Corebridge Financial Inc. Trims Stake in Casella Waste Systems, Inc. (NASDAQ:CWST)

Corebridge Financial Inc. lessened its position in Casella Waste Systems, Inc. (NASDAQ:CWST) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,046 shares of the industrial products company’s stock after selling 1,966 shares during the quarter. Corebridge Financial Inc.’s holdings in Casella Waste Systems were worth $3,285,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Advantage Alpha Capital Partners LP lifted its position in Casella Waste Systems by 29.7% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 52,735 shares of the industrial products company’s stock valued at $5,580,000 after buying an additional 12,082 shares during the period. Summit Creek Advisors LLC boosted its stake in Casella Waste Systems by 59.8% during the fourth quarter. Summit Creek Advisors LLC now owns 179,037 shares of the industrial products company’s stock worth $18,944,000 after acquiring an additional 66,990 shares in the last quarter. Vanguard Group Inc. grew its holdings in Casella Waste Systems by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 6,110,529 shares of the industrial products company’s stock worth $646,555,000 after purchasing an additional 123,001 shares during the period. LPL Financial LLC increased its stake in shares of Casella Waste Systems by 37.9% during the fourth quarter. LPL Financial LLC now owns 25,067 shares of the industrial products company’s stock valued at $2,652,000 after purchasing an additional 6,888 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Casella Waste Systems during the fourth quarter valued at approximately $1,693,000. 99.51% of the stock is currently owned by institutional investors.

Casella Waste Systems Stock Performance

Shares of CWST opened at $111.51 on Tuesday. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 484.83, a P/E/G ratio of 3.86 and a beta of 1.05. The business’s fifty day simple moving average is $109.73 and its two-hundred day simple moving average is $107.03. Casella Waste Systems, Inc. has a 12 month low of $86.41 and a 12 month high of $116.31. The company has a current ratio of 2.00, a quick ratio of 2.48 and a debt-to-equity ratio of 0.70.

Casella Waste Systems (NASDAQ:CWST) last released its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.16 by $0.25. Casella Waste Systems had a return on equity of 4.15% and a net margin of 0.87%. Research analysts anticipate that Casella Waste Systems, Inc. will post 1.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Jefferies Financial Group downgraded Casella Waste Systems from a “buy” rating to a “hold” rating and cut their price target for the stock from $115.00 to $113.00 in a research note on Thursday, January 23rd. Stifel Nicolaus increased their target price on Casella Waste Systems from $127.00 to $129.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, William Blair reaffirmed an “outperform” rating on shares of Casella Waste Systems in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating, two 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 has an average rating of “Moderate Buy” and a consensus target price of $117.75.

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.