Cynosure Group LLC Boosts Holdings in Casella Waste Systems, Inc. (NASDAQ:CWST)

Cynosure Group LLC raised its stake in Casella Waste Systems, Inc. (NASDAQ:CWST) by 9.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,193 shares of the industrial products company’s stock after acquiring an additional 369 shares during the quarter. Cynosure Group LLC’s holdings in Casella Waste Systems were worth $417,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CWST. Harbor Capital Advisors Inc. boosted its holdings in shares of Casella Waste Systems by 108.0% during the third quarter. Harbor Capital Advisors Inc. now owns 66,129 shares of the industrial products company’s stock worth $6,579,000 after purchasing an additional 34,340 shares during the last quarter. Williams Financial LLC purchased a new position in Casella Waste Systems in the second quarter valued at approximately $2,427,000. Millennium Management LLC lifted its holdings in shares of Casella Waste Systems by 667.9% during the 2nd quarter. Millennium Management LLC now owns 48,231 shares of the industrial products company’s stock valued at $4,785,000 after acquiring an additional 41,950 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Casella Waste Systems by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 861,463 shares of the industrial products company’s stock worth $85,476,000 after buying an additional 26,189 shares during the period. Finally, MQS Management LLC acquired a new stake in Casella Waste Systems during the 3rd quarter valued at $562,000. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Casella Waste Systems

In other news, SVP Paul Ligon sold 1,730 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $106.81, for a total transaction of $184,781.30. Following the completion of the sale, the senior vice president now owns 21,085 shares in the company, valued at approximately $2,252,088.85. This represents a 7.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.24% of the stock is owned by company insiders.

Casella Waste Systems Price Performance

Shares of CWST opened at $112.28 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.55 and a quick ratio of 2.48. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 935.67, a P/E/G ratio of 6.69 and a beta of 0.99. The business’s 50-day moving average is $103.18 and its 200-day moving average is $102.33. Casella Waste Systems, Inc. has a fifty-two week low of $79.16 and a fifty-two week high of $114.56.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). Casella Waste Systems had a return on equity of 3.04% and a net margin of 0.46%. The firm had revenue of $411.63 million for the quarter, compared to analysts’ expectations of $412.59 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. Casella Waste Systems’s revenue was up 16.7% on a year-over-year basis. Equities research analysts expect that Casella Waste Systems, Inc. will post 0.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CWST has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Casella Waste Systems from $114.00 to $107.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Stifel Nicolaus restated a “buy” rating and set a $117.00 price objective (up previously from $110.00) on shares of Casella Waste Systems in a research report on Monday, August 5th. William Blair started coverage on shares of Casella Waste Systems in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Finally, Raymond James lifted their price objective on shares of Casella Waste Systems from $121.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Casella Waste Systems currently has an average rating of “Moderate Buy” and a consensus target price of $111.50.

About Casella Waste Systems

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.