Sei Investments Co. Cuts Holdings in Casella Waste Systems Inc. (CWST)

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Sei Investments Co. trimmed its position in shares of Casella Waste Systems Inc. (NASDAQ:CWST) by 17.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 159,093 shares of the industrial products company’s stock after selling 33,174 shares during the quarter. Sei Investments Co.’s holdings in Casella Waste Systems were worth $4,075,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CWST. Wells Fargo & Company MN boosted its position in Casella Waste Systems by 237.1% during the 1st quarter. Wells Fargo & Company MN now owns 829,885 shares of the industrial products company’s stock valued at $19,403,000 after acquiring an additional 583,679 shares in the last quarter. SG Americas Securities LLC bought a new stake in Casella Waste Systems during the 1st quarter valued at approximately $142,000. State Board of Administration of Florida Retirement System boosted its position in Casella Waste Systems by 35.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 23,609 shares of the industrial products company’s stock valued at $552,000 after acquiring an additional 6,188 shares in the last quarter. Swiss National Bank boosted its position in Casella Waste Systems by 3.3% during the 1st quarter. Swiss National Bank now owns 68,000 shares of the industrial products company’s stock valued at $1,590,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Casella Waste Systems during the 1st quarter valued at approximately $309,000. 84.60% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Christopher Heald sold 4,000 shares of Casella Waste Systems stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $24.56, for a total transaction of $98,240.00. Following the completion of the transaction, the vice president now directly owns 89,484 shares in the company, valued at $2,197,727.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William P. Hulligan sold 10,000 shares of Casella Waste Systems stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $28.85, for a total transaction of $288,500.00. Following the transaction, the director now owns 69,484 shares of the company’s stock, valued at $2,004,613.40. The disclosure for this sale can be found here. Insiders have sold 73,081 shares of company stock valued at $1,901,870 over the last quarter. Company insiders own 11.47% of the company’s stock.

Several research firms have weighed in on CWST. BidaskClub cut Casella Waste Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. Stifel Nicolaus lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Monday, August 6th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a report on Monday, July 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.00.

CWST stock opened at $27.79 on Thursday. Casella Waste Systems Inc. has a 52-week low of $16.01 and a 52-week high of $29.75. The company has a market cap of $1.19 billion, a PE ratio of 44.08 and a beta of 0.94. The company has a quick ratio of 0.94, a current ratio of 1.01 and a debt-to-equity ratio of -14.47.

Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Thursday, August 2nd. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). Casella Waste Systems had a net margin of 4.79% and a negative return on equity of 63.60%. The business had revenue of $165.65 million for the quarter, compared to analysts’ expectations of $158.95 million. During the same quarter in the previous year, the business posted $0.25 earnings per share. Casella Waste Systems’s revenue for the quarter was up 7.6% on a year-over-year basis. sell-side analysts predict that Casella Waste Systems Inc. will post 0.67 EPS for the current year.

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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Institutional Ownership by Quarter for Casella Waste Systems (NASDAQ:CWST)

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