JPMorgan Chase & Co. Sells 190,291 Shares of Casella Waste Systems, Inc. (NASDAQ:CWST)

JPMorgan Chase & Co. cut its holdings in Casella Waste Systems, Inc. (NASDAQ:CWST) by 8.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,999,851 shares of the industrial products company’s stock after selling 190,291 shares during the quarter. JPMorgan Chase & Co. owned approximately 3.16% of Casella Waste Systems worth $198,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CWST. Harbor Capital Advisors Inc. grew its position in shares of Casella Waste Systems by 108.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 66,129 shares of the industrial products company’s stock worth $6,579,000 after buying an additional 34,340 shares during the last quarter. Millennium Management LLC boosted its holdings in Casella Waste Systems by 667.9% in the second quarter. Millennium Management LLC now owns 48,231 shares of the industrial products company’s stock valued at $4,785,000 after acquiring an additional 41,950 shares in the last quarter. Geode Capital Management LLC increased its position in Casella Waste Systems by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,430,958 shares of the industrial products company’s stock valued at $142,393,000 after purchasing an additional 109,288 shares during the period. Dimensional Fund Advisors LP raised its holdings in Casella Waste Systems by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 861,463 shares of the industrial products company’s stock worth $85,476,000 after purchasing an additional 26,189 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Casella Waste Systems in the 3rd quarter worth about $562,000. Hedge funds and other institutional investors own 99.51% of the company’s stock.

Casella Waste Systems Stock Performance

Casella Waste Systems stock opened at $105.42 on Tuesday. The stock’s 50 day moving average is $107.07 and its 200 day moving average is $104.08. The company has a market capitalization of $6.67 billion, a P/E ratio of 878.50, a PEG ratio of 6.53 and a beta of 1.02. Casella Waste Systems, Inc. has a twelve month low of $80.04 and a twelve month high of $114.88. The company has a quick ratio of 2.48, a current ratio of 2.55 and a debt-to-equity ratio of 0.68.

Casella Waste Systems (NASDAQ:CWST) last released its earnings results on Wednesday, October 30th. The industrial products company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $411.63 million during the quarter, compared to analysts’ expectations of $412.59 million. Casella Waste Systems had a return on equity of 3.04% and a net margin of 0.46%. The company’s revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. On average, equities research analysts predict 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 the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $106.81, for a total transaction of $184,781.30. Following the sale, the senior vice president now directly owns 21,085 shares in the company, valued at approximately $2,252,088.85. This trade represents a 7.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CWST. Stifel Nicolaus increased their price target on shares of Casella Waste Systems from $117.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Raymond James raised their target price on Casella Waste Systems from $121.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 19th. William Blair initiated coverage on Casella Waste Systems in a research note on Thursday, October 3rd. They issued an “outperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on 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. Two investment 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 company’s stock. According to data from MarketBeat, Casella Waste Systems has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

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.