Silvercrest Asset Management Group LLC Grows Position in Casella Waste Systems Inc. (NASDAQ:CWST)

Silvercrest Asset Management Group LLC raised its holdings in shares of Casella Waste Systems Inc. (NASDAQ:CWST) by 31.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,477,530 shares of the industrial products company’s stock after purchasing an additional 353,885 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 3.10% of Casella Waste Systems worth $58,554,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Dorsey Wright & Associates lifted its holdings in Casella Waste Systems by 33.3% during the second quarter. Dorsey Wright & Associates now owns 1,028 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 257 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Casella Waste Systems by 0.4% during the first quarter. California Public Employees Retirement System now owns 111,984 shares of the industrial products company’s stock valued at $3,982,000 after buying an additional 493 shares during the period. Bessemer Group Inc. increased its position in shares of Casella Waste Systems by 1.2% during the second quarter. Bessemer Group Inc. now owns 42,000 shares of the industrial products company’s stock valued at $1,664,000 after buying an additional 500 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Casella Waste Systems by 1.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 50,548 shares of the industrial products company’s stock valued at $2,003,000 after buying an additional 788 shares during the period. Finally, SeaCrest Wealth Management LLC increased its position in shares of Casella Waste Systems by 10.0% during the second quarter. SeaCrest Wealth Management LLC now owns 8,800 shares of the industrial products company’s stock valued at $349,000 after buying an additional 800 shares during the period. 88.85% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Joseph Doody sold 2,262 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $45.55, for a total value of $103,034.10. Following the transaction, the director now directly owns 94,416 shares in the company, valued at $4,300,648.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Christopher Heald acquired 8,012 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average price of $12.48 per share, for a total transaction of $99,989.76. Following the completion of the transaction, the vice president now owns 50,361 shares of the company’s stock, valued at approximately $628,505.28. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 312,256 shares of company stock worth $14,207,139. 9.65% of the stock is owned by company insiders.



Shares of CWST stock traded up $0.61 during trading on Tuesday, hitting $41.95. The company had a trading volume of 3,451 shares, compared to its average volume of 289,830. The company has a quick ratio of 0.82, a current ratio of 0.88 and a debt-to-equity ratio of 5.71. The stock’s 50-day moving average is $44.36 and its two-hundred day moving average is $39.35. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 68.89 and a beta of 0.85. Casella Waste Systems Inc. has a 52 week low of $24.61 and a 52 week high of $47.72.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The company had revenue of $187.46 million for the quarter, compared to analysts’ expectations of $184.08 million. Casella Waste Systems had a net margin of 2.69% and a return on equity of 76.51%. Casella Waste Systems’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 earnings per share. On average, research analysts predict that Casella Waste Systems Inc. will post 0.83 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on the company. Raymond James upped their price target on Casella Waste Systems from $43.00 to $52.00 and gave the company a “strong-buy” rating in a research report on Monday, August 5th. ValuEngine cut Casella Waste Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. BidaskClub cut Casella Waste Systems from a “hold” rating to a “sell” rating in a research report on Thursday, September 12th. Finally, Zacks Investment Research cut Casella Waste Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $44.25.

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, Western, 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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