Public Sector Pension Investment Board Invests $12.25 Million in Casella Waste Systems, Inc. (NASDAQ:CWST)

Public Sector Pension Investment Board purchased a new position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 123,073 shares of the industrial products company’s stock, valued at approximately $12,245,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. MetLife Investment Management LLC grew its stake in Casella Waste Systems by 6.2% in the 3rd quarter. MetLife Investment Management LLC now owns 35,058 shares of the industrial products company’s stock valued at $3,488,000 after acquiring an additional 2,049 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Casella Waste Systems in the 3rd quarter valued at about $14,924,000. Blueshift Asset Management LLC purchased a new position in Casella Waste Systems in the third quarter valued at approximately $407,000. Cynosure Group LLC raised its holdings in Casella Waste Systems by 9.6% in the third quarter. Cynosure Group LLC now owns 4,193 shares of the industrial products company’s stock valued at $417,000 after buying an additional 369 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Casella Waste Systems by 41.4% in the third quarter. BNP Paribas Financial Markets now owns 32,206 shares of the industrial products company’s stock valued at $3,204,000 after buying an additional 9,424 shares during the period. 99.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CWST shares. William Blair started coverage on shares of Casella Waste Systems in a report on Thursday, October 3rd. They issued an “outperform” rating on the stock. Stifel Nicolaus restated a “buy” rating and issued a $117.00 price target (up previously from $110.00) on shares of Casella Waste Systems in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Casella Waste Systems from $114.00 to $107.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Finally, Raymond James increased 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 report 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Casella Waste Systems has an average rating of “Moderate Buy” and an average price target of $111.50.

Casella Waste Systems Stock Up 0.7 %

Shares of NASDAQ:CWST opened at $112.28 on Friday. Casella Waste Systems, Inc. has a 52-week low of $79.16 and a 52-week high of $114.56. The company has a quick ratio of 2.48, a current ratio of 2.55 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 935.67, a price-to-earnings-growth ratio of 6.69 and a beta of 0.99. The company has a 50 day moving average of $103.41 and a two-hundred day moving average of $102.40.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $411.63 million for the quarter, compared to analyst estimates of $412.59 million. During the same period in the previous year, the business posted $0.35 EPS. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, analysts forecast that Casella Waste Systems, Inc. will post 0.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Casella Waste Systems news, SVP Paul Ligon sold 1,730 shares of Casella Waste Systems stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $106.81, for a total value of $184,781.30. Following the completion of the transaction, the senior vice president now owns 21,085 shares of the company’s stock, valued at $2,252,088.85. The trade was a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.24% of the stock is currently owned by corporate insiders.

Casella Waste Systems Profile

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.