abrdn plc Reduces Stock Position in Casella Waste Systems, Inc. (NASDAQ:CWST)

abrdn plc cut its holdings in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 13.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 296,513 shares of the industrial products company’s stock after selling 46,436 shares during the quarter. abrdn plc’s holdings in Casella Waste Systems were worth $25,340,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Federated Hermes Inc. purchased a new stake in Casella Waste Systems during the 4th quarter worth approximately $1,105,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Casella Waste Systems by 5.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,709 shares of the industrial products company’s stock valued at $1,086,000 after acquiring an additional 704 shares during the last quarter. Strs Ohio increased its holdings in shares of Casella Waste Systems by 21.8% in the 4th quarter. Strs Ohio now owns 55,900 shares of the industrial products company’s stock valued at $4,777,000 after acquiring an additional 10,000 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of Casella Waste Systems by 8.7% in the 4th quarter. WCM Investment Management LLC now owns 227,195 shares of the industrial products company’s stock valued at $19,543,000 after acquiring an additional 18,216 shares during the last quarter. Finally, Genesee Capital Advisors LLC increased its holdings in shares of Casella Waste Systems by 10.0% in the 4th quarter. Genesee Capital Advisors LLC now owns 7,273 shares of the industrial products company’s stock valued at $622,000 after acquiring an additional 664 shares during the last quarter. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Casella Waste Systems Price Performance

Shares of CWST opened at $95.43 on Wednesday. The company has a market cap of $5.53 billion, a P/E ratio of 212.07, a PEG ratio of 6.06 and a beta of 0.90. The stock has a fifty day moving average price of $94.31 and a 200 day moving average price of $86.59. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.53 and a quick ratio of 1.46. Casella Waste Systems, Inc. has a 12 month low of $72.97 and a 12 month high of $100.29.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings data on Friday, February 16th. The industrial products company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). The company had revenue of $359.57 million for the quarter, compared to the consensus estimate of $360.08 million. Casella Waste Systems had a return on equity of 5.81% and a net margin of 2.01%. Casella Waste Systems’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 earnings per share. On average, research analysts forecast that Casella Waste Systems, Inc. will post 0.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CWST shares. StockNews.com upgraded Casella Waste Systems from a “sell” rating to a “hold” rating in a report on Friday, February 16th. Wells Fargo & Company boosted their price target on Casella Waste Systems from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $99.71.

Insiders Place Their Bets

In other Casella Waste Systems news, President Edmond Coletta sold 8,271 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $90.30, for a total transaction of $746,871.30. Following the completion of the transaction, the president now owns 168,556 shares in the company, valued at approximately $15,220,606.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Casella Waste Systems news, CEO John W. Casella sold 1,673 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $94.13, for a total transaction of $157,479.49. Following the completion of the transaction, the chief executive officer now owns 35,189 shares in the company, valued at approximately $3,312,340.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Edmond Coletta sold 8,271 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $90.30, for a total value of $746,871.30. Following the transaction, the president now owns 168,556 shares of the company’s stock, valued at approximately $15,220,606.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,238 shares of company stock worth $1,026,395. 5.05% of the stock is owned by company insiders.

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.