13.

Casella Waste Systems Price Performance

Casella Waste Systems stock opened at $86.65 on Wednesday. The firm has a 50-day moving average price of $84.58 and a 200-day moving average price of $92.25. The firm has a market capitalization of $5.51 billion, a PE ratio of 787.80 and a beta of 0.77. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.72. Casella Waste Systems, Inc. has a 12-month low of $74.05 and a 12-month high of $118.42.

Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Thursday, April 30th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.10. The firm had revenue of $457.33 million during the quarter, compared to analyst estimates of $454.49 million. Casella Waste Systems had a net margin of 0.38% and a return on equity of 5.19%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business earned $0.19 EPS. As a group, equities research analysts forecast that Casella Waste Systems, Inc. will post 1.12 EPS for the current year.

Insider Activity

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

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.