Rutabaga Capital Management LLC MA Sells 214,207 Shares of Casella Waste Systems, Inc. (CWST)

Rutabaga Capital Management LLC MA reduced its stake in Casella Waste Systems, Inc. (NASDAQ:CWST) by 25.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 620,691 shares of the industrial products company’s stock after selling 214,207 shares during the period. Casella Waste Systems makes up about 1.9% of Rutabaga Capital Management LLC MA’s investment portfolio, making the stock its 23rd biggest holding. Rutabaga Capital Management LLC MA owned approximately 1.48% of Casella Waste Systems worth $10,186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CWST. State Board of Administration of Florida Retirement System grew its stake in shares of Casella Waste Systems by 0.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,853 shares of the industrial products company’s stock valued at $322,000 after acquiring an additional 151 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Casella Waste Systems by 3.3% during the second quarter. The Manufacturers Life Insurance Company now owns 32,060 shares of the industrial products company’s stock valued at $526,000 after acquiring an additional 1,016 shares in the last quarter. American International Group Inc. grew its stake in shares of Casella Waste Systems by 7.1% during the first quarter. American International Group Inc. now owns 23,804 shares of the industrial products company’s stock valued at $336,000 after acquiring an additional 1,570 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Casella Waste Systems by 2.6% during the second quarter. Teachers Advisors LLC now owns 72,443 shares of the industrial products company’s stock valued at $1,189,000 after acquiring an additional 1,821 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in shares of Casella Waste Systems by 24.5% during the second quarter. Tudor Investment Corp ET AL now owns 13,374 shares of the industrial products company’s stock valued at $219,000 after acquiring an additional 2,633 shares in the last quarter. Hedge funds and other institutional investors own 77.40% of the company’s stock.

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Shares of Casella Waste Systems, Inc. (NASDAQ:CWST) traded down 0.94% during mid-day trading on Friday, hitting $17.98. The stock had a trading volume of 43,547 shares. The stock’s market cap is $755.81 million. The stock has a 50-day moving average price of $17.73 and a 200 day moving average price of $15.97. Casella Waste Systems, Inc. has a 52 week low of $10.44 and a 52 week high of $19.13.

Casella Waste Systems (NASDAQ:CWST) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. Casella Waste Systems had a negative net margin of 10.01% and a negative return on equity of 60.26%. The company had revenue of $154.02 million for the quarter, compared to the consensus estimate of $149.88 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that Casella Waste Systems, Inc. will post $0.61 EPS for the current fiscal year.

Several analysts have recently weighed in on CWST shares. Stifel Nicolaus restated a “buy” rating and set a $19.00 target price on shares of Casella Waste Systems in a research note on Friday, July 28th. BidaskClub upgraded Casella Waste Systems from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Zacks Investment Research downgraded Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Barclays PLC started coverage on Casella Waste Systems in a research note on Friday, June 23rd. They set an “overweight” rating and a $19.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Casella Waste Systems presently has a consensus rating of “Hold” and a consensus target price of $16.83.

In other news, Director William P. Hulligan sold 20,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $16.15, for a total transaction of $323,000.00. Following the transaction, the director now owns 96,760 shares in the company, valued at approximately $1,562,674. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael K. Burke sold 31,500 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $17.93, for a total transaction of $564,795.00. Following the transaction, the director now owns 116,514 shares in the company, valued at approximately $2,089,096.02. The disclosure for this sale can be found here. Insiders own 11.50% of the company’s stock.

About Casella Waste Systems

Casella Waste Systems, Inc is a solid waste services company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. It manages its solid waste operations on a geographic basis through two regional operating segments: Eastern and Western regions, each of which provides a range of solid waste services, and its recycling and commodity brokerage operations through its Recycling segment.

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

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