Granite Investment Partners LLC Sells 45,460 Shares of Casella Waste Systems, Inc. (NASDAQ:CWST)

Granite Investment Partners LLC reduced its stake in Casella Waste Systems, Inc. (NASDAQ:CWST) by 9.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 448,770 shares of the industrial products company’s stock after selling 45,460 shares during the quarter. Casella Waste Systems accounts for 1.8% of Granite Investment Partners LLC’s investment portfolio, making the stock its 5th largest position. Granite Investment Partners LLC owned 0.77% of Casella Waste Systems worth $44,527,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. New Covenant Trust Company N.A. acquired a new stake in Casella Waste Systems during the 1st quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in Casella Waste Systems during the 2nd quarter worth approximately $29,000. GAMMA Investing LLC lifted its holdings in Casella Waste Systems by 76.4% during the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the industrial products company’s stock worth $32,000 after buying an additional 139 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Casella Waste Systems during the 4th quarter worth approximately $28,000. Finally, Parallel Advisors LLC lifted its holdings in Casella Waste Systems by 232.0% during the 4th quarter. Parallel Advisors LLC now owns 332 shares of the industrial products company’s stock worth $28,000 after buying an additional 232 shares in the last quarter. 99.51% of the stock is currently owned by institutional investors and hedge funds.

Casella Waste Systems Trading Up 0.7 %

Shares of Casella Waste Systems stock opened at $101.23 on Friday. Casella Waste Systems, Inc. has a 1 year low of $72.97 and a 1 year high of $109.08. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.51 and a current ratio of 1.58. The company has a market capitalization of $5.87 billion, a P/E ratio of 326.55, a PEG ratio of 9.08 and a beta of 0.99. The company’s fifty day moving average is $104.87 and its two-hundred day moving average is $99.40.

Casella Waste Systems (NASDAQ:CWST) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.06). Casella Waste Systems had a return on equity of 3.83% and a net margin of 1.35%. The business had revenue of $377.20 million for the quarter, compared to analysts’ expectations of $373.87 million. During the same period in the previous year, the business posted $0.36 earnings per share. The company’s revenue for the quarter was up 30.2% on a year-over-year basis. Analysts forecast that Casella Waste Systems, Inc. will post 0.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CWST. Deutsche Bank Aktiengesellschaft began coverage on shares of Casella Waste Systems in a report on Thursday, May 23rd. They issued a “hold” rating and a $106.00 price objective on the stock. Stifel Nicolaus restated a “buy” rating and issued a $117.00 price objective (up from $110.00) on shares of Casella Waste Systems in a report on Monday, August 5th. Finally, Raymond James raised 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 report on Thursday. 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.20.

Casella Waste Systems Company 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.