Jennison Associates LLC Has $39.82 Million Stake in Casella Waste Systems, Inc. (NASDAQ:CWST)

Jennison Associates LLC lowered its stake in shares of Casella Waste Systems, Inc. (NASDAQ:CWST) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 402,747 shares of the industrial products company’s stock after selling 2,483 shares during the quarter. Jennison Associates LLC owned about 0.69% of Casella Waste Systems worth $39,820,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CWST. Johnson Financial Group Inc. acquired a new stake in Casella Waste Systems during the fourth quarter worth approximately $28,000. Parallel Advisors LLC grew its position in Casella Waste Systems by 232.0% during the fourth 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. Harbor Investment Advisory LLC grew its position in Casella Waste Systems by 484.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 444 shares of the industrial products company’s stock worth $38,000 after buying an additional 368 shares in the last quarter. Headlands Technologies LLC grew its position in Casella Waste Systems by 124.3% during the fourth quarter. Headlands Technologies LLC now owns 758 shares of the industrial products company’s stock worth $65,000 after buying an additional 420 shares in the last quarter. Finally, YHB Investment Advisors Inc. acquired a new stake in Casella Waste Systems during the first quarter worth approximately $65,000. Institutional investors and hedge funds own 99.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on Casella Waste Systems in a research report on Thursday, May 23rd. They set a “hold” rating and a $106.00 price target on the stock. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.40.

Casella Waste Systems Price Performance

NASDAQ CWST traded up $2.13 on Monday, hitting $100.06. 304,513 shares of the company’s stock were exchanged, compared to its average volume of 279,802. The stock has a 50-day moving average of $97.40 and a 200-day moving average of $92.96. The company has a current ratio of 1.58, a quick ratio of 1.50 and a debt-to-equity ratio of 0.96. Casella Waste Systems, Inc. has a 52 week low of $72.97 and a 52 week high of $101.99. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 322.77, a P/E/G ratio of 6.19 and a beta of 0.98.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Friday, April 26th. The industrial products company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Casella Waste Systems had a return on equity of 4.47% and a net margin of 1.32%. The company had revenue of $341.00 million during the quarter, compared to analysts’ expectations of $340.70 million. During the same period in the prior year, the company earned $0.10 EPS. Casella Waste Systems’s revenue was up 29.9% compared to the same quarter last year. Analysts expect that Casella Waste Systems, Inc. will post 0.79 earnings per share for the current year.

About Casella Waste Systems

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.