ProShare Advisors LLC Trims Stake in Casella Waste Systems, Inc. (NASDAQ:CWST)

ProShare Advisors LLC cut its position in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 25.5% in the second quarter, Holdings Channel.com reports. The firm owned 7,568 shares of the industrial products company’s stock after selling 2,584 shares during the quarter. ProShare Advisors LLC’s holdings in Casella Waste Systems were worth $751,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Wasatch Advisors LP bought a new stake in Casella Waste Systems in the first quarter worth about $91,317,000. Capital Research Global Investors lifted its stake in shares of Casella Waste Systems by 277.1% during the 1st quarter. Capital Research Global Investors now owns 723,405 shares of the industrial products company’s stock worth $71,523,000 after acquiring an additional 531,573 shares during the last quarter. Norges Bank purchased a new position in Casella Waste Systems during the 4th quarter valued at $25,106,000. Conestoga Capital Advisors LLC grew its position in Casella Waste Systems by 7.7% in the 1st quarter. Conestoga Capital Advisors LLC now owns 3,284,975 shares of the industrial products company’s stock valued at $324,785,000 after acquiring an additional 235,260 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Casella Waste Systems by 17.8% in the 4th quarter. Wellington Management Group LLP now owns 983,826 shares of the industrial products company’s stock valued at $84,078,000 after acquiring an additional 148,913 shares during the last quarter. 99.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CWST shares. Stifel Nicolaus reissued a “buy” rating and set a $117.00 target price (up from $110.00) on shares of Casella Waste Systems in a research note on Monday, August 5th. Raymond James boosted 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 investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $108.20.

Casella Waste Systems Stock Up 0.1 %

Shares of Casella Waste Systems stock opened at $98.36 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.51. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 317.29, a PEG ratio of 7.89 and a beta of 0.99. The firm’s 50-day moving average is $104.14 and its two-hundred day moving average is $99.71. Casella Waste Systems, Inc. has a 1 year low of $72.97 and a 1 year high of $109.08.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.06). The business had revenue of $377.20 million for the quarter, compared to the consensus estimate of $373.87 million. Casella Waste Systems had a net margin of 1.35% and a return on equity of 3.83%. Casella Waste Systems’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 earnings per share. As a group, research analysts expect that Casella Waste Systems, Inc. will post 0.62 earnings per share for the current fiscal year.

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.