SouthState Corp Invests $76,000 in Casella Waste Systems, Inc. (NASDAQ:CWST)

SouthState Corp bought a new stake in Casella Waste Systems, Inc. (NASDAQ:CWST) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,000 shares of the industrial products company’s stock, valued at approximately $76,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CWST. RE Advisers Corp grew its holdings in shares of Casella Waste Systems by 57.7% in the third quarter. RE Advisers Corp now owns 339 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 124 shares during the period. Harbor Investment Advisory LLC boosted its stake in shares of Casella Waste Systems by 42.2% in the third quarter. Harbor Investment Advisory LLC now owns 852 shares of the industrial products company’s stock worth $65,000 after acquiring an additional 253 shares during the period. Mascoma Wealth Management LLC purchased a new stake in shares of Casella Waste Systems in the third quarter worth about $122,000. Lloyd Advisory Services LLC. lifted its position in shares of Casella Waste Systems by 68.9% in the third quarter. Lloyd Advisory Services LLC. now owns 1,665 shares of the industrial products company’s stock worth $126,000 after buying an additional 679 shares in the last quarter. Finally, Allworth Financial LP purchased a new stake in Casella Waste Systems during the third quarter valued at approximately $164,000. Institutional investors own 96.65% of the company’s stock.

In related news, COO Edwin D. Johnson sold 3,300 shares of the business’s stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $88.18, for a total transaction of $290,994.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William P. Hulligan sold 10,000 shares of the business’s stock in a transaction on Friday, November 19th. The stock was sold at an average price of $87.01, for a total transaction of $870,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,685 shares of company stock worth $1,816,439. 6.04% of the stock is currently owned by insiders.

NASDAQ CWST opened at $76.31 on Friday. The stock has a 50-day simple moving average of $84.37 and a two-hundred day simple moving average of $76.36. The firm has a market capitalization of $3.92 billion, a P/E ratio of 41.03, a PEG ratio of 5.14 and a beta of 0.93. Casella Waste Systems, Inc. has a fifty-two week low of $53.89 and a fifty-two week high of $89.84. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.88 and a current ratio of 0.94.

Casella Waste Systems (NASDAQ:CWST) last posted its earnings results on Thursday, October 28th. The industrial products company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.07. Casella Waste Systems had a return on equity of 11.49% and a net margin of 11.19%. The firm had revenue of $241.97 million for the quarter, compared to analysts’ expectations of $226.97 million. During the same period last year, the firm earned $0.37 EPS. The company’s quarterly revenue was up 19.4% on a year-over-year basis. As a group, analysts forecast that Casella Waste Systems, Inc. will post 0.88 earnings per share for the current year.

A number of research analysts have recently commented on CWST shares. Raymond James cut their target price on Casella Waste Systems from $100.00 to $95.00 and set a “strong-buy” rating on the stock in a research note on Monday, January 10th. Zacks Investment Research cut Casella Waste Systems from a “buy” rating to a “hold” rating in a research report on Wednesday.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc engages in the provision of resource management and services to residential, commercial, municipal and industrial customers, in the areas of solid waste collection, transfer, disposal, recycling and organics services. It operates through the following segments: Eastern Region, Western Region, Recycling and Other segments.

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Institutional Ownership by Quarter for Casella Waste Systems (NASDAQ:CWST)

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