Citigroup Inc. Buys 32,682 Shares of Casella Waste Systems, Inc. (NASDAQ:CWST)

Citigroup Inc. boosted its stake in Casella Waste Systems, Inc. (NASDAQ:CWST - Free Report) by 140.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,950 shares of the industrial products company's stock after acquiring an additional 32,682 shares during the period. Citigroup Inc. owned 0.09% of Casella Waste Systems worth $5,566,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in shares of Casella Waste Systems in the 2nd quarter worth approximately $29,000. GAMMA Investing LLC lifted its position in shares of Casella Waste Systems by 76.4% during the 2nd quarter. GAMMA Investing LLC now owns 321 shares of the industrial products company's stock valued at $32,000 after buying an additional 139 shares during the last quarter. Liberty One Investment Management LLC purchased a new position in shares of Casella Waste Systems during the 2nd quarter valued at $167,000. Amalgamated Bank increased its holdings in Casella Waste Systems by 6.4% in the 3rd quarter. Amalgamated Bank now owns 2,110 shares of the industrial products company's stock worth $210,000 after acquiring an additional 126 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Casella Waste Systems by 12.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,743 shares of the industrial products company's stock valued at $272,000 after acquiring an additional 311 shares during the period. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

Casella Waste Systems Price Performance

Casella Waste Systems stock traded up $0.72 during midday trading on Monday, hitting $113.93. 298,734 shares of the company's stock were exchanged, compared to its average volume of 314,585. The company has a market cap of $7.21 billion, a P/E ratio of 943.42, a PEG ratio of 6.71 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.48 and a current ratio of 2.55. The stock has a 50-day moving average price of $103.90 and a two-hundred day moving average price of $102.65. Casella Waste Systems, Inc. has a 52-week low of $80.04 and a 52-week high of $114.64.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). Casella Waste Systems had a return on equity of 3.04% and a net margin of 0.46%. The company had revenue of $411.63 million during the quarter, compared to the consensus estimate of $412.59 million. During the same quarter last year, the company posted $0.35 earnings per share. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities research analysts forecast that Casella Waste Systems, Inc. will post 0.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. William Blair began coverage on shares of Casella Waste Systems in a research note on Thursday, October 3rd. They set an "outperform" rating on the stock. Stifel Nicolaus reiterated a "buy" rating and set a $117.00 price objective (up from $110.00) on shares of Casella Waste Systems in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft cut their target price on Casella Waste Systems from $114.00 to $107.00 and set a "hold" rating for the company in a research note on Friday, November 1st. Finally, Raymond James increased their price target on shares of Casella Waste Systems from $121.00 to $122.00 and gave the stock a "strong-buy" rating in a report on Thursday, September 19th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Casella Waste Systems currently has an average rating of "Moderate Buy" and an average target price of $111.50.

Insiders Place Their Bets

In other Casella Waste Systems news, SVP Paul Ligon sold 1,730 shares of Casella Waste Systems stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $106.81, for a total transaction of $184,781.30. Following the transaction, the senior vice president now directly owns 21,085 shares of the company's stock, valued at approximately $2,252,088.85. This trade represents a 7.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.24% of the company's stock.

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.